Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, July 22, 2018 04:42:34 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Rice import

Traders eat benefits

By
13th-Sep-2017       
Comments
Share your thought
Post a comment »
Read all () »

Anisul Islam Noor :
Importers, wholesalers and retailers are enjoying benefits of rice import at the decreased rate of duty.
Huge quantities of rice have been imported from different countries including India, Vietnam, Thailand and Myanmar. But the price is higher than it was before import.
The food market analysts said that rice syndicates are devouring the benefits of rice import at two per cent rate. They have set up a channel from border to rice wholesale markets to keep rice price high, they opined.
The analysts said, the big importers and traders are cashing in on the duty slash, depriving limited income group of people of benefits.
However, though the government reduced the import duty on rice to two pc only in August, the price of coarse rice is still hovering between Tk 46 and Tk 48 a kg at retail markets, according to trading sources.
Rice production is expected to decline by 20 lakh tonnes due to flash flood in the haor and northern regions.
In June, the government cut the import duty on rice to 10 per cent from 28 per cent earlier and again reduced it to two per cent last month aiming to raise the supply in the flood-hit country.
Following the initiative, import of rice increased sharply in the first two months of the current financial year, according to official data of food ministry.
It showed that private importers brought four lakh tonnes of rice just in last 60 days of the current financial year when total import was 1.33 lakh tonnes in FY'17.
Letters of Credit have been opened for importing another 15000 tonnes of rice which will land in the country within a month.
The government also imported 14000 tonnes of rice this fiscal while another 13.6 lakh tonnes of rice will be imported gradually, food ministry officials said.
Ranjit Saha, a Dinajpur-based importer told the reporter that they were now selling imported Swarna at Tk 36 a kg which was Tk 40 three weeks ago.
He said imports surged significantly as the government eased the duty.
He informed that importers in Dhaka imported a good volume of rice through Benapole land port this year instead of buying from the third parties.
But the low priced imported rice is yet to make any impact in the city markets.
Key coarse variety Swarna was selling at Tk 48 a kg while hybrid varieties at Tk 45-Tk 46 a kg at retail markets in Dhaka for last two weeks.
Price of medium quality Brridhan-28 remained static and it was trading at Tk 50-Tk 52 a kg.
The prices of finer varieties like Miniket and Jeerashail declined only by Tk 1-Tk 2 after the Boro harvest.
Consumers Association of Bangladesh (CAB) Secretary Humayun Kabir Bhuiyan said big importers and traders in Dhaka were pocketing hefty profits, depriving the limited income consumers in the capital.
He said the import cost for Swarna is maximum Tk 37 a kg now, but it is sold at Tk 46-Tk 48 a kg in city markets.
"Hybrid varieties are traded at Tk 37-Tk 38 a kg at mill-gates but selling at Tk 46 a kg at city retails," he said.
The government should step up its monitoring to minimize a huge gap between import costs and retail prices to give the low income people some sort of relief, he said.

Tariff
Add Rate

News Archive

Inside The New Nation

Entertainment »

Dhadak Public Review: Ishaan Khatter, Janhvi Kapoor win hearts


The day is finally here and Ishaan Khatter - Janhvi Kapoor starrer Dhadak has hit the theatres. The film that marks the debut of late actress Sridevi's daughter opposite Shahid Kapoor's younger brother has won audiences heart. A remake of the Marathi blockbuster Sairat, Dhadak is helmed by director Shashank ...

Entertainment »

Ram Gopal Varma to make a biopic on Sanjay Dutt


Sanju has become one of the biggest hits of Bollywood. Directed by Rajkumar Hirani, Sanju gives us a glimpse of the controversial life of Sanjay Dutt and touches upon sensitive issues like his addiction to drugs, his difficulty in dealing with the passing away of his mother and the label ...

Sports »

A participant of the talent hunt programme of archerers in action at the Bir Shreshtha Nur Mohammad Stadium in Narail on Saturday. Bangladesh Archery Federation has arranged the programme, while City Group has sponsored the programme.


Sports »

Sloane Stephens of the United States, returns to opponent Madison Keys, also of the United States during an exhibition match at the International Hall of Fame's center court on Friday.


City »

Prime Minister Sheikh Hasina receiving letter of honour from Awami League (AL) General Secretary and also Road, Transport and Bridges Minister Obaidul Quader at a reception accorded to her organised by AL at Suhrawardy Udyan in the city on Saturday.


Editorial »

CHT people must be assured sense of participation: Fear of force doesn`t win people


THE lack of government's desire over holding elections to the regional council and the three District Councils in Chattogram Hill Tracts has long been depriving indigenous people of their right to have elected representatives in the local bodies. News media reported that for almost two decades, the District Councils have ...

International »

US presses China and Russia to enforce sanctions on N Korea


AP, United Nations : The United States on Friday welcomed the U.N. Security Council's united support for the fully verified denuclearization of North Korea and pressed China and Russia to strictly enforce U.N. sanctions to get Pyongyang to give up its nuclear weapons.U.S. Secretary of State Mike Pompeo accused North Korea ...

Editorial »

World must be united to ensure trial of the genocide against Rohingya people


ROHINGYA refugees reaching Bangladesh said violence, including torture, persists against them in Myanmar and the overall environment remains "menacing" for ethnic and religious minorities. UN human rights investigators carried out the Rohingya's plight after a five-day visit to the refugee camp of Kutupalong in Cox's Bazar where they interviewed new ...

Football »

Mata salvages draw as Man Utd open North American tour


AFP, Los Angeles :Juan Mata grabbed the 78th minute equalizer as Manchester United opened their pre-season with a 1-1 draw against Club America on Thursday in Phoenix, Arizona.A header from Henry Martin in the 59th minute - past substitute goalkeeper Joel Pereira - had put Mexican outfit America in the ...

Entertainment »

Rituparna arrives Dhaka tomorrow for movie Jam


Sheikh Arif Bulbon :There was a family relationship between Kolkata’s popular film actress Rituparna Sengupta and Bangladeshi popular late hero Manna and his wife Shelly Manna. As a result, when Rituparna came to Bangladesh she always met Shelly Manna at her residence. Manna’s production house Kritanjali Chalachchitra is going to ...

International »

Parliament debates no-confidence motion against Modi`s govt


AP, New Delhi :Congress party leader Rahul Gandhi accused the government of failing to live up to its promises as the Indian Parliament on Friday debated a no-confidence motion moved by the opposition against Prime Minister Narendra Modi's government.Gandhi, the scion of the Nehru-Gandhi political dynasty, accused the government of ...

City »

Convenor of Nagorik Oikya Mahmudur Rahman Manna speaking at a press conference on


.

International »

Trump-Putin summit: Democrats call for interpreter to testify


BBC Online :US opposition politicians are calling for Donald Trump's interpreter to testify before Congress about his summit talks with Vladimir Putin.The lead Democrat on the Senate Foreign Relations Committee, Robert Menendez, called for Marina Gross to be subpoenaed to appear at the committee.Controversy has raged over the summit, with ...

Sports »

Minnesota United forward Christian Ramirez (21) is congratulated by teammate Alexi Gomez (32) after his goal during the first half of an MLS soccer match against the New England Revolution in Minneapolis on Wednesday.


Sports »

Ciara (left) and Seattle Seahawks' Russell Wilson present the award for best female athlete to snowboarder Chloe Kim at the ESPY Awards at Microsoft Theater on Wednesday in Los Angeles.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news