Ban on rice export to continue

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Monira Munni
The government has extended the ban on rice exports for another six months in order to cool down prices of the staple, food minister said Wednesday.
"The restriction on rice export for both aromatic and non aromatic will continue to keep the price within the capacity of common people," Abdur Razzak, minister for Food and Disaster Management said.
"The government has issued the order on extension of the ban Tuesday prohibiting export of both aromatic and non- aromatic rice until end of 2010," he said.
The six-month ban order on export of rice, excepting the fine variety ones, was first enforced on May 6, 2008 amid severe short supply of foodgrain in the country, a commerce ministry official said.
The ministry of commerce, upon expiry of the period, extended the ban for all categories of rice for another six months in November, 2008. Afterwards, it twice extended the ban for similar period before expiring on May 19, 2010.
Prices of rice at the local market are increasing and people are purchasing the staple food at a higher rate compared to last year, the minister added.
"Although the harvest of Boro rice is over, its prices are going up," Mr Razzak said.
Bangladesh exported rice worth about $ 9.0 million in fiscal 2007-2008 and $ 5.97 million in FY 2006-2007.
Currently, the country's rice stock is around 10 million tonnes.