The revised quotas took effect immediately and will remain valid until December 31 this year

Rice prices have climbed in Dhaka and Chattogram over the past week, particularly for fine varieties, as traders blame higher paddy prices, flood damage to Aus crops and Aman seedbeds, and uncertainty over rice imports from India.

Despite a modest fall in prices, rice inflation remained elevated in November, continuing to exert significant pressure on overall food inflation.

Yesterday, the price of coarse grain, the benchmark variety, was 6.25 percent higher year-on-year, reaching Tk 50 to Tk 52 per kilogramme at retail markets in Dhaka.

The government yesterday slashed the import duty on rice and is also working to import about 12 lakh tonnes of food grain including rice as it looks to rein in the price of the staple amid a cost of living crisis.