rice prices: Rice Price: Rice becomes costlier by 5% in a week, know what is its Bangladesh connection

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New Delhi: Since last Friday, the price of rice has increased by five percent. This increase has been seen in the rate of rice due to reduction of import duty on rice import by Bangladesh from 25 percent to 15.25 percent. Bangladesh has reduced the duty to promote the import of rice and its effect has been seen in the domestic market. Rice is exported to Bangladesh from West Bengal, Uttar Pradesh, Bihar, Madhya Pradesh and Karnataka.

Know what the industry has to say

Suraj Aggarwal, CEO of Rice Villa said, “Due to the reduction of duty on import of rice by the Bangladesh government, there has been a sudden increase of four percent in the price of rice. The neighboring country will buy rice from India. Will buy rice from Vietnam in some quantity.”

He said, “Bangladesh will buy rice of Sambha Mansoori, Sonam and Kolam varieties from UP, Bihar, Madhya Pradesh and Karnataka. In the last one week, the price of these varieties has increased by 3-4 per cent. From West Bengal. Bangladesh procures rice of Miniket variety on a large scale from this state due to its proximity.

He said that in West Bengal, a five percent jump has been registered in the prices of Miniket variety of rice.

This is also the reason for the inflation of rice
Weak planting of paddy has also led to an increase in rice prices. The area under total paddy sown area decreased by 5.6 per cent to 383.99 lakh hectare till September 2 this year as compared to the Kharif season of 2021. In the Kharif season of 2021, it was 406.89 lakh hectares. UP, Bihar, Jharkhand and West Bengal are responsible for this.

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