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.
The food ministry yesterday informed the cabinet that 20 lakh tonnes of rice and wheat would have to be imported to meet demand and keep the market stable until January next year.
The price of rice at importer level came down by Tk 2.50 per kg as the latest duty cut became effective yesterday following issuance of a circular by the National Board of Revenue (NBR).
Disclosing for the first time this year's crop loss figure, the government yesterday decided to slash the tax on rice imports to 2 percent from 10 percent.
The first consignment of rice that the government purchased from India has arrived at the Mongla Port and would begin to be unloaded tonight.
Bangladesh yesterday signed a memorandum of understanding with Thailand to facilitate up to 10 lakh tonnes of rice import from the
In a desperate bid to stabilise rice price, the government has decided to further reduce the duty on import of the staple and strike a deal with Thailand to buy rice.
The first consignment of rice imported from Vietnam entered Bangladesh territory this morning.
Rice import by the private sector has dropped to a four-year low at a time when its prices have shot up in the domestic market. Traders imported only 1.2 lakh tonnes of rice till mid-June in the current fiscal year against 2.56 lakh tonnes in the previous fiscal year.
The government will import 250,000 tonnes of rice at Tk 908.85 crore from Vietnam under a government-to-government agreement.
Bangladesh is to import 600,000 tonnes of rice in an effort to replenish reserves and rein in prices of the staple.
