AVN 65.31 Decreased By ▼ -0.86 (-1.3%)
BAFL 30.25 No Change ▼ 0.00 (0%)
BOP 4.63 Decreased By ▼ -0.10 (-2.11%)
CNERGY 3.89 Decreased By ▼ -0.12 (-2.99%)
DFML 13.50 Decreased By ▼ -0.60 (-4.26%)
DGKC 42.15 Decreased By ▼ -1.54 (-3.52%)
EPCL 46.13 Increased By ▲ 1.48 (3.31%)
FCCL 11.45 Decreased By ▼ -0.38 (-3.21%)
FFL 5.19 Increased By ▲ 0.22 (4.43%)
FLYNG 5.82 Decreased By ▼ -0.28 (-4.59%)
GGL 10.04 Decreased By ▼ -0.34 (-3.28%)
HUBC 63.21 Increased By ▲ 0.91 (1.46%)
HUMNL 5.73 Decreased By ▼ -0.12 (-2.05%)
KAPCO 27.81 Increased By ▲ 0.26 (0.94%)
KEL 2.15 Decreased By ▼ -0.06 (-2.71%)
LOTCHEM 25.37 Decreased By ▼ -1.23 (-4.62%)
MLCF 21.65 Decreased By ▼ -0.87 (-3.86%)
NETSOL 84.95 Decreased By ▼ -1.25 (-1.45%)
OGDC 86.64 Increased By ▲ 0.37 (0.43%)
PAEL 10.96 Decreased By ▼ -0.31 (-2.75%)
PIBTL 4.21 Decreased By ▼ -0.07 (-1.64%)
PPL 78.65 Decreased By ▼ -1.43 (-1.79%)
PRL 13.61 Decreased By ▼ -0.05 (-0.37%)
SILK 0.88 Decreased By ▼ -0.02 (-2.22%)
SNGP 41.00 Decreased By ▼ -0.75 (-1.8%)
TELE 6.01 Decreased By ▼ -0.20 (-3.22%)
TPLP 16.02 Decreased By ▼ -0.25 (-1.54%)
TRG 111.89 Decreased By ▼ -0.66 (-0.59%)
UNITY 14.01 Decreased By ▼ -0.34 (-2.37%)
WTL 1.14 Decreased By ▼ -0.06 (-5%)
BR100 4,026 Decreased By -48.6 (-1.19%)
BR30 14,402 Decreased By -123 (-0.85%)
KSE100 40,451 Decreased By -396 (-0.97%)
KSE30 15,110 Decreased By -101.7 (-0.67%)
Follow us

DHAKA: Bangladesh is finalising deals with Vietnam and India to import a total of 330,000 tonnes of rice as it races to replenish reserves and cool domestic prices, two officials with direct knowledge of the matter said on Monday.

Soaring prices of the staple grain for the country’s 165 million people pose a problem for the government, which plans to expand cut-price rice sales to help people hard-hit by high costs.

The south Asian country will buy 100,000 tonnes of parboiled rice from an Indian public sector firm and 200,000 tonnes of parboiled rice and 30,000 tonnes of white rice from Vietnam, the government officials said.

The price for the parboiled rice from Vietnam will be $521 a tonne and white rice $494 a tonne, said the officials, speaking on condition of anonymity because the deals have not been made public.

The price for rice from neighbouring India will be $443.50 per tonne via seaports and $428.50 per tonne via railways, the officials said. All the prices included freight, insurance and unloading costs, they said.

Bangladesh set to import 500,000 T of wheat from Russia

“Preparations are underway to sign the deals soon,” one of the officials said, adding the rice would be delivered within two to three months after the signing.

The Bangladesh government is also holding talks with Myanmar to import rice, the officials said, putting aside a rift over the Rohingya refugee crisis.

Bangladesh this week slashed import duty on rice to 15% from 25%, cutting it for the second time since July in a bid to boost private imports.

Its private rice import plan, however, faces a setback with only 36,000 tonnes bought since July, after the government allowed private traders to import nearly 1 million tonnes of the staple grain after slashing duty to 25.0% from 62.5%.

The government will begin selling rice at a cheaper rate for 5 million poor families and expand such sales from September, in an effort to rein in surging domestic prices, which saw yet another uptick after it hiked domestic oil prices early this month.

Bangladesh, traditionally the world’s third-biggest rice producer with around 35 million tonnes annually, uses almost all its production to feed its people. It still often requires imports to cope with shortages caused by floods or droughts.

Comments

Comments are closed.

Bangladesh to import rice from Vietnam and India to replenish reserves

Suddenly, ailing SOEs come under PDM govt’s focus

At least 41 killed as passenger coach falls into ravine in Lasbela

6.3 magnitude earthquake jolts Islamabad, surrounding areas

Ten children killed in northwest Pakistan boat capsize

Pakistan expresses interest in possibility of currency swap with Russia

China’s 2022 smartphone shipments the lowest in 10 years

Blinken heads to Middle East as violence erupts

50pc duty imposed on import of ‘Mild Hybrid Vehicles’

Al-Nahyan due tomorrow to discuss trade, investment

LPG hits historic high of Rs300/kg: LPGA demands setting up of probe commission