Bangladesh to reinstate 28% duty on rice import.

Bangladesh commerce minister said that the government has decided to reinstate 28 per cent duty on rice import in the budget of next financial year 2018-19 to protect the interests of grows as the country has witnessed a bumper yield of aman and boro, the two major crops of the country. Last year, we reduced the import duty on rice to 2% from 28 per cent to meet the shortfall of the crops as flash floods damaged production of boro rice in haor areas. This year the country has witnessed a bumper production of rice and we should protect the interests of the farmers. The commerce minister said that against the production loss of 10 lakh tonnes of rice, the country imported huge quantity of the crops and now the stock of food grain was sufficient. The 28% cent duty on rice import would be effective from June 7, when the national budget for the 2018-19 fiscal would be placed in parliament.