Wholesale rice price drop not yet reflected at retail markets

Staff Correspondent: Prices of different varieties of rice have started going down in wholesale markets but the reflection is not seen yet at retail.

However, the concerned authority opined that the price of main food grain will decrease in retail markets within next week.

Businessmen said rice mill owners used to store rice in their godown and sale in market slowly. But, now they have started to sell their rice as the government imported rice.

According to a statistic of Trading Corporation of Bangladesh (TCB), the price has decreased in Dhaka makets in all kinds of rice by Tk 2-3. 

Secretary of Bangladesh Auto Major Husking Mill Owners Association K M Layek Ali said millions of sacks rice came from India as Bangladesh government lowered import duties on rice from 28 percent to 10 percent.

The impact of imports had now reached the mill level and would decrease the price of all rice varieties, he added. 


risingbd/Dhaka/July 8, 2017/Nasir/Nasim