Govt to double import duty on rice
The government has decided to double the import duty on rice – to discourage import of the staple and encourage domestic crop growers.
The duty, hiked to 20 percent from the existing 10 percent, will be implemented soon, Food Minister Quamrul Islam said at a meeting today.
A gazette notification will be issued in this regard, he told the meeting of Bangladesh Auto, Major and Husking Mills Association in response to their demand.
Soaring rice imports have been affecting farmers all over the country – compelling the authority to slap a 10 percent import duty after the first quarter of this year.
The hike, 4 percent, was made effective from May 11, after a gap of eight years.
The mill-owners’ association have been demanding 30 percent import duty on rice, for what they said “to ensure fair pricing for the farmers”.