Bangladesh approves purchase of rice from India at $455/T

DHAKA: Bangladesh has approved the purchase of 100,000 tonnes of parboiled rice from India at $455 a tonne, officials said on Sunday, as the government races to shore up depleted stocks and combat high prices.

Traditionally the world's fourth-biggest rice producer, Bangladesh's rice imports are set to hit their highest levels in a decade after floods hit its crops.

The price includes shipping, insurance and discharge costs.

High demand from Bangladesh helped push Asian rice prices to multi-year highs in June.