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Amended draft agreement for rice export sent to Iran

KARACHI: The Trading Corporation of Pakistan (TCP) has sent a draft agreement for the export of 15,000 tonnes of IRRI-9 to the Government Trading Corporation (GTC) of Iran after making some minor amendments in the original draft.

This was stated by TCP Chairman Javed Ashraf Hussain here on Wednesday.

He said the draft agreement of the GTC Iran was received by the TCP last week containing terms and conditions for the contract and quoting the price $229 a tonne FOB with polypropylene bag and $234 a tonne FOB with gunny bag.

Iran had agreed to import 15,000 tonnes of IRRI-9 on a trial basis, after the TCP delegation led by its chairman successfully convinced Iranian authorities that complaints of unethical business practices would not be repeated again in rice trade between the two countries.

Iran had imposed restrictions over rice import from Pakistan two years ago after some private parties despatched sub-standard rice to Iran.

"We have sent back the amended draft agreement to the GTC Iran and as soon as the reply is received we will start execution of order immediately," Hussain said. It is a one ship load, he added.

"I think we will get the reply any time now," The TCP chairman said.

He said the consignment will be shipped between February and March.

"We have assured Iranian government that from now onwards no unethical business practices will be repeated any more," he said and added that TCP will ensure specific quality of rice is shipped to Iran in future.

He said there are bright possibilities that if this trial consignment was shipped ini accordance with the need, Pakistan can get more orders for rice from Iran which is a large market.

He said the anticipated demand for rice in Iran is around 1.2 million tonnes which is met through Thailand, Vietnam, Uruguay and other countries.

The TCP chairman said these countries have been selling 1.2 million tonnes of rice to Iran during the last two years. APP