FE Report

Commerce Minister M Faruk Khan Monday declined rice exporters' request to export aromatic rice on the ground of price hike in the local market, said sources.

They sought permission for export of 10,000 tonnes of aromatic rice with a view to getting market share abroad, said an official of the ministry.

"They said the country produces more aromatic rice than it consumes and export will give more price to farmers,' he said.

The minister in reply said earlier the government agreed in principle for exporting rice but just after taking the decision the price

went up in the market, he added.

The businessmen tried to shift the blame on the media but the minister responded, "Media is a part of life and there is no use blaming it," he said.

"The minister said export permission will bring benefit to maximum 100 exporters but will put 150 million people in the country in trouble," the official said.

The government banned rice export since the regime of caretaker government as it earned only a negligible amount from rice export, said an official of the Export Promotion Bureau.

"The government wants to keep the price of aromatic rice stable as only about two months are left for Eid-ul-Azha festival," he said.

The government earlier took the decision for export of 10,000 tonnes of aromatic rice but now follows a 'go slow policy' because of the recent price spiral in the local market, he added.