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There have been complications with rice imports. It has been alleged that those who have been allowed to do LC for import in the private sector are delaying the import of rice. So far no imported rice has arrived in Chittagong market. As a result, the price of rice in the wholesale market has gone up by Tk. 100 per sack.
However, importers complain that the price of rice has gone up in India. Moreover, it is not possible to import and market rice within the time frame fixed by the government. Problems have arisen due to change in HS code of NBR after reduction of import duty. Due to which LC is not going to be done.
According to the wholesalers, the syndicate is also manipulating the rice import. It is necessary to find out whether there is a conspiracy to import rice to maintain instability in the market. Extreme dissatisfaction is prevailing among the people as the price of rice is going up.
Wholesale rice traders said the rice market was down a few days ago. Mill owners have suddenly increased the price of rice by Tk. 100 per sack (50 kg) since Sunday (17 Jan. 2021). As a result, the supply of rice in the wholesale market has decreased.
According to port sources, only 9,000 tonnes of rice was initially imported through the port after the LC was allowed to open. After that no more rice came through the port. Besides, rice imported through land port has not reached Chittagong market so far. Domestic new and old rice is being sold. Vendors said prices were not falling as supply in the market did not increase.
Abul Bashar Chowdhury, the country's top importer of consumer goods, has received a permit to import 10,000 tonnes of rice. He said LC has not yet imported rice. Because the government has imported about two and a half lakh tons of rice through tender. And the private sector has been allowed to open LCs for importing about 5 lakh tonnes. And all the imported rice has been approved for import. Rice has also been officially imported from India. Again, privately, everyone has rushed to import from India. As a result, the price of rice has gone up in India. And there is a problem with the timing of import and marketing.
Importer Mohiuddin Ahmed Belal said the government has allowed the import of cooked rice. There is no buyer of cooked rice in Chittagong. We have written to the ministry for permission to import Atap rice. I will not import rice if I do not get permission from Atap.
The rice importers said that the traders could not do LC as the code of import duty was changed. As a result, India is not exporting rice under the new tariff code. They are having problems. In Chittagong, four companies have received permits to import 40,500 tonnes of rice. None of them did LC. "I have been allowed to import 4,000 tonnes of rice," Mohammad Hannan, a trader with a rice import permit, told. But LC is not going to be done as new code has been issued on tariff. India is having trouble with the new code. As a result, the price of rice is rising again in the market.
Source: Online/SZK
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