Import of 8 lakh MT rice underway, says food secretary

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DHAKA, Aug 21, 2017 (BSS) – The government has initiated the process of importing 8 lakh metric ton (MT) rice out of planned 15 lakh, while 2.50 lakh MT has already reached the country, said a top official today.

“We have already lined up a process to import an estimated 8 lakh MT rice and the process of importing another 7 lakh MT is expected to begin as soon as possible,” Food Secretary Kaikobad Hossain told BSS.

He said some 2.50 lakh MT rice has already reached the country from Vietnam, another 2.50 lakh MT would be imported from Cambodia and the remaining 3 lakh MT would be imported through bidding.

The consignment of some 5.50 lakh MT rice will arrive in the country by the end of September, he said, adding that the process of importing the remaining 7 lakh MT would begin as soon as possible.

Meanwhile, the government has signed a memorandum of understanding (MoU) with Russian Federation to import 3 lakh MT wheat, said the food official, adding that the wheat would reach the country within the next three months.

On Wednesday, the government decided to import 15 lakh MT rice and 5 lakh MT wheat at a meeting of Food Planning and Monitoring Committee (FPMC) at the Secretariat.

To this end, the government has further lowered the import duty on rice to 2 percent from the earlier 10 to encourage import and to tackle any food crisis.

Two months ago, the government slashed the import duty on rice to 10 percent against the backdrop of a major market instability and storage of the prime staple.

“This decision of the government does not mean there is a food crisis in the country,” Food Minister Quamrul Islam said after the FPMC meeting. “In fact, there is no food shortage in the country.” The food minister hoped that the combined efforts will help ease the price of rice in the market. In 2016-17 fiscal, the country imported 58 lakh 23 thousand and 460 MT food grains in the public and private sectors.

Of the total import, 3 lakh 92 thousand and 840 MT rice was brought in the public sector, while 54 lakh 30 thousand and 620 MT wheat and rice in the private sector.