The interim government of Bangladesh will procure 50,000 tonnes of rice from India to address the depletion of the country’s food stocks and thereby meet consumer demand for the cereal grain amid ongoing inflationary pressure..The rice will be used to supply state-sponsored food distributi
The government is set to import rice from Myanmar and India as part of its efforts to bring down the high price of the staple, replenish stocks and ensure distribution under social safety net schemes.
Against the backdrop of rising prices, the government has geared up efforts to buy rice from the international market to replenish stocks and ensure distributions under social safety net schemes to arrest market volatility.
Some 91,000 tonnes will be parboiled rice and 33,000 tonnes sunned rice
The agriculture minister says in a seminar
The National Board of Revenue (NBR) has extended the scope for traders to import rice at reduced tariff by three months to March 31 next year to facilitate increased supply of the staple food and contain its prices in the local market.
Bangladesh’s rice production may decline in marketing year (MY) 2022-23, which began in May, as severe floods damaged pre-monsoon crop Aus in the north and northeastern regions during planting, said a USDA report released on Monday.
The government initiative to import rice from different sources to beef up the stock and keep the prices stable is yet to see any significant progress.
The government today starts selling rice at subsidised prices in an effort to give respite to the poor and low-income earners and bring stability to the volatile rice market.
High prices are making life harder for the poor
The government has given go-ahead to 47 companies to import 73,000 tonnes of rice as part of its ongoing effort to contain food prices in the local market.
The government has slashed the rice import duty to 25 percent from the existing 62.5 percent to keep the rice market stable, Food Minister Sadhan Chandra Majumder said today.
In purview of farmers counting losses in Bangladesh, the government has increased the duty on import of the basic staple to protect local produce.
Rice prices have gone up as millers and traders hiked prices banking on the government decision to raise import duty on the cereal to 28 percent from 2 percent, say market insiders.
In 2017, a large quantity of rice was imported from India and mainly from the bordering state of West Bengal. Exact figures of
The government in a desperate move to boost stock is going to import another 1.5 lakh tonnes of rice from India after an initiative to bring in the staple from Cambodia has recently failed.
Food officials have not been properly monitoring the market for long, allowing a section of unscrupulous traders to do business of essentials like rice and wheat without having licence and hoard them.
Failing to import parboiled (Shiddo) rice from Myanmar due to high price, the government yesterday approved another deal to import 50,000 tonnes of rice through international tender.
As rice prices have gone up further in the last four days, the government yesterday said conspiracy has been afoot to destabilise the rice market.
