Country’s rice import payments increased 41.22 times in the July-April period of the current fiscal year as the government’s initiative of procuring food staple to keep rice price stable.
The latest Bangladesh Bank data showed the country’s import payments for the staple food reached $696.6 million in July-April whereas the value was $16.9 million in the same period of FY20.
Besides, rice imports worth $182.7 million have been traded solely in April, this year.
The government reduced the import duty on rice to 25 per cent from 62.5 per cent, with a view to facilitating the import of the commodity and to enhance its stock.
A food ministry update showed that 7,37,820 tonnes of rice were imported in July-March of FY21. Out of the amount, the private sector imported 5,21,500 tonnes and the government imported 2,16,620 tonnes.
Import of another 50,000 tonnes of parboiled rice from India is in the final stages, food ministry officials said.