Rice Imports from India this time has brought relief in the local rice markets of Bangladesh. India known for its agricultural practices and popular for its values of Vasudhaiva Kutumbakam is exporting rice to Bangladesh to help them curb the issues related to rice. A significant volume of rice, totaling 104,859 metric tons, has been imported through the Hili Land Port over the past 35 days, leading to a notable decrease in rice prices across the country. Notably, several initiatives by the Indian government have helped nations across the globe to overcome issues related to agriculture and farming or even in cases of starvation.
Rice Imports from India Led to a Notable Decrease in Rice Prices in Bangladesh
Md. Shakhawat Hossain Shilpi, President of the Dinajpur Hili Land Port Importer-Exporter Association also reported that rice imports from India brought big relief in the local rice markets of Bangladesh. The President of the Dinajpur Hili Land Port Importer-Exporter Association, confirmed that this substantial import, facilitated by over 2,400 Indian trucks over 35 days, has had a direct impact on the domestic rice market.
Further, revenue officer of the Hili Land Port Customs Division, also reported that a total of 2,421 trucks brought in the rice from August 12 to September 17, with rapid clearance processes underway due to high demand in the country’s market. The rapid clearance was given to curb the rising demand of rice in Bangladesh and overcome the ongoing issues related to rice in Bangladesh.
Rice Imports from India Led to Decrease in Rice Prices
Anil Chandra Roy, a retail trader in Hili, specified that coarse rice, previously sold at Tk 55 per kg, is now retailing for Tk 50 to Tk 51, while Shompa Katari rice, which was Tk 74 per kg, is now selling for Tk 68. Further the retail trader expressed optimism that rice prices would continue to fall in future. Customs officials have confirmed that import activities are ongoing, further contributing to the declining trend in rice prices.