Govt mulls rice import duty cut

Staff Correspondent | Published: 23:12, Jul 07,2020


The government is thinking of slashing the duty on rice import to keep the market price of the item stable as the price continued to rise in the country despite the bumper production of Boro paddy.

The food ministry in release on Tuesday said that despite the bumper production, if any quarter tries to make the rice market unstable and rice mill owners show reluctance in delivering rice to the government warehouse on time as per the contract, the government would reduce the duty on rice import.

The release, however, said that the country had seen a bumper production of paddy this year and farmers had received fair prices for the staple.

The price of rice started to rise on the city markets from midJune, just a month after the Boro paddy was harvested.

Earlier, food minister Sadhan Chandra Majumder on June 25 told New Age that a quarter was trying to manipulate the rice market but the government remained vigilant in this regard.

He also said that the high price of boro paddy might also be a reason for the increase in the rice price.

‘Moreover, a quarter has remained active on the market who are trying to manipulate the price to make extra money as market monitoring is being hampered due to the COVID- 19 calamity,’ the minister said.

If necessary, the government will start a drive on the markets to keep the staple price stable, he said.

According to the Trading Corporation of Bangladesh, the price of the course variety of rice on Tuesday was 18.06 per higher than the same day last year while the price of the fine variety was 9.62 per cent higher.  

The course variety rice was selling for Tk 40-45 a kg on Tuesday.

The standard variety of BR-28 rice was selling for Tk 48-50 a kg while the fine variety was selling for Tk 50-54 a kg in the capital on the day.

The fine variety of Miniket rice was selling for Tk 56-65 a kg with the fine variety of Najirshail rice retailing at Tk 60-65 a kg.

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