Bangladesh to import 250000 tonnes rice from Cambodia at $ 453/MT.

Bangladesh will import 250,000 tonnes of white rice at $453.00 a tonne from Cambodia in a government-to-government deal, two food ministry officials said on Wednesday, more expensive than a previous deal. Rice is a staple food for Bangladesh’s 160 million people and high prices pose a problem for the government which faces a national election next year. The country produces around 34 million tonnes of rice annually but uses almost all its production to feed its population, and often requires imports to cope with shortages caused by floods or droughts. The government is building buffer stocks to combat high domestic prices after flash floods in April wiped away around 1 million tonnes of rice output, with ongoing floods, more severe, set to destroy more. The proposal to import rice from Cambodia is currently awaiting approval, said officials.