STC importing 10,000 tonnes of rice while India's granaries are overflowing

09 September 2014

The State Trading Corporation (STC) on Monday floated a tender to import 10,000 tonnes of rice for delivery in Manipur at a time when India, the world's second-biggest rice producer, is sitting on huge surplus grain stocks.

India's rice stocks stood 17.32 million tones as of 1 September 2014, much higher than the buffer norm of 9.8 million tonnes.

Imports are sometimes required because of poor transportation links to ship grain to interior areas in northeast India, said a trade source.

State-run STC is seeking 25 per cent broken white rice supply from overseas sellers for delivery between 15 October and 15 November.

The minimum quantity to be offered is 5,000 tonnes and the supplier should specify country of origin for the quantity to be supplied.

Prices have to be quoted in Euro per metric ton - net delivered weight and
quality basis - for delivery at designated FCI godowns in Manipur.

Payments will be made in full at sight through a letter of credit on presentation of stipulated documents.

The supplier has to arrange for custom clearance of the cargo at land custom for onward delivery to FCI godowns in Manipur. The cost of unloading and other incidental costs at FCI godowns will be on buyer's account. Bids close on 23 September.

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