Bangladesh to import 100,000 tonnes of white rice from Vietnam

Bangladesh has signed a contract to import 100,000 tonnes of white rice from Vietnam in order to stabilise and meet the demand of the domestic food market.

The export contract will be supplied by the Vietnam Southern Food Corporation (Vinafood II), according to the Vietnam Food Association.

The selling price has been set at 474.25 USD per tonne, higher than the typical international market price for white rice, says VietnamNet.

The purchase proposal from Bangladesh's Ministry of Food was approved by the Bangladesh Public Procurement Authority in Dhaka on January 28, paving the way for the upcoming import activities.

The large-scale import of white rice from Vietnam is part of Bangladesh's strategy to stabilise food prices, particularly as the country implements its Open Market Sales (OMS) programme starting in February.

Under this plan, the government will distribute around 907 tonnes of rice daily through 906 centres nationwide, including the capital Dhaka, major cities and labour-intensive regions. The rice will be sold at 30 Tk per kg (approximately 243 USD per tonne), enabling low-income populations to access essential food supplies at affordable prices.

Bangladesh is one of South Asia's largest rice producers. However, the country still needs to import rice at certain times to balance supply and demand. In 2023, Bangladesh imported nearly two million tonnes of rice from countries including India, Thailand, Vietnam, and Myanmar.

The export of 100,000 tonnes of rice reaffirms the strong position of Vietnamese rice in the global market. It also encourages farmers to grow high-quality rice that meets export standards and enhances the economic value of Vietnamese rice.

In addition to Bangladesh, Vietnam is a key rice supplier for many other markets, including China, the Philippines, Indonesia and several African countries.