Rice imports hit record high | Economy | ABnews24

Thu, November 22, 2018
Rice imports hit record high
Dhaka, 16 Feb, Abnews: Rice import to break three decades’ record this fiscal year due to the huge demand from private traders for high prices in the local market.
 
As of February 9, imports of the grain stood at 28.90 lakh tonnes which was 1.33 lakh tonnes in fiscal 2016-17.
 
Of the amount, private traders brought in 21.29 lakh tonnes while the government brought 7.61 lakh tonnes.
 
In fiscal 1998-99, 30.08 lakh tonnes rice were imported, which was a record.
 
As of January 27 this year, letters of credit have been opened to import 37.55 lakh tonnes of rice.
 
The buoyancy in imports continues even though farmers are cultivating boro after harvesting aman paddy.
 
According to data from the Bangladesh Bureau of Statistics, Aman production estimate has been reduced to 1.25 crore tonnes while aman production was 1.36 crore tonnes in last fiscal year.
 
ABN/Adrian/Jasim/AD
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