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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 If you find this information useful, click on the yellow thumbs up sign under the photo and also share this with your farmer friends using the options given below.
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