• Friday, Jan 27, 2023
  • Last Update : 10:24 am

71 companies to import rice

  • Published at 03:44 pm August 21st, 2021
Photo: Bigstock

Duties and taxes on rice imports have been reduced to 25%

The Ministry of Food has so far permitted 71 private companies to import 400,000 tons of rice after sorting the applications received till August 18.

It has also sent a letter to the Ministry of Commerce seeking allocation in favor of the 71 applicants.

Of these imports, some 362,000 tons is boiled non-basmati rice and 56,000 tons is Aatop rice, reports Bangla Tribune.

The government aims to stabilize the price of rice in the market with this approach.

This opportunity is valid till October 30 for all entities, but the application deadline is August 25.

According to sources at the Ministry of Food, the conditions for importing the rice state that the LC must be opened within 15 days of the order of allotment and the related information including the Bill of Entry must be submitted to the ministry via e-mail immediately.

Also Read - Prices of essential goods remain high

If the trader fails to open the LC within the specified date, the allotment will be canceled.

Moreover, the traders must market all the imported rice all over Bangladesh by September 25. Additional IP’s (import permits) of allotment cannot be issued. 

The rice may have a maximum of 5% broken grains and must be sold in plastic sacks. It cannot be re-packed in the name of the proprietor.

Rice prices have been on high since early August, as Sharna rice is being sold at TK50-52 as compared to Tk48 in July. On the other hand, BR-28, which was sold at Tk50-52 in July, has risen to Tk54-55 per kg.

Coarse rice varieties sold at Tk50 per kg recently. It was Tk46 last month showing an increase of 5.5% in a month and 14.12% more than last year.

On July 8, the Ministry of Food sent a letter to the National Revenue Board (NBR) requesting a reduction in import duties and taxes.

Following the request, the NBR issued a notification to reduce the import duty on rice from 72.5% to 25%. 

Earlier, the import duty was reduced to 25% in December last year and expired in April.

Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail