Import of 8 lakh MT rice underway

Says food secretary

The government has initiated the process of importing 8 lakh metric tonnes of rice out of planned 15 lakh, while 2.50 lakh metric tonnes have already reached the country, said a top official yesterday, reports BSS.

“We have already lined up a process to import an estimated 8 lakh metric tonnes of rice and the process of importing another 7 lakh metric tons are expected to begin as soon as possible,” Food Secretary Kaikobad Hossain told the news agency.

He said some 2.50 lakh metric tones of rice have already reached the country from Vietnam, another 2.50 lakh metric tones would be imported from Cambodia and the remaining 3 lakh metric tones would be imported through bidding.

The consignment of some 5.50 lakh metric tones of rice will arrive in the country by the end of September, he said, adding that the process of importing the remaining 7 lakh metric tones would begin as soon as possible.

Meanwhile, the government has signed a memorandum of understanding (MoU) with Russian Federation to import 3lakh metric tones of wheat, said the food official, adding that the wheat would reach the country within the next three months.

On Wednesday, the government decided to import 15 lakh metric tones of rice and 5 lakh metric tones of wheat at a meeting of Food Planning and Monitoring Committee (FPMC) at the Secretariat.

To this end, the government has further lowered the import duty on rice to 2 per cent from the earlier 10 to encourage import and to tackle any food crisis.

Two months ago, the government slashed the import duty on rice to 10 per cent against the backdrop of a major market instability and storage of the prime staple.

“This decision of the government does not mean there is a food crisis in the country,” Food Minister Quamrul Islam said after the FPMC meeting. “In fact, there is no food shortage in the country.” The food minister hoped that the combined efforts will help ease the price of rice in the market. In 2016-17 fiscal, the country imported 58 lakh 23 thousand and 460 metric tones of food grains in the public and private sectors.

Of the total import, 3 lakh 92 thousand and 840 metric tones of rice was brought in the public sector, while 54 lakh 30 thousand and 620 metric tonnes of wheat and rice in the private sector.

Import of 8 lakh MT rice underway

Says food secretary

The government has initiated the process of importing 8 lakh metric tonnes of rice out of planned 15 lakh, while 2.50 lakh metric tonnes have already reached the country, said a top official yesterday, reports BSS. We have already lined up a process to import an estimated 8 lakh metric tonnes of rice and the process of importing another 7 lakh metric tons are expected to begin as soon as possible, Food Secretary Kaikobad Hossain told the news agency. He said some 2.50 lakh metric tones of rice have already reached the country from Vietnam, another 2.50 lakh metric tones would be imported from Cambodia and the remaining 3 lakh metric tones would be imported through bidding. The consignment of some 5.50 lakh metric tones of rice will arrive in the country by the end of September, he said, adding that the process of importing the remaining 7 lakh metric tones would begin as soon as possible. Meanwhile, the government has signed a memorandum of understanding (MoU) with Russian Federation to import 3lakh metric tones of wheat, said the food official, adding that the wheat would reach the country within the next three months. On Wednesday, the government decided to import 15 lakh metric tones of rice and 5 lakh metric tones of wheat at a meeting of Food Planning and Monitoring Committee (FPMC) at the Secretariat. To this end, the government has further lowered the import duty on rice to 2 per cent from the earlier 10 to encourage import and to tackle any food crisis. Two months ago, the government slashed the import duty on rice to 10 per cent against the backdrop of a major market instability and storage of the prime staple. This decision of the government does not mean there is a food crisis in the country, Food Minister Quamrul Islam said after the FPMC meeting. In fact, there is no food shortage in the country. The food minister hoped that the combined efforts will help ease the price of rice in the market. In 2016-17 fiscal, the country imported 58 lakh 23 thousand and 460 metric tones of food grains in the public and private sectors. Of the total import, 3 lakh 92 thousand and 840 metric tones of rice was brought in the public sector, while 54 lakh 30 thousand and 620 metric tonnes of wheat and rice in the private sector.