Bangladesh to buy 500,000 tons of wheat from Russia

By SM Najmus Sakib

DHAKA (Bangladesh) AA - Bangladesh on Wednesday approved the import of 500,000 tons of wheat from Russia in order to stabilize the commodity's price.

Additional Secretary of the Cabinet Division Abdul Barik announced the decision following a meeting of the Cabinet Committee on Public Purchase in the capital Dhaka.

Bangladesh will pay Russia in US dollars for this wheat, he said, adding that wheat will be purchased at $430 per ton.

A Russian company was offered to handle the procurement, according to the official.

Earlier, the country's Food Ministry met with Russian officials after the latter extended an offer to supply wheat and petrol to the south Asian nation. But, fearing US and Western sanctions over Russia's military attack in Ukraine, Bangladesh did not rush to acquire the grain.

The purchase order for 230,000 metric tons of rice from India and Vietnam was also approved at the same meeting.