World Commodities - Bangladesh nearly doubles rice import duty to support farmers.

• Author: Kazmi, S. Kamal Hayder
• Position: Brief article

Byline: S. Kamal Hayder Kazmi

Bangladesh has raised import duty on rice to 55 percent from 28 percent to support its farmers, officials said on Thursday, amid widespread protests over a drastic fall in domestic prices. The new tax rates, that came into effect on Wednesday, would further curb rice imports, especially from neighbouring India, which emerged as the biggest supplier to the South Asian country in 2017, after floods destroyed its crop.

The move would help protect farmers' interests as growers are being compelled to sell their rice at lower rates than...