The government has decided to export 1.0 to 1.5 million tonnes of rice aiming to save famers from losses, said Agriculture Minister Dr Abdur Razzaque.
Dr Razzaque disclosed the decision at a press conference on the government steps over the market price of paddy at his ministry’s auditorium on Thursday, reports UNB.
The minister said the government is also considering raising incentives to 25 or 30 per cent from 20 per cent to encourage rice export.
The government has already increased duty on rice import from 28 per cent to 55 per cent to discourage import, he added.
Dr Razzaque attributed the recent fall in rice prices to bumper production amid favourable weather, government incentives, excessive rice import and its huge stock.
The minister emphasised mechanisation and modernisation of agriculture sector to make it profitable.