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Download PDF Import of rice from India at the previous cost of $505 per tonne begins today through Benapole land port as India yesterday finally allowed 3,000 rice-laden lorries stranded at Petrapole port for the last 12 days to deliver their consignments.
But the final deal for importing another 4 lakh tonnes of rice could not be inked yesterday despite several rounds of discussions between authorities of the two countries in the last two days.
The decision to allow export of the rice was taken after two rounds of meeting between India’s central Commerce Minister Kamal Nath and the Organisation of Export Import Association on Monday-Tuesday.
Earlier on Monday, India’s Federation of Export Import Association threatened to stop export-import through borders of the two countries indefinitely from Wednesday. Trade through the borders between Bangladesh and India is supported by 375 Indian exporters’ associations.
The lorries had been stranded at Petrapole port since March 6 after India imposed restrictions on exporting rice to Bangladesh at prices below $650 per tonne on March 5.
IMPORT OF 4 LAKH TONNE RICE
Meeting sources said negotiation teams from both the countries are yet to reach a consensus on the price of rice, timeframe for the export, mode of transportation and procurement.
“But, the negotiation process is not over. It will continue up to March 23 to have a fruitful outcome as both the countries seem to be in a win-win situation about striking the final deal,” said Pius Costa, director general of Directorate of Food, after the third round of negotiation meeting yesterday.
He said the issues of price and timeframe are very important for Bangladesh since the next harvest of boro crop is very close.
“I have asked them to supply 4 lakh tonnes of rice in three phases–one consignment in 30 days, another in 45 days and the last in 60 days,” Pius said, adding, “If they can ensure us the supply of rice within this timeframe, we can solve our rice problem.”
He said the Indian side wants to send rice through the Chittagong Port. “But we want the import through the land port,” he added.
In reply to a question, he said at present the country has a stock of 6 lakh tonnes of rice and wheat and 5,000 tonnes of rice have already arrived in the country from India in the last two days as part of a 1 lakh tonne consignment at $399 per tonne.
He said the arrival of 1 lakh tonne rice will be completed by April 15. A total of 17,000 tonnes of rice was imported yesterday by private sector importers.
“We should remove confusion from people’s mind that the Indian government only committed to export 5 lakh tonnes of rice to Bangladesh. But, L/C was opened for importing 1 lakh tonne of rice at $399 per tonne. The price of remaining 4 lakh tonnes would be determined after the negotiation,” Pius said.
SK Kar of India’s Mineral and Metal Trading Corporation, S Sarker of State Trading Corporation, DPS Narang of Project Equipment and Commodities Ltd and YK Jain of National Agricultural Cooperative Marketing Federation of India attended the meeting for the trading agents, sources said.
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