As soon as the import of rice from India started, the market started to be affected. After decreasing in the wholesale market, the price of rice has started decreasing in the retail market of Dhaka. In the last two days, retail prices have fallen by Rs 1 to 2 per kg. The price of coarse rice has decreased more. Medium and narrow rice standards have decreased by one and a half rupees per kg. But there is no effect on high priced rice like Nazirshail.
This image was found after visiting Mohammadpur Krishi Bazar, New Market Kachha Bazar, Kanthal Bagan and Caravan Bazar in the capital on Sunday. Wholesale and retail rice traders also say that the price of rice has started to decrease. However, as much as the wholesale price of rice has decreased in the Naogaon market, it has not decreased as much in the capital market.
The government allowed the private import of 10 lakh metric tonnes of rice in a phased manner in the last week of June. 86 thousand 900 metric tons of rice has been imported till yesterday. Out of which 40 thousand metric tons of rice has arrived in Bangladesh through various land ports from India after August 30. Traders were less interested in importing rice as the dollar market was more volatile in July.
A notification by the National Board of Revenue (NBR) on August 28 reduced the import duty on rice. The total duty on rice import has been reduced from 25 percent to 15 percent. Since then traders are again showing interest in importing rice. Due to this, the price of rice in the market of the country has started to decrease little by little.
It has been seen from the market that the price of coarse rice Swarna and China Iri was Rs 55 per kg in retail even two days ago. It is now selling for around Rs.53. If you buy more than 10 kg, many traders are keeping another rupee less per kg. In the retail market, pajama is selling at around Rs 56 among medium rice—up from one-and-a-half rupees two days ago. BR-28 rice is being sold at around Tk 57 to Tk 58 per kg. Thin miniket rice is being sold at a low price of Tk 69, down from Tk 70 to Tk 1. There are several other types of minikits, which are also starting to drop wholesale. However, the price of Nazirshail rice did not decrease. It is between Rs 75 and 85 as before.
Abdus Salam, the owner of Faridpur Rice Agency in Mohammadpur Krishi Bazar of the capital, told Prothom Alo, “We can now buy wholesale rice at Tk 100 to Tk 150 per sack due to the effect of imports. The impact of which has started to affect the retail market. But whether the price will decrease further or not, it depends on how much the import is.
Almost the same thing is said by the owner of Bangladesh Rice Agency, the rice trader of Newmarket raw market. Azad He told Prothom Alo that the price of coarse and medium rice has decreased by Tk 1 to Tk 2 per kg. In the case of narrow rice, the impact is less, with a reduction of Rs 1 per kg. However, the price of good quality narrow rice and aromatic rice has not decreased yet.
People concerned say there are other reasons for the fall in prices apart from the arrival of rice from India. Such as phased market raids, distribution of subsidized rice through OMS to the poor across the country. Apart from this, the scheme of giving 10 kg of rice per month to the family card holders through Trading Corporation of Bangladesh (TCB) is going on. All in all, the price of rice in the market has started to decrease.
Traders believe that the price of rice will decrease by 1 to 2 rupees per kg by the end of this week. The wholesale rice traders of the capital say that earlier they called mill owners and asked for rice, but they did not want to give it easily. Now mill owners themselves are trying to sell rice by phone.
Referring to the decline in the rice market, General Secretary of Bangladesh Auto Major and Husking Mill Owners Association Layek Ali told Prothom Alo, “Wholesale price of rice has decreased. If imports increase, it will decrease further. But in that case the mill owners may have to count some losses. Because the cost of making rice from paddy is still high