Tariff Commission for no duty on rice imports

The Bangladesh Trade and Tariff Commission has recommended that the National Board of Revenue (NBR) remove duties on rice imports to help ease consumer costs.

This recommendation, sent to the NBR on Tuesday (October 29), follows the commission’s analysis of the international rice market, according to sources in the Ministry of Commerce.

The commission's report noted that on October 20, the government reduced rice import duties to 25 per cent, anticipating a potential rice shortage. 

However, the analysis shows that even with the reduced duty, rice imported from Thailand would cost Tk 92-95 per kg in the local market, which is higher than current local prices, while imports from India would cost around Tk 75-78 per kg.

To make rice imports more affordable and encourage import activity, the commission has proposed a complete removal of duties for a specified period. 

This temporary lift on duties aims to boost supply and stabilise prices domestically, as recent floods have affected rice production in the country.

NH/MSU/NMA