Bangladesh : Rice imports resume thru Hili port after duty cut
Bangladesh resumed rice imports via Hili land port after the National Board of Revenue slashed duties from 63.25% to 2%. The food ministry approved 0.5 million tonnes for import to stabilize prices, which have risen 15–20% in two months. Traders expect coarse and medium rice prices to drop Tk 3–4/kg soon.
Rice imports restarted on Tuesday through the Hili land port in Dinajpur after the National Board of Revenue (NBR) reduced import duties recently, sources said.
Normally subject to a 63.25 per cent duty, rice imports will now face only 2.0 per cent, confirmed importers.
On August 10, the food ministry allowed 242 traders to import a total of 0.5 million tonnes of rice to help stabilise the domestic market.
“My trucks are now at customs. They will enter Bangladesh after 8:00pm,” said Lalit Keshra, owner of M/s Sairam Enterprise in Dinajpur. Hili customs officials also confirmed that the reduced duty rate is reflected in their system.
Mr Keshra said prices of coarse and medium-quality rice in Dinajpur could fall by Tk 3-4 per kg within a few days if imports continue.
Meanwhile, rice prices in Dhaka have risen 15-20 per cent over the last two months. Currently, coarse rice sells at Tk 56-60 per kg, medium quality at Tk 66-72, and finer varieties at Tk 78-95 per kg.
Popular varieties are priced as follows: BRRI dhan 28 at Tk 66-68 per kg (up Tk 6-8), Miniket and Jeerashail at Tk 82-90, and Najirshail at Tk 85-95, depending on quality.
Traders attributed the price surge to higher paddy prices in producing districts following the June Boro harvest.
However, Hili port officials could not confirm how much rice actually entered Bangladesh from India on Tuesday.
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Source : The Financial Express
