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Bangladesh: Another 47 firms authorized to import 73,000 tons of rice.
Jul 19, 2022

The government has authorized 47 companies to import 73,000 tons of rice to stabilize food prices in the local market.

The firms have been asked to bring 60,000 tons of non-basmati boiled rice and 13,000 tons of non-boiled atap by August 25, according to a notice issued by the Food Ministry on July 13.

The government allowed firms for the third time this month to import the essential staple food amid volatility in the global market.

Earlier in the month, the government allowed 230 firms to import 655,000 tons of rice in two phases.

It has so far allowed local firms to import 728,000 tons of rice in the ongoing financial year.

The companies who got the fresh permission were asked to open letters of credit (LCs) by July 31.

If they fail to comply, the import permissions would be cancelled, it said.

The importers have also been asked to inform district food offices about how much rice is imported, sold and stored.

Traders will have to sell the rice in the same bag that would be used to import the grain, according to the food ministry.

The National Board of Revenue cut the duty on rice that will be imported in a period between June 22 and October 31 to 25.75% from 62.5% to facilitate the purchase of the cereal from international markets.

In order to avail the tax waiver, importers will have to take permission from the food ministry for every shipment, according to the NBR.

Coarse rice is being sold for between Tk48 and Tk52 per kg in the kitchen markets in Dhaka on Saturday.

The prices of coarse rice remained unchanged in the past one month, according to the Trading Corporation of Bangladesh.

dhakatribune.com

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