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Bangladesh state grains buyer plans to import 600,000 T of rice
May 9, 2017 / 10:33 AM / in 7 months

Bangladesh state grains buyer plans to import 600,000 T of rice

DHAKA, May 9 (Reuters) - Bangladesh’s state grains buyer will import 600,000 tonnes of rice in an effort to replenish reserves and tame prices of the staple, the agency’s head told Reuters on Tuesday.

Authorities are also considering waiving the tax on rice imports, said Badrul Hasan, the head of the Directorate General of Food, as local rice prices have hit a record high and state reserves for the grain are at a six-year low.

The state buyer floated a tender to import 50,000 tonnes of parboiled rice on Tuesday, its first such tender in many years, after flash floods hit fields about to be harvested, potentially wiping out 700,000 tonnes of crops.

“We are going to issue another tender very soon,” Hasan added.

He said the state agency also plans to import rice through government-to-government deals such as Thailand, Vietnam and India as imports through tenders are lengthy process.

Reporting by Ruma Paul; Editing by Christian Schmollinger

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