India bans lentil exports to Bangladesh, price jumps

Three days after India banned export of lentils to Bangladesh, prices have rose by more than eight percent in local markets, traders said on Monday. Bangladesh's total annual consumption of lentils is 200,000 tonnes, 75 percent of which are imported from India, Abdur Rab Shikder, chief officer of state-run Trading Corporation of Bangladesh, told Reuters.
India suspended the lentil exports to contain rising prices at home, Bangladeshi officials and traders said. In Bangladesh, the price of lentils, consumed by both rich and poor, increased to 63 taka from 58 taka per kilogram on Sunday, traders said. "We are concerned about the Indian government's decision and it will have some negative impact on our market," said Mir Nasir Hossain, president of Federation of Bangladesh Chamber of Commerce and Industries.
He said Bangladesh could import stuffs from other countries but preferred India because it was the nearest and transport costs were lower. Nepal could be an alternative source for importing lentils.