Govt extends tenure by one year for 28 firms

The government has extended the timeframe to export aromatic rice by one year for 28 traders, sources said.
The Ministry of Commerce (MoC) on Sunday extended the previous permission regarding the issue.
With the extension, the traders will be able to export 18,755 tonnes of aromatic rice until June 2024.
During shipments of scented rice, the companies/traders concerned will be required to follow the Export Policy 2021-24, while physical examination must be completed by the customs authority. Besides, the rice will be exported in transparent packets.
The measure would promote the country's export, helping local brands to retain their share in the global market, a MoC high official said.
However, the hardship of consumers would intensify further due to export of aromatic rice. The item is selling at high prices in the domestic market despite its bumper production, experts concerned said.
In 2022, the Ministry of Food requested the MoC to impose a ban on export of aromatic rice. On 30 June 2022, the MoC imposed the ban to control its price in the local market, which came into effect from July 01. The ministry cancelled the export permission it gave earlier to 41 companies.
During the last one year, local rice exporters repeatedly urged the government to withdraw the export ban to safeguard their international market share.
In June 2023, the Bangladesh Rice Exporters Association (BREA) urged the MoC to take necessary steps in this regard, as local farmers had a bumper production of aromatic rice this season.
When contacted, a senior official said, "The ministry allowed a trader to export 1,000 tonnes of aromatic rice under special permission on May 24."
There are opportunities to export 25 types of aromatic rice, subject to special approval by the MoC, as per the export policy. Before the ban, the ministry allowed export of the item on a case-to-case basis.
Different private firms, including Ispahani, Square and Pran, export an estimated 10,000-16,000 tonnes of packaged aromatic rice to more than 135 countries every fiscal year.
Besides, 4,500-10,000 tonnes are exported for the expatriate Bangladeshis working and living in different countries.
Local aromatic rice is exported to the countries like the United Arab Emirates, Saudi Arabia, Australia, Brunei, Bhutan, Canada, Switzerland, the UK, France, Germany, Finland, Greece, Hong Kong, Ireland, Italy, Jordan, Japan, Lebanon, the Maldives, Nepal, New Zealand, Myanmar, Mauritius, Malaysia, Kuwait, Liberia and South Africa.
Bangladeshi Chinigura, Kalijeera, Kataribhog, Basmati (locally known as Banglamoti) and Nenia rice varieties have high demand in the overseas markets.

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