Bangladesh has resumed importing rice from India through Binapole Port after nearly two years, marking a significant development in the country's efforts to stabilize its rice market.

The first shipment, consisting of three trucks carrying 105 tonnes of non-basmati rice, arrived at the port on November 18.

This rice is destined for a company in Jessore, and the shipment is expected to reach the company soon after clearing customs procedures.

To facilitate the import, the company has received an Import Permit (IP) certificate for the rice, with plans for additional rice shipments expected shortly.

The price of the rice in this first consignment is approximately $45,150 (54.18 lakh Bangladeshi Taka), and with additional costs such as transportation, export fees, and port charges, the final price per kilogram is expected to be around 55 Taka.

This resumption of imports follows the Bangladesh government's decision to remove import duties on rice in response to rising domestic rice prices.

Private traders have been allowed to import rice, with India now becoming a key supplier due to the decline in Indian export prices. This is expected to help stabilize the rice market in Bangladesh by increasing the supply of rice in the country.

A total of 24 authorized companies have been granted permission to import rice, including 12 companies from Jessore, which have been allotted a combined total of 73,000 tonnes of rice.

Additionally, they are allowed to import 19,000 tonnes of Atap rice. However, orders for rice must be placed by December 10, which limits the time frame for importing these quantities.

The re-establishment of rice imports from India is seen as a key step towards stabilizing the rice supply and controlling prices in Bangladesh, ensuring that the market becomes more stable and less volatile in the coming months.