by 
Traders from West Bengal, Uttar Pradesh, and South India revealed that they were aware in advance of Bangladesh’s decision to temporarily lift the 20% import duty on rice. As a result, they had already prepared stocks in warehouses near the Petrapole border.
On Wednesday, the Bangladesh government officially announced the withdrawal of the 20% import duty on rice. Following this, Indian traders have rushed to export rice to Bangladesh.
According to a report by the Indian media outlet *Economic Times*, after Bangladesh’s duty withdrawal announcement, retail prices of rice in India have surged. The price of Swarna rice has increased from 34 rupees per kg to 39 rupees. Similarly, Miniket rice has risen from 49 rupees to 55 rupees, Ratna rice from 36-37 rupees to 41-42 rupees, and Sona Masuri from 52 rupees to 56 rupees per kg.
Suraj Agarwal, CEO of Riceville, an Indian rice export and marketing firm, stated that trucks carrying rice from India began entering Bangladesh on Wednesday night, shortly after the National Board of Revenue in Bangladesh announced the duty withdrawal.
He added, “Considering both cost and transportation, exporting rice through the Petrapole-Benapole border is convenient. This is why factory owners from Uttar Pradesh and South India are also exporting rice to Bangladesh via this land route.”
Swarna rice is in demand across India, while Miniket rice is particularly popular in eastern and northeastern India. Ratna rice is widely consumed in northern India, and Sona Masuri is a top choice among residents of South India.
To stabilize its domestic market and provide relief to consumers from inflation, the Bangladesh government announced the duty withdrawal. In the 2024-2025 fiscal year, rice prices in Bangladesh have increased by 16%. To meet domestic demand, the country had to import 1.3 million tons of rice during this period.
C.K. Rao, a rice mill owner from Andhra Pradesh, said, “My trucks headed for Bangladesh on Thursday morning.”
Keshav Kumar Haldar, Managing Director of rice export company Haldar Venture Limited, noted that there is an oversupply of rice in the global market, and both government and private stocks in India are in good condition. This has led to a decline in global rice prices. Bangladesh’s import order has created demand in the Indian market, helping to revive it and partially offset the fall in global prices.
