Talks on Indian rice import end inconclusively

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FE Report
The government's bid to import 0.4 million tonnes of rice from India has suffered a setback after New Delhi asked the price at US $550 per tonne, sources said.
India has demanded higher price for the rice during the concluding day of the two-day talks in Dhaka Tuesday, meeting sources said.
The meeting ended inconclusively after the Indian side demanded an "unfair" price for the rice, one meeting official said.
India had agreed on fixation of $399 a tonne for export of 0.5 million tonnes of rice during negotiations with Bangladesh in January and February.
The officials, however, said the talks between senior officials of the Bangladesh food ministry and three state agencies concerned of the Indian government will resume early next week.
"We have adjourned the meeting for five days," Mollah Waheduzzaman, secretary of the Ministry of Food and Disaster Management, told the FE.
Refusing to make any comment on pricing, he said both the sides decided to convey the outcome of the discussion to their respective governments to reach consensus during the forthcoming meeting.
When asked, Mollah said there was discussion on timeframe and mode of rice shipment.
Mollah said: "We have requested the Indian side for supplying 0.4 million tonnes of rice by next 60 days in four installments."
Emerging from the meeting, director general of the Food Directorate Pius Costa said the Indian exporters will return on March 23 to resume the talks.
"It will not be helpful if we do not get the rice by the timeframe. We want it to keep prices of rice stable in the market before the Boro harvesting starts," he said.
He said 17,000 tonnes of rice reached the Chittagong seaport Monday and another 50,000 tonnes of rice have already been received.
Meanwhile UNB reports from Benapole adds, Indian rice export to Bangladesh through the land ports resumes today (Wednesday) after 12 days following relaxation of ban by the Indian Central government.
Indian exporters association leader Tapan Dev Nath announced at Petrapole that Central Commerce Minister Kamal Nath, after two rounds of talks with them, has agreed to allow export of rice to Bangladesh at $505 per tonne under the L/Cs opened before refixing the export price at $650.
The government agreed to the demand of exporters who had threatened to cut off all exports to Bangladesh through the land ports, if delivery of rice already sold at $505 per tonne is not allowed.
Some of the Indian land ports also went on strike, said Tapan Dev.
About 3,000 trucks loaded with rice have been waiting at Petrapole to enter at Benapole port.
Reports from Bhomra, Darshana, Sonamasjid, Hilli and Burimari land ports said scores of rice loaded trucks waiting at the Indian side will deliver the consignments today.
India has jacked up the rice export price to $650 from $505 per tonne and imposed restriction on export at previous price, causing anger and worries of the exporters.
Informed sources said a section of greedy Bangladeshi importers were encouraged by rice price of around Rs 13 per kg or $325 per tonne in the trading centres of West Bengal. They made large-scale purchases. Those were imported showing the price at $505 per tonne and thus funneling out hard earned foreign currencies.
At $505 per tonne the landing cost of Indian rice in Bangladesh comes to around Tk 36 per kg. But how those are sold at open market at around Tk 33kg, questioned many.
Price of Indian rice will increase to around Tk 47kg, if imported at its refixed price of $650 per tonne, estimated the importers.