| Bangladesh to tender for 50,000 tonnes of rice |
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Market sources said it could be part of a government move to build food reserves after failing to procure enough rice locally. Rice prices have risen over the past few months despite good crops and healthy levels of stocks.
Indo-Sino also made the lowest offer at $388.92 a tonne in another
In January, the government extended a ban on rice exports until June to curb price increases and ensure availability of the staple in the domestic market.
At that time, the government also started open market sales of rice in the capital and adjoining districts to hold down prices.
The south Asian country produces around 30 million tonnes of rice, normally enough to feed its 150 million people, but often requires imports to cope with shortages due to natural calamities such as floods and droughts.
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