Huge rice imported in spite of self-reliance in Bangladesh
Rice
Bangladesh
Published Jul 4, 2022
Original content
Bangladesh has imported 23.48 lakh tonnes of rice in the past two years and the food ministry has recently granted 95 firms permission to import 4.09 lakh tonnes.The imports are said to have been permitted to contain the increasing prices of the staple, though the government has repeatedly claimed that the country has become self-sufficient in rice production.Against an unusual rise in the prices of rice in the recent harvesting season, the government has also slashed the rice import duty to 25 per cent from 62.5 per cent effective since June 22.After cutting the import duty, the food ministry on June 30 allowed 95 businesses to import 4.09 lakh tonnes of rice to keep the local rice market stable.The quantity of rice imported during the just-concluded FY22 was 9.89 lakh tonnes while the quantity was 13.59 lakh tonnes in FY21, the food ministry data show.According to Bangladesh Bank data, the country has imported rice worth $2.75 billion in the past six years since FY17.Department ...
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