On Tuesday, traders reported that Bangladesh's state grain buyer had issued an international tender for the purchase of 50,000 metric tonnes of rice.

The deadline to submit price offers is January 1.

According to the Agriculture Ministry, floods in Bangladesh between August and October destroyed 1.1 million tonnes of rice. This led the country to increase imports of this staple grain in response to soaring prices.

The new tender is seeking price offers for nonbasmati parboiled risotto in CIF terms including ship unloading charges, for shipment to Chattogram and Mongla ports.

The rice can be imported from anywhere in the world and must be shipped within 40 days of contract award. (Reporting and editing by Mohammed Safi Shamsi; Michael Hogan)

(source: Reuters)