AgroStar Krishi Gyaan
30 May 19, 01:00 PM
Krishi VaartaOutlook Agriculture
Bangladesh Government Increases Duty on Rice Imports to 55%
The government of Bangladesh has increased the duty on rice imports by 27% to 55%, which will impact the export of Indian non-basmati rice. Bangladesh has suffered a major decrease in exports of non-basmati rice from India by about 76% in the financial year 2018-19.
According to the Bangladesh Government's National Revenue Board, the duty on rice imports has been increased to 55% to protect the interests of domestic farmers, which will be implemented immediately with immediate effect. Rice imports in Bangladesh have so far amounted to 28%.
Bangladesh imports more non-basmati rice compared to India, according to a senior APEDA official. He said Bangladeshi exports fell by 76% in the 2018-19 financial year due to the 28% duty. There is a possibility of further reductions in exports by increasing import duty.
Source: Outlook Agriculture, 24 May 2019
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