• Iraq Update: Chaos Still Reigns

    Oct 19, 2015
    Amid reports of corruption centered around rice tenders conducted by the Iraqi Minister of Trade (MoT), USA Rice has learned a court order was issued over the weekend to arrest the Iraqi Trade Minister and his brother to be investigated for corruption. It remains unclear how this latest shake up will affect the pending or future tenders. A new tender that was to be announced today has been postponed and, according to the Director General of the Grain Board of Iraq, a new tender will be issued either later this week or next regardless of this new situation.
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  • U.S. Rice Sale Lost Amongst Chaos at Iraqi Ministry of Trade

    Oct 16, 2015
    Yesterday USA Rice learned that Iraq’s Ministry of Trade (MoT) cancelled the sale of 30,000 MT of U.S. rice that was awarded under the last tender. This move was anticipated because the U.S.-origin award was made to an Indian company with no previous record of exporting U.S. rice and at a bid price well below offers of U.S. rice from a U.S. firm and a U.K. firm. The MoT retained the award of 50,000 MT of Indian-origin rice bid by a second Indian company.
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  • Latest Iraqi Rice Tender Results Confusing at Best

    Oct 06, 2015
    U.S. Rice - the feel good foodUSA Rice learned today that in the latest tender here, which has been delayed numerous times, Iraq purchased 80,000 MT of rice, 30,000 MT of which was U.S. origin. The U.S. sale was from an India-based company, Jindal Industries, at an offered price of $559 per metric ton CIF. The price seems unrealistic given the prices offered by the two western companies of $639 and $659 per ton CIF. There were two other offers of U.S.-origin from India-based companies ranging in price from $559 to $561 per ton CIF.
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