Rice Price Rise: Effect of rice shortage in Bangladesh on India, prices increased by 10% in five days

Rice Price India: In the last five days, the prices of rice have seen an increase of up to 10 percent in the Indian markets. Rice coming from West Bengal, Bihar, and Uttar Pradesh is witnessing a rise in prices. According to media reports, the reason for this increase in rice prices in the Indian markets is our neighboring country Bangladesh. Our neighboring country Bangladesh usually meets its rice requirements by buying rice from the Indian states of West Bengal, Uttar Pradesh, and Bihar. At present, rice prices in these three states have seen a rise of up to 20 percent in recent days. In other parts of the country also, these states are not untouched by the increase in the price of rice, the price of rice in the Indian market has increased by up to 10 percent.

According to reports, there is a shortage of rice in Bangladesh these days, so rice is becoming expensive there. The Bangladeshi government has decided to reduce the duty to increase rice imports from India to check inflation. On June 22, a notification was issued by the Government of Bangladesh. It has been said in this notification that till October 31, permission is being given to import non-basmati rice. The Bangladesh government has reduced the import duty and tariff on rice imports from 62.5 percent to just 25 percent.

Let us tell you that for the first time Bangladesh has decided to buy rice from India so soon. According to media reports, Bangladesh fears that India may restrict the export of rice to control inflation in the domestic market. Normally Bangladesh imports rice in September or October.

There are reports that after the Russo-Ukraine war and India's ban on wheat exports, there has been a shortage of food grains in Bangladesh. Many areas of Bangladesh are currently in the grip of floods, due to which paddy cultivation has been affected there. According to reports, Rice Export Association President BV Krishna Rao has said that in the last 5 days, the price of non-basmati rice in India has increased from $ 350 per tonne to $ 360 per tonne. This rise in the market has come after the news of the opening of imports from Bangladesh. Wheat prices are also increasing continuously in Bangladesh, due to which flour has become very expensive there. In this situation, Bangladesh has decided to import rice as soon as possible to give relief to its people from inflation.

Also Read: Russia Ukraine Crisis: European Union gave candidate status to Ukraine, and Russia occupied two villages