India Agrees to Impose Import Quotas on Seven Important Food Commodities Including Rice and Wheat

tendata blogTrade Trends News

ten data blog23-08-2023

india import,india import quotas,india import food



India has agreed to fulfill Bangladesh's request for import of seven important food commodities, including rice and wheat, subject to Bangladesh's assurance to import specified quantities within the stipulated annual quota.


Also Read: Quest Global Rice Importers


Meanwhile, India has set conditions to ensure import of specified quantities within the stipulated time.


The development took place at a virtual meeting of representatives of the two neighboring countries on Sunday (August 20) titled "Determination of annual quotas for Bangladesh's imports of various essential commodities from India".


Also Read: Global Rice Export Trends: Sowing Seeds of Success


India's desire to set conditions was based on the fear of possible losses to Indian farmers if Bangladesh does not import the specified quantities as per the quota.


In addition, India is keen to impose time limits on the import of these commodities.


Also Read: Wheat Import Scenario: Nourishing Global Trade


For onions, garlic and ginger in particular, there is a great deal of emphasis on setting specific time frames.


>>>Get A Free Demo<<<


The emphasis on setting time limits was due to the challenges and costs of storing these perishable goods.


Also Read: Vietnam Exporters Renegotiate Higher Rice Prices after India Bans Traders


On the other hand, the Bangladesh delegation discussed pricing and tariffs for these products. According to officials of the Ministry of Commerce, they presented a proposal to set competitive prices for the goods in line with global market prices.


In addition, India would not impose tariffs on quota-based imports if they are imposed due to special circumstances. However, the Indian authorities responded to Bangladesh's proposal by stating that compliance with laws and regulations is essential and there is no room to go beyond these boundaries.


Also Read: Thailand Benefits From India's Export Ban As Rice Exports Rise


Last month, Bangladesh, through the Ministry of External Affairs, submitted a report to the Indian authorities requesting to import 1.5 million tons of rice and 2.5 million tons of wheat annually from India to protect its food security and stabilize prices amid fears of potential supply disruptions caused by natural disasters and global crises.


The requested quota also included 1 million tons of sugar, 600,000 tons of onions, 50,000 tons of garlic and 100,000 tons of ginger.


Subsequently, after discussions between the Ministry of Commerce and the Ministry of Agriculture and Food, adjustments were made to increase the quantities of some products. Subsequently, the Ministry of Commerce readjusted the quantities of goods and informed the Indian authorities of the adjustments through the Ministry of External Affairs.


Leave Message for Demo Request or Questions

We always appreciate your visit at tendata.com. We'd love to hear your suggestions, feedback & queries. Please contact us to schedule a demo or learn more about our services. We will respond to your query within 1 working day.
  • Full company name please

  • 输入您的手机号

  • 输入您的邮箱

  • Fill in the code please

More Popular Blogs

These related articles may also be of interest to you

Geting Price

Global Trade Data Leader
Get Pricing
Demo
Free Demo
'Target Customer
'Acquisition & Intelligent
'Decision-Making
'Global Trade Marketing Intelligent
'Decision-Making SaaS Platform

Welcome Tendata · iTrader

Please fill in the infos to get free demo

  • *

    Enter your name please

  • *

    Full company name please

  • *

    输入您的邮箱

  • *

    输入您的手机号

  • *

    输入验证码

  • Read and agree to Service Agreement and Privacy Policy

中文