The government has halved the export quota for aromatic rice previously allocated to 278 companies and imposed 10 conditions to strengthen oversight, ensure accountability and bring export earnings back into the country. The commerce ministry’s Export-2 Wing issued an order in this regard on Tuesday.
In two phases, the ministry had earlier allowed the companies to export a combined 45,270 tonnes of aromatic rice. However, only 129 of the approved exporters had shipped a total of 2,419 tonnes as of 30 August. The company-wise list attached to the new order shows that the allocation of every exporter has been reduced by 50 per cent.
For instance, a quota of 500 tonnes has been cut to 250 tonnes, while allocations of 400 tonnes, 300 tonnes, 200 tonnes and 100 tonnes have been reduced to 200 tonnes, 150 tonnes, 100 tonnes and 50 tonnes, respectively.
The decision reflects the government’s policy of prioritising adequate domestic supply and price stability in the case of food products, although earning foreign currency through exports remains important. Alongside reducing the quota, the ministry has tightened conditions concerning export prices, shipment volumes, documentation and the repatriation of export proceeds.
Under the revised rules, exporters must comply with all provisions of the Export Policy 2024–27. The revised approvals will remain valid until 31 December 2026. Customs authorities will examine export consignments before shipment. After each consignment is shipped, exporters must submit all relevant documents to the commerce ministry’s Export-2 Wing.
When applying for fresh export permission in the future, companies will have to provide complete information and supporting documents showing how much rice they exported against their previous allocations. No exporter will be allowed to ship more than its revised quota.
The government has also set the minimum free-on-board, or FOB, export price for aromatic rice at $1.60 per kg. As a result, no company will be permitted to export the rice below this price.
The export permission will be non-transferable. An approved company will neither be allowed to transfer its allocation to another firm nor subcontract the export. The order also allows the government to cancel any export permission at any time in the public interest.
Moreover, exporters will have to submit proceeds realisation certificates, or PRCs, as proof that their export earnings have been repatriated to Bangladesh.
Under the new arrangement, companies must conduct their exports within the revised limits. Their previous export performance, shipment documents and records of repatriated earnings will also be considered when they seek future approvals.
