The Indian government has introduced new regulations to control rice exports to Bangladesh. From now on, non-basmati rice exports will only be allowed upon registering export contracts with India’s Agricultural and Processed Food Products Export Development Authority (APEDA). The directive applies to all new letters of credit (LCs), excluding those already backed by tenders.
Bangladeshi rice importer Dinesh Poddar noted that the new policy may slow down import procedures and increase costs, which could lead to higher retail rice prices in Bangladesh.