Deadline for marketing imported rice extended

The government has again extended the deadline for marketing imported rice in the domestic market by the traders concerned, an official said.

To this end, the Ministry of Food (MoF) had asked the authority of the Directorate of Food to comply with its directives by pursuing the traders for marketing their imported rice in the local market by April 30.

A high official of the MoF, preferring anonymity, said that the traders who had opened letters of credit (LCs) between February 15 and March 25 last must market their imported rice in the local market within the stipulated time.

Earlier, the deadline was set at April 20, 2021, he said, adding that the government would not extend the timeline anymore.

The government had taken initiatives including reducing rice import duty to 25 per cent from 62.50 per cent at private-sector level to keep rice prices stable in the local market.

On December 27 last year, the MoF had asked the traders to apply to the ministry by January 10, 2021 for getting approval for importing rice.

It had conditionally given approval to the traders for importing 1.56 million tonnes of rice. But the traders could not purchase this amount of rice until today.

The MoF also cancelled approval given earlier to some traders who failed to open LCs or could not open LCs on time.

Until April 21 last, only 0.65 million tonnes of rice were imported under several LCs against the targeted import of over 0.95 million tonnes.

Different varieties of rice were selling at high prices in the kitchen markets of the capital on Saturday.

Coarse variety of rice was sold between Tk 52 and Tk 55 a kilogramme, depending on its quality while fine varieties like najirshail and minicate were traded at Tk 60-Tk 70 a kg.