Traders said that the lowest price in Bangladesh's tender to buy 50,000 metric tonnes of rice, which closed on Tuesday, was $355.99 per metric ton CIF.

They said that offers are still being considered, and no purchases have yet been reported. The reports reflect the assessments of traders, and further estimates on prices and volume are possible later.

Bangladesh takes a while to consider the price of grain and rice before making a final decision.

The tender is seeking price quotes for non-basmati rice parboiled in CIF terms (ship unloading charges), for shipment to Chittagong or Mongla. Rice can be imported from anywhere in the world except Israel. The rice must be shipped 40 days after the contract is awarded. Michael Hogan reports.

(source: Reuters)