Synopsis Bangladesh received a lowest offer of $477 per tonne for 50,000 tonnes of rice from India in a tender aimed at securing supplies after devastating floods. While the offer is under consideration, the government plans to import a total of 500,000 tonnes and allow private imports to combat soaring food prices. The lowest price […]
The NBR reduced the import tax on rice from 62.5% to 2% through two separate statutory regulatory orders (SROs) on 20 October and 31 October. The National Board of Revenue (NBR) expressed optimism that reducing the import duty on rice from 62% to 2% in two phases will lower the cost of rice import by […]
Bangladesh Sangbad Sangstha . Dhaka The National Board of Revenue has lifted all import and regulatory duties on rice to ensure food security and control prices for the common people. To this end, the revenue authority issued a Statutory Regulatory Order on Thursday. Earlier, the Directorate of Food submitted a report on the country’s overall […]
Fakhrul Islam & Rajib AhmedDhaka The price of rice is increasing in the market, and more concerning is that recent heavy rains and flash floods from upstream countries, including India, have damaged aman rice plantations. The estimated production loss could be about 839,000 tonnes. The Bangladesh Trade and Tariff Commission (BTTC), an organisation under the […]
The commission’s report notes that, due to a potential rice shortage, the government lowered the import duty from 62.5% to 25% on 20 October. The Bangladesh Trade and Tariff Commission has recommended the complete removal of the current 25% import duty on rice to enable lower-cost imports, citing high global rice prices. According to the […]
Ministry of Food plans to propose lowering tariff to 5%. It has been over a week since the government allowed private imports of rice with reduced tariffs to alleviate consumer discomfort from soaring local rice prices, yet traders have shown little interest in importing. The primary concern remains the import cost, which exceeds Tk65 per […]
Rice traders in Bangladesh are less interested in importing the grain despite the recent slash in related tariffs as they do not believe there is enough of a profit margin because of high prices on the international market. They added that doing so would have little effect on reducing domestic prices at this time. The […]
After an increase in July-August, rice prices are rising again. Within a week, prices of various types of rice have increased by Tk 2 to 4 per kg. Some traders say the price is rising due to floods, while others blame a syndicate for manipulating the market. They are advising raids on warehouses. In response, […]
Floods in Bangladesh have destroyed 1.1 million tons of agriculture led to rising food prices. Bangladesh is grappling with an agricultural crisis as catastrophic floods have destroyed 1.1 million tons of rice crops. As per the agriculture ministry report, the floods in Bangladesh have devastated tons of rice crop leading to increased imports of grain […]
