Despite the government’s tax exemptions on rice imports and a recent harvest, rice prices in Bangladesh have risen by 7.14% over the past year, while international prices have dropped by 24.19%. A report by the Bangladesh Trade and Tariff Commission (BTTC) reveals that the country’s annual rice demand is between 35 and 38 million tons, with production at 40.695 million tons. To stabilize prices, the government reduced import duties on rice and other essentials like oil, sugar, and dates. However, BTTC expressed concerns over the rising prices of lentils and chickpeas in the international market, suggesting the need to monitor local stocks and supplies. The government has taken various measures to ensure market stability during Ramadan, including tax exemptions and efforts to curb unnecessary expenses. The BTTC believes these initiatives will positively impact the local market, helping to maintain stable prices for essential commodities.
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