The government has invited applications from private organisations to import rice, with a submission deadline of November 14, 2024.
According to a notification issued on Sunday, interested parties must apply online through the Ministry of Food's website or via the MyGov portal.
No direct applications will be accepted. Organisations that had previously submitted applications must reapply under this new notification, said the food ministry.
The move follows the government's recent decision to reduce all duties on rice imports, leaving only a 2.0 per cent Advance Income Tax (AIT). The National Board of Revenue (NBR) stated this reduction aims to bring down rice prices by more than Tk 25 per kilogramme (kg).
On October 20, the government cut rice import duties from 62.5 per cent to 25 per cent, and again on Thursday last further reviewed to 2.0 per cent (AIT) to address the steep rise in rice prices over the past three months. This reduction is expected to stabilise the market and ease the cost burden on consumers amid rising grain prices.
Prices of coarse varieties of rice shot up to Tk 55.56, medium varieties to Tk 66-70 and finer varieties to Tk 78-90 a kg (non-branded) in the retail market, marking a 9.0-14 per cent surge, according to the Trading Corporation of Bangladesh.
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