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Volatile Rice Market: Import eased as prices soar

Now, an importer has to pay 62.5 percent duty for importing rice. Rice importers will have to apply to the food ministry with all necessary documents by January 10 next year, Food Minister Sadhan Chandra Majumder said at a virtual press conference yesterday. The ministry will give approval to import of a certain quantity of rice after scrutinising the applications. If needed, we will buy 15 to 20 lakh tonnes of paddy from farmers, said the minister. Meanwhile, Agriculture Minister Muhammad Abdur Razzaque has said the government will not allow import of more than six lakh tonnes of rice by the private sector to safeguard the interests of farmers.

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