Bangladesh government endorses 133 firms to export fragrant rice after almost 1.5 years

The minimum price for each kg of rice is $1.6, which is Tk 196

The interim government has greenlighted the export of aroma rice after almost a year and a half, permitting 133 companies to ship out 18,150 tonnes of the food product.

On Thursday, the commerce ministry authorised exports of 100-500 tonnes of rice per shipment in line with a company’s capacity.

The ministry sent a letter to the Office of the Chief Import and Export Controller on Tuesday approving the move.

The letter sets a limit on the quantity and minimum price of rice exports, along with nine conditions that must be met.

According to the ministry, each kg of rice will cost $1.6 at minimum, amounting to Tk 196.

In October 2023, the government restricted the export of rice, including different varieties of aroma rice citing a crisis in the country’s food situation.

On Jan 22, a preliminary decision to open up the export of fragrant rice was made at a meeting of the Food Planning and Monitoring Committee of the Ministry of Food.

According to commerce ministry data, Bangladesh began exporting aroma rice in 2009-10. The government first put restrictions on the export in 2022.

So far, fragrant rice has been exported to more than 130 countries around the world, including the United Arab Emirates, different European countries, the United States, the United Kingdom, Malaysia, Singapore, Brunei, and South Korea, through various corporate organisations.

According to the ministry, the government can ban the export of fragrant rice at any time.

Other conditions include barriers to transferring the permission, meaning the exporter cannot allow anyone else, proper assessment of export goods by the customs authorities, and no excess of specified limit on export quantity.