The bids were submitted in price ranging from $ 372.70 and $ 598.75 (Rs 17,279-27,811) a tonne.

While PEC received seven bids, MMTC got six and STC five to import 10,000 tonne of rice each, official sources said. The tenders can be finalised in two to three days, a PSU official said. While the traders quoted higher prices for sourcing rice from Vietnam and Thailand , the rates remained less for the import from Myanmar and Pakistan.

In the first tender floated by state-run trading arm PEC Ltd to import 10,000 tonne of rice as many as seven companies participated, which included Ameropa, Emmsons SA and Louis Dreyfus of Switzerland, ACS-FZE of UAE, Indo-Sino Trade of Singapore and Haji Adinin of Darussalam, an official with the trading firm said.

The bidders have offered rice varieties from Pakistan , Thailand , Vietnam and Myanmar officials from PEC said.

In the second tender, also to import 10,000 tonne of rice, being floated by MMTC ltd, around six bidders showed their willingness to sell rice to India . The lowest rate of $ 372.70 a tonne was quoted by MTPL while Singapore-based Ameropa sought the highest price of $590 for importing the Thai rice, sources said. While in the third tender, floated by STC Ltd Ameropa was the lowest bidder among the five firms that submitted bids.

The bidders have offered to sell rice between $442 and $598.75 per tonne, the officials told reporters on Monday, adding varieties offered included those from Pakistan , Thailand and Vietnam. “It’s a good price. Import at this price won’t affect Indian farmers as we are also paying same prices to them. With this bid, a price band for future import is also obtained for reference,” Vijay Sethia, former President All India Rice Exporters Association told PTI.

The import was necessary following an around 15 million tonnes fall in rice production during the kharif sowing because of drought in several parts of the country.