# Vietnamese Rice Secures Lowest Price in Indonesia's Tender for 300,000 Tons

> Indonesia's state agency Bulog received first offers in an international tender to buy about 300,000 tonnes of rice for delivery by May 31, with the lowest Vietnamese offer at about $609/t cost and freight. No purchase had been reported, and a decision was expected later that week. Indonesia has been raising rice imports after El Nino cut output and pushed rice prices up more than 16% year on year.

- Date: 2024-03-30 · published 2024-03-30T12:00:00.000Z
- Category: trade · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/31270-vietnamese-rice-secures-lowest-price-in-indonesia-s-tender-for-300-000-tons
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

A large Indonesian import tender supports Asian rice export demand and firm prices, though the low offer suggests competitive pricing pressure.

## Read by commodity

- RICE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2023-07-31 | [Vietnamese rice prices increase after India’s export ban](https://feedsoft.ai/events/35132-vietnamese-rice-prices-increase-after-india-s-export-ban.md) | +2.1% | +0.4% |
| RICE | 2024-07-22 | [Indonesia's Bulog issues new tender to buy 320,000 mt of rice, targets August-September delivery \| S&P Global](https://feedsoft.ai/events/29323-indonesia-s-bulog-issues-new-tender-to-buy-320-000-mt-of-rice-targets-august.md) | +7.0% | +2.4% |
| RICE | 2023-07-31 | [Thai, Vietnamese prices hit over decade highs on India curbs rice export](https://feedsoft.ai/events/35130-thai-vietnamese-prices-hit-over-decade-highs-on-india-curbs-rice-export.md) | +2.1% | +0.4% |
| RICE | 2022-03-31 | [China, Indonesia & Vietnam Turn Towards Broken Rice for Animal Feed Due to Increasing Price of Maize](https://feedsoft.ai/events/42355-china-indonesia-and-vietnam-turn-towards-broken-rice-for-animal-feed-due-to.md) | -0.1% | +5.4% |
| RICE | 2019-12-12 | [Asia Rice-India prices rebound, Vietnam sees uptick in demand \| Financial Post](https://feedsoft.ai/events/55667-asia-rice-india-prices-rebound-vietnam-sees-uptick-in-demand-financial-post.md) | +2.9% | +5.2% |

## Sources

- tradologie.com: https://www.tradologie.com/news/vietnamese-rice-secures-lowest-price-in-indonesia-s-tender-for-300-000-tons/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.