Essar Shipping vessels import rice from India to Bangladesh
Essar Shipping said that its Tvisha and Tuhina handysize vessels weighing 13,000 DWT, have been deployed in exporting rice from India to Bangladesh in accordance with a recent bilateral trade pact signed by the two countries.
The company, which is part of Essar Global Fund’s services and technology portfolio, said that since March 2021, the Tvisha and Tuhina vessels have been employed continuously in back to back business to export rice.
As per their bilateral trade agreement, Bangladesh will buy 150,000 tonnes of rice from India. It is the first such bilateral deal between the two countries in the past three years.
Essar Shipping vessels import rice from India to Bangladesh. Photo courtesy of Essar.
Ranjit Singh – CEO of Essar Shipping said: “We are glad to extend our support and services to meet Bangladesh’s rising demand for rice. With India’s five years pulses import deal with Myanmar, we have bagged a shipment contract for these vessels which is to begin operations from 20th July.
“As new export deals are slated to be signed with the neighbouring nations in the coming months, our vessels will also be engaged in trade in – continuation within this region. Also as we witness the Covid wave cooling off across nations, we are hopeful to make the most of this opportunity and capitalise on this trade.”
Bangladesh despite being the third largest producer of rice in the world with an output of around 35 million tonnes per annum, depends on imports from time to time to handle the shortages resulting from floods, drought, and other natural disasters.