Dhaka, August 6:

Bangladesh has decided to import 50,000 tonnes of rice from India to supplement its rice stocks.

An advisor’s committee meeting on purchase chaired by financial advisor Mirza Azizul Islam gave the approval for rice import to help Bangladesh meet its procurement targets and keep the prices of the principal staple commodity down.

LMJ International Ltd, an Indian company, was the lowest bidder to supply rice worth $1.86 million. The company offered $349.90 per tonne, while two other Indian bidders offered $368.11 and $372 for the same quantity. Bangladesh would be purchasing this coarse quality rice at 24-Taka per kg, two takas higher than the local price, The Daily Star reported today.

The committee of advisors of the current interim government Sunday approved 8.82 billion Takas for the purchase of 450,000 tonnes of rice in the current fiscal year. “As we need to increase the supply of rice to the local market, the stocks should be strengthened by importing rice, “ Islam said.