Rice Prices Surge Amid Import Ban Fears

Published : Tuesday, 15 April, 2025 at 11:32 AM Count : 54

The rice market is facing growing instability as import permissions from India expired on April 15. Despite a steady inflow of 120 to 150 trucks daily through the Hili land port, rumors of halted imports have already pushed up prices by Tk2–3 per kilogram.

At Hili, even though imports surged in the days leading up to the deadline, prices in both wholesale and retail markets continued to rise. Swarna rice, which recently sold for Tk50/kg, is now going for Tk52–53. The fine-grain variety Shampa Katari jumped from Tk64–65 to Tk67–68, with some vendors charging even more due to speculation that no further shipments will arrive from India.

Wholesale buyer Firoz Hossain shared his concerns: “Previously, we could supply markets at the old price. Now, each kilogram costs Tk2–5 more. Large importers are not releasing rice immediately; they're stockpiling, anticipating a shortage.”

Another trader, Yasin Molla, added, “Prices rose another Tk2–3 overnight. Those holding rice are holding back stock to sell later at higher rates.”

In the days just before the import window closed, importers and C&F agents worked through the Bengali New Year holiday to maximize shipments. Still, unease persists.

Customs officer Atikur Rahman confirmed the deadline: “Only those with valid LCs dated before April 15 can import. Around 100–150 trucks are arriving daily. We're helping importers clear rice quickly.”

Importer Mostafizur Rahman expressed frustration: “Many of our trucks are still stuck in India. Even with valid LCs, not all rice has arrived. We wanted at least one more month’s extension to stabilize the market.”

Another importer, Lalit Keshera, explained the broader pressures: “Demand is high, but supply is tight. On top of that, rice prices in India have gone up slightly, and the rising dollar rate has raised import costs. All of this is fueling market pressure.”

With the import window now closed, rice prices are climbing rapidly. Importers are calling for an urgent extension to prevent further spikes. They warn that local rice from the upcoming harvest won't hit markets immediately, and continued imports are essential to keeping things balanced until then.

FP/Raj