The government will import 500,000 metric tons (mt) of wheat from Russia and 330,000 mt of rice from India and Vietnam.

Cabinet Committee on Government Purchase at a meeting approved such proposals, along with some other proposals on Wednesday. Finance Minister AHM Mustafa Kamal presided over the meeting.

As per the proposals placed by the food ministry, the bulk wheat will be procured from Russia at a total cost of Tk 2042.50 crore.

In dollar term, a total of US$ 215 million will be spent to procure the entire consignment from the Russian Federation under a government to government (G-to-G) contract.

Recently, the government at a high level meeting discussed whether alternative currency like Ruble could be used in the import from Russia.

But additional secretary of the Cabinet Division Md Abdul Barik, who briefed reporters about the cabinet body decision, informed that only US dollar, no alternative currency, will be used in this purchase.

He also said that nothing was mentioned in the purchase proposal as which Russian port will be used in importing the bulk wheat.

Each metric ton of the Russian wheat will cost $430 while per kg at Tk 40.85 considering US dollar exchange rate at Tk 95.

Under other proposals, the Food Ministry will import 100,000 mt of non-bashmoti parboiled rice from India at a total cost of Tk 417.50 crore.

The bulk import will be executed in two lots of which 70,000 mt will be imported through Chattagram port while 30,000 mt will be brought through land port.

Each kg of rice through port will cost Tk 42.13 while each kg through land port will value Tk 40.70.

Each metric ton of rice will cost US$ 443.50.

Under another proposal, the food ministry will import some 230,000 mt of non-bashmoti rice from Vietnam of which 200,000 mt will be non-bashmoti parboiled rice while remaining 30,000 mt is white rice (Atap).

Each kg of parboiled rice will cost Tk 49.49 while white rice will cost Tk 46.93.

An Indian company will supply the bulk rice from Vietnam in which per mt of parboiled rice costs $521 while per mt of white rice will cost $494.

The purchase committee also approved proposals for import of MOP and Urea fertiliser.

As per a proposal of the agriculture ministry, the Bangladesh Agriculture Development Corporation (BADC) will import 100,000 metric ton of MOP fertiliser from Dubai-Falco General Trading under a state-to-State contract at a cost of Tk 931.49 crore.

Each metric ton of MOP will cost $980 which was earlier imported at $1100.
A total of 60,000 mt of urea fertiliser will be imported from Saudi-based SABIC Agri-nutrients Company in two equal lots.

Under the proposals, Bangladesh Chemical Industries Corporation (BCIC) will import each lot of 30,000 mt at Tk 117.98 crore.

Each metric ton of urea will cost $624.17 while previously it cost 534.33 per mt. Source: UNB