Bangladesh: Rice Prices Surge as Imports Stall, Millers Reap Profits
14-Jul-2025 09:56 AM
Bangladesh: Rice Prices Surge as Imports Stall, Millers Reap Profits
★ Private rice imports in Bangladesh have come to a near halt following the expiry of the government's zero-duty facility on May 26. A high import duty of 62.5% has been reinstated on rice imports.
★ With imports halted, market competition has dwindled, allowing rice millers to capitalize on the situation and earn higher profits.
★ Rice prices are currently 10–15% higher than the same period last year.
★ According to the Ministry of Agriculture, Bangladesh has recorded a bumper Boro rice harvest this season, with production reaching 20.6 million tonnes.
★ The country has a food stock of over 1.8 million tonnes, including 1.4 million tonnes of rice.
★ So far, the government has procured 1.1 million tonnes of rice under the ongoing Boro procurement drive and aims to buy 1.75 million tonnes by August 31.
★ Bangladesh imports over 1.25 million tonnes of rice annually, nearly 40% of which comes through the private sector.
★ Most of these imports come from India. However, since the high import duty came into effect, rice exports from India to Bangladesh have come to a standstill.