Govt aims to increase custom duty on import of rice

১৩ ই নভেম্বর, ২০১৬ বিকাল ৩:১৬

The government aims to increase its storage capacity to 25 lakh tonnes by the year 2021, from 20 lakh tonnes at present. They set to incre.ase customs duty on import of rice to 20 per cent from the existing 10 per cent for ensuring fair price for local farmers. They were also planning to permit private sector to export rice at limited scale taking the advantage of increased rice production in the country. They set to increase customs duty on import of rice to 20 per cent from the existing 10 per cent for ensuring fair price for local farmers. To reduce stocks, Prices of rice has been slashed to Tk 20 a kilogram respectively for open market sales (OMS); previously, it was Tk 24. Local rice producers and millers have also been demanding for increasing the duty to prevent the further fall of rice in domestic market. The ministry apprehended that the price of rice might fall further in upcoming Aman procurement season if the import duty is not hiked. Currently, private sector can export only aromatic rice.

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