Bangladesh plans to buy more rice from Myanmar in July

[Aung Zaya]

Writer:
Zeya Nyein
Bangladesh is planning to buy 100,000 to 200,000 tons of rice from Myanmar in July under a government to government agreement, according to Lu Maw Myint Maung, Associate Secretary of Myanmar Rice Federation (MRF).

Bangladesh also bought 200,000 tons of rice from Myanmar under G to G agreement in December last year, according to the MRF.

Bangladesh imported about 1.2 million tons of rice under tender and G to G agreement until December 2017 and one million more tons of rice will be imported, sources said.

Myanmar has signed MoU with Bangladesh to sell 300,000 tons of rice under G to G agreement and has now exported 100,000 tons of rice to Bangladesh till December last year, said Lu Maw Myint Maung.

Myanmar earned over US$96 million from 270,000 tons of rice and broken rice export till May 11 in 2018-19 FY, according to Ministry of Commerce.

Myanmar exported over 110,000 tons of rice and broken rice from maritime trade and over 160,000 tons of rice and broken rice export through border trade after over one month of this fiscal year.

Myanmar exported about 3.6 million tons of rice in this 2017-18 FY due to new markets, breaking over 50 years long records.

@Nilgiri

 

[pikkuboss]

The dead Ummah is dead again.

 

[Skull and Bones]

Lol, they cannot brag much with empty stomach after all.

 

[oOo]

No compromise with chawal and macchi.

 

[Gibbs]

Writer:
Zeya Nyein
Bangladesh is planning to buy 100,000 to 200,000 tons of rice from Myanmar in July under a government to government agreement, according to Lu Maw Myint Maung, Associate Secretary of Myanmar Rice Federation (MRF).

Bangladesh also bought 200,000 tons of rice from Myanmar under G to G agreement in December last year, according to the MRF.

Bangladesh imported about 1.2 million tons of rice under tender and G to G agreement until December 2017 and one million more tons of rice will be imported, sources said.

Myanmar has signed MoU with Bangladesh to sell 300,000 tons of rice under G to G agreement and has now exported 100,000 tons of rice to Bangladesh till December last year, said Lu Maw Myint Maung.

Myanmar earned over US$96 million from 270,000 tons of rice and broken rice export till May 11 in 2018-19 FY, according to Ministry of Commerce.

Myanmar exported over 110,000 tons of rice and broken rice from maritime trade and over 160,000 tons of rice and broken rice export through border trade after over one month of this fiscal year.

Myanmar exported about 3.6 million tons of rice in this 2017-18 FY due to new markets, breaking over 50 years long records.

@Nilgiri

 

[bluesky]

Bangladesh imported about 1.2 million tons of rice under tender and G to G agreement until December 2017 and one million more tons of rice will be imported, sources said.

In many other news BD ministers claim self-sufficiency in rice, other staples, fish, dairy, poultry, beef, mutton and all other food stuffs except onions. How come, here a MM newspaper claiming BD to import at least 2.2 million tons within the span of six months. So, which of the directly opposite claims is true?

 

[TopCat]

I dont think BD will be buying any more rice. They are in the process imposing import tax back on rice as there are bumper crops in this season.
http://www.newagebd.net/article/42894/bangladesh-to-reinstate-28pc-duty-on-rice-import

Bangladesh to reinstate 28pc duty on rice import

Bangladesh commerce minister Tofail Ahmed on Monday said that the government has decided to reinstate 28 per cent duty on rice import in the budget of next financial year 2018-19 to protect the interests of grows as the country has witnessed a bumper yield of aman and boro, the two major crops of the country.
‘Last year, we reduced the import duty on rice to 2 per cent from 28 per cent to meet the shortfall of the crops as flash floods damaged production of boro rice in haor areas. This year the country has witnessed a bumper production of rice and we should protect the interests of the farmers,’ he said at a briefing following a meeting with European Union ambassador Rensje Teerink at Bangladesh Secretariat.
The commerce minister said that against the production loss of 10 lakh tonnes of rice, the country imported huge quantity of the crops and now the stock of food grain was sufficient.
The 28 per cent duty on rice import would be effective from June 7, when the national budget for the 2018-19 fiscal would be placed in parliament, Tofail said.
‘Amid bumper production if we encourage rice import, farmers would not get the right price for their production and they would feel discouraged in producing crops,’ he said.
In June 2017, the government cut the import duty on rice to 10 per cent from 28 per cent to control the soaring price of the staple. The government later reduced the import duty to 2 per cent in phases to increase rice supply in the domestic market.
The commerce minister said that the government would reinstate the previous status of rice import through imposing 25 per cent import duty along with 3 per cent supplementary duty.
About the meeting with the head of the EU delegation, Tofail said that they talked about the fourth review of sustainability compact which would be held on June 25 this year in Brussels.
‘In the meeting, we discussed working together so that Bangladesh could get Generalised System of Preferences Plus benefits in the EU market after the graduation of the country to middle income from least developed one,’ the commerce minister said.
He said that a delegation from Bangladesh would take part in the review meeting and place the progress Bangladesh made.
‘We have already prepared the draft amendment to the labour law reducing membership requirement threshold for trade union registration and the International Labour Organisation is happy with the initiative. I hope the sustainability compact partners would also be happy with the progress that Bangladesh has made after the Rana Plaza building collapse,’ Tofail said.
Teerink said that Bangladesh made commendable progress in last five years but still many things needed to be addressed.
Following the Rana Plaza building collapse, the EU and other partners got engaged with Bangladesh in the sustainability compact with the aim of promoting improvements in labour rights and workplace safety in the country’s apparel sector.

 

[Aung Zaya]

In many other news BD ministers claim self-sufficiency in rice, other staples, fish, dairy, poultry, beef, mutton and all other food stuffs except onions. How come, here a MM newspaper claiming BD to import at least 2.2 million tons within the span of six months. So, which of the directly opposite claims is true?

dont know which one is true. But MOU for more rice deal to be signed in next month and traders and MRF are preparing for this for sure.

 

[TopCat]

dont know which one is true. But MOU for more rice deal to be signed in this month and traders and MRF are preparing for this for sure.

It is a continuous process as long as they can compete after 28% paid as import duty. I dont think it is possible considering low margin in the grain market.

 

[Black_cats]

JUNE 6, 2018 / 10:10 AM / UPDATED 19 HOURS AGO
Bangladesh may bring back 28 pct tax on rice imports - govt sources

https://www.reuters.com/article/us-...ates-now-debate-is-when-to-stop-idUSKCN1J30DE

DHAKA, June 6 (Reuters) - Bangladesh may impose a 28 percent import tax on rice to support local farmers as production from the summer-sown crop is set to surpass the target, two government officials said on Wednesday.

The duty hike would reduce imports, especially from neighbouring India, which emerged as a biggest supplier to the south Asian country last year after floods ravaged its crop.

Bangladesh cut an import duty of 28 percent in two phases in 2017 to 2 percent after domestic prices of the staple grain climbed to a record high.

“At present, the tax on rice imports is only 2 percent. This needs to be raised to protect farmers’ interests as prices have started to fall in the domestic markets,” said a government official on condition of anonymity. The official is not authorised to speak to the media.

Bangladesh’s rice output from the summer crop is likely to hit 19.7 million tonnes against the target of 19 million tonnes, Mohammad Mohsin, director general of Department of Agriculture Extension, told Reuters last month.

The country’s production for 2018/19 as a whole is expected to recover to 34.7 million tonnes, up 6.3 percent year-on-year, according to estimates from the U.S. Department of Agriculture attache in Bangladesh.

“The duty could be increased to 28 percent again,” said another official, adding the hike could be announced on Thursday in the country’s budget for the 2018/19 fiscal year.

In 2017, the lower duty boosted imports by private dealers, with most of the deals struck with neighbouring India.

Bangladesh imported a record of more than 3.7 million tonnes of rice in the July-April period, data from the country’s food ministry showed.

“A duty hike will hit India most. For the last year, exporters in eastern India have been banking on good demand from Bangladesh,” said a Mumbai-based exporter with a global trading firm.

“Now Indian rice will become expensive for Bangladeshi buyers and shipments will slow down,” the exporter said.

Bangladesh will cancel a deal with India to import 150,000 tonnes of rice over a delay in shipments, Badrul Hasan, the head of Bangladesh’s state grain buyer, told Reuters last week.

The deal with India’s state-run National Agricultural Cooperative Marketing Federation (NAFED) was signed in December at $440 a tonne as the government raced to shore up depleted stocks and combat record domestic prices.


Bangladesh, however, had imported 100,000 tonnes of rice from another Indian state agency, PEC, at $455 a tonne.

It also imported 250,000 tonnes of rice from Vietnam and 100,000 tonnes from Myanmar, while 450,000 tonnes were imported through tenders. (Reporting by Ruma Paul and Rajendra Jadhav in MUMBAI; Editing by Mark Potter)

 

[Homo Sapiens]

In many other news BD ministers claim self-sufficiency in rice, other staples, fish, dairy, poultry, beef, mutton and all other food stuffs except onions. How come, here a MM newspaper claiming BD to import at least 2.2 million tons within the span of six months. So, which of the directly opposite claims is true?

1.2 million ton is not certainly in the last year alone. Most probably it is the amount ever brought from myanamr under G to G basis. The report did not claim that this amount procured within last year.Last year our total rice import was 2.2 million ton and bulk of it came from India,Vietnam,Cambodia. Myanmar supplied one hundred thousand ton which was entirely supplied to Rohingya refugee camp. Rohingya refugee prefer burmese rice, it is the reason that Bangladesh is buying rice even this year from Myanmar.Otherwise govt. is prohibiting rice import this year and about to re-impose 28 percent tax on Rice import.This 28 percent tax on rice import was in place before 2017 flood to discourage rice import.
Bangladesh may bring back 28 percent tax on rice imports: government sources
https://in.reuters.com/article/bang...rice-imports-government-sources-idINKCN1J21TJ

This year, we are experiencing a bumper summer rice output. Summer rice output exceeded 19.7 million ton and total rice production is 34.7 million ton this year. Absolutely no need to import any rice except for Rohingya refugee camp. Rohingyas are burmese people,they used to eat burmese variety of rice. so it is logical to feed them the rice they prefer.So this 1 or 2 lakh ton import from burma.

@Aung Zaya @Gibbs @Skull and Bones @pikkuboss @oOo

 

[Aung Zaya]

Absolutely no need to import any rice except for Rohingya refugee camp. Rohingyas are burmese people,they used to eat burmese variety of rice. so it is logical to feed them the rice they prefer.So this 1 or 2 lakh ton import from burma.

lol totally non-sense. according to ur source, the price of Myanmar rice would be at least 1/3 higher than that of rice available in bangladesh.as u said there is a bumper summer rice which is exceed what bd needs is true. why bother to buy Myanmar rice which is more expensive and BD need to wait at least 6 months to filfull the demends. and Rohingya are techinically Bangali and lived the borderline area with BD. so i bet they would prefer BD rice more.

 

[A.A. Khan]

This beautiful bilateral trade should also be shared with the OIC. Beghairat and coward bangla.

@Homo Sapiens Rofl your excuse made me laugh, the rohingya also prefer better shelter than the open camps they are dwelling in with restricted movement. Feels like rice produced in myanmar is differ4nt from the rice prduced elsewhere like thailand, cmbodia or vietnam

When you are supporting Myanmar economy then how can you pressurize them internationally UN can't do jack now even Modi is looking smarter and cleverer due to you idiots diplomatic and economic stupidity. Modi went to sign and is looking afterr its interest whereas Bangladeshi crushing it for their personal interests, laanat on this nation. OIC shuld withdraw support no need to file in UN.

 

[oOo]

1.2 million ton is not certainly in the last year alone. Most probably it is the amount ever brought from myanamr under G to G basis. The report did not claim that this amount procured within last year.Last year our total rice import was 2.2 million ton and bulk of it came from India,Vietnam,Cambodia. Myanmar supplied one hundred thousand ton which was entirely supplied to Rohingya refugee camp. Rohingya refugee prefer burmese rice, it is the reason that Bangladesh is buying rice even this year from Myanmar.Otherwise govt. is prohibiting rice import this year and about to re-impose 28 percent tax on Rice import.This 28 percent tax on rice import was in place before 2017 flood to discourage rice import.
Bangladesh may bring back 28 percent tax on rice imports: government sources
https://in.reuters.com/article/bang...rice-imports-government-sources-idINKCN1J21TJ

This year, we are experiencing a bumper summer rice output. Summer rice output exceeded 19.7 million ton and total rice production is 34.7 million ton this year. Absolutely no need to import any rice except for Rohingya refugee camp. Rohingyas are burmese people,they used to eat burmese variety of rice. so it is logical to feed them the rice they prefer.So this 1 or 2 lakh ton import from burma.

@Aung Zaya @Gibbs @Skull and Bones @pikkuboss @oOo

So caring for rohingyas that importing rice from the place they prefer!! BD rice is so bad that they cant survive on it considering they are refugees? They would prefer arab dates as well for iftari.

 

[sputnik]

In many other news BD ministers claim self-sufficiency in rice, other staples, fish, dairy, poultry, beef, mutton and all other food stuffs except onions. How come, here a MM newspaper claiming BD to import at least 2.2 million tons within the span of six months. So, which of the directly opposite claims is true?

Dear Bluesky and all other Bangladeshi pdf members, All your Furniture companies Partex, RFL etc. are buying Wood and many other raw material from Myanmar. Why get offend when Govt. acting rationally.
Regarding this Import Duty Tax, Isn't Under Invoicing is rampant in Bangladesh. Please tell me single company which is doing Import of any good is not doing Under-Invoicing.
@A.A. Khan @bluesky