Two government officials with direct knowledge of the matter said on Sunday that Bangladesh will import 500,000 tonnes of wheat from Russia at $430 a tonne as it struggles to secure supplies amid surging prices.
Since India banned exports of the grain in May, the south Asian country has been exploring ways to import the grain.
One of the officials said the deal with Russia would be signed in a few days and the shipment would begin in phases by January.
Another official said Bangladesh would pay in dollars for the import, including freight, insurance, and unloading.
The officials spoke on condition of anonymity since they were not authorized to speak to the media.
According to Salman Fazlur Rahman, the prime minister’s private industry and investment adviser, Bangladesh buys grain and fertilizer from Russia.
“We can make payments in dollars for imports of food grains and fertilizers from Russia through 24 global banks, with no restriction on such imports,” he said.
A turbulent global market forced some tenders to be canceled after India banned exports this year, causing Bangladesh’s government stock to reach its lowest level in three years.
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