Bangladesh has decided to export around 1 to1.5 million tonne of rice.
“The commerce ministry has already taken the initiative. The decision has been taken keeping food safety in mind,” Agriculture Minister Abdur Razzaque told the media on Thursday (May 30).
He said that the government is also considering raising incentives to 25 or 30 percent from 20 percent to encourage rice export and has already increased duty on rice import from 28 percent to 55 percent to discourage import.
The minister attributed the recent fall in rice prices to large production amid favourable weather, government incentives, excessive rice import and its huge stock.