Indian rice prices low due to buyer shortage at Hili Land Port
Dinajpur Correspondent
The price of rice imported from India has decreased at Hili land port in Dinajpur. The wholesale price has decreased by 4 to 5 taka per kg in the space of a week.
Meanwhile, wholesalers say that the price of Indian rice is much higher than the new rice that has started to emerge in the country. It would be better if the price were a little lower.
On the other hand, importers say that they are having to sell rice at a lower price due to higher supply than demand and a shortage of buyers. This is causing them to suffer losses. They claim that since the country has started harvesting rice, if they stop importing it out of concern for the farmers, just as the farmers will get the price of rice, we will also get relief from the losses.
It is learned that the government allowed rice import from August 12. After that, the import permit period was extended twice, but the latest extension was until November 30. But after the extension, there has been a buyer crisis at Hili Port in Dinajpur. The port used to be bustling with wholesalers in the morning, but now the entire port is empty. A handful of wholesalers are coming to the port to see rice. Some are taking it, while others are going back without. Due to which the import of rice at this port has decreased a lot.
Rice importer Dinesh Poddar said, 100 to 120 trucks of rice were imported from India through this port a month ago. The current import is 20 to 30 trucks per day on average. However, the current rice market has collapsed. Due to more supply than demand, the price has come down a lot. The price per kg has come down by 4 to 5 taka in a week. The golden variety of rice, which was sold at 65 to 66 taka a week ago, is now being sold at 60 to 61 taka per kg. In addition, importers have reduced the price due to the shortage of buyers.
Importers said that they have reduced the price of Indian rice due to the shortage of buyers, but still there are no buyers. They are having to count their losses. They claim that since the country has started harvesting rice, if they stop importing considering the farmers, then just as the farmers will get the price of rice, we will get rid of the losses.
Wholesalers say that the current price of rice has decreased by a few taka, which is not a discount because the price of new rice that has started to appear in the domestic market is low, making it difficult for them to capture the market with Indian rice at this price. Therefore, they complain that the price of Indian rice needs to be reduced further.
In the months of September and October, 143,952 metric tons of rice was imported from India through Hili land port in 3,316 Indian trucks.
Hili Customs Station Revenue Officer M.R. Zaman Badhan said, "Rice import from India through Hili land port is normal. However, rice import has decreased a lot compared to before. Rice is an essential commodity, so it is cleared quickly."
