Rice import duties down to 10% from 28%

20.06.2017

The government has decided to reduce duty on rice import by 18% to ease price hike in the market.

Minister of Commerce Tofail Ahmed revealed the decision at a workshop in an auditorium at his ministry on Tuesday.

“We hope price of rice per kilogram will fall by Tk6 at after the reduction of import duty,” he said.

From now on the rice importers will import rice with a duty of 10 % instead of previous 28%.

The minister said Prime Minister Sheikh Hasina took the decision to reduce duty on rice import during the Cabinet Division meeting on Monday.

Rice prices saw a rise as the millers had to count losses due to the recent flash floods in the country.

Prices of coarse rice, which is generally consumed by poor and lower-middle income residents, have shot up by 5% to 10% in grocery stores across the country, compared to last month.


dhakatribune

Readers choice: TOP-5 articles of the month by UkrAgroConsult