Starting rice from India, hoping to reduce prices in the market – Bangladesh Diplomat

The government has finally given permission to import rice from India to prevent the increase in the rice market. On August 12, the import of rice through the Hilly land port started, but they were delayed due to the complexity of the tariff. Later on August 5, the National Board of Revenue (NBR) reduced the tariff and set up only 2 percent AIT.

However, the price of India's rice market has not yet dropped significantly. Nazirshil rice is still being sold in various markets including the capital, Tk 5-7, miniket 3 rupees, and Bri-20 and Bri-20 varieties of rice at Rs.

According to rice traders, the supply of imported rice will have a positive impact on the market and the price is likely to drop up to Tk 1-5 per kg.

Meanwhile, Indian rice has entered the country through Benapole land port after four months. Private company Haji Musa Karim and Sons imported LC with India and imported 5 metric tonnes of coarse rice. Abdus Samad, proprietor of the company, said, “The government has given permission to import rice at the private level to keep the rice market stable. After we get permission, we have brought rice through 5 trucks. Many more importers are opening the LC, the speed of import will increase from next Sunday.”

Aminul Haque, vice-president of the Benapole Import-Export Association, said, “On the first day, 5 metric tonnes of rice has come. Several more rice is waiting to enter the port area.”

Market analysts say that if the supply is increased quickly, good quality rice can be sold in the market at a price of Tk. The general consumers are expected to get some relief.