Bengal rice prices gain steam on Bangladesh demand - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Rice exports to Bangladesh may not have a significant impact on prices in W. Bengal thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The price of non-basmati rice, which is consumed by more than 80% of the Indian population, has shot up by 10-15% since January, as Bangladesh has started buying large volumes of rice from India.
Synopsis
This will pave the way for Indian rice exporters, particularly from West Bengal, to export non-basmati rice to the country and fetch better prices for the grain.
Agencies
Bangladesh is expected to import about 500,000 tonnes of non-basmati rice in this financial year, said Vinod Kaul, executive director, All India Rice Exporters Association.
Kolkata: The New Year is all set to bring in good news for India’s rice exporters as Bangladesh has reduced import duty on rice to 25% from 62.5%. This will pave the way for Indian rice exporters, particularly from West Bengal, to export non-basmati rice to the country and fetch better prices for the grain.