According to traders, Bangladesh's state grain buyer will have to purchase about 50,000 metric tonnes of rice from India as part of an international tender that closed on March 11.

The lowest bid in the tender was $429.55 per ton CIF liner.

Bangladesh takes a while to consider the price offered in rice and grain tenders before taking a final decision. The reports reflect the assessments of traders, and future estimates on prices and volume are possible.

After a bad year of weather, Bangladesh continues to buy a lot of rice on international markets.

Bangladesh has also released two more tenders, both of which are for 50,000 tons rice. Both close on the 19th and 27th March. Michael Hogan reports.

(source: Reuters)