Bangladesh: Imported rice to arrive next month, prices to decline: food adviser

Stating that rice imports from Myanmar, Pakistan, and India are underway, Food Adviser Ali Imam Majumder said once the imported rice enters the domestic market this month, prices are expected to decline.

Speaking to journalists at his office in the secretariat, he also said at least 175,000 tons of rice will be added to the market this month.

Replying to a query about the high rice prices during the harvest season, the adviser said the flash floods in several districts in the southeastern part of the country have reduced Aman paddy production, causing rice prices to be slightly higher than the government’s expectations.

“To address this shortfall, the government has arranged for rice imports and has also encouraged private traders by withdrawing import duties,” he said.

Ali Imam added, “Discussions are underway to import 50,000 tons of rice from Pakistan. The process of importing 100,000 tons of rice from Myanmar on a government-to-government (G2G) basis has been finalised. Additionally, we will import another 50,000 tons of rice from India.”

The food adviser further stated, “We have waived rice import duties and strengthened the Open Market Sale (OMS) program. Under the Trading Corporation of Bangladesh (TCB), 50,000 tons of rice are being distributed monthly. From March, the Food-Friendly Program will commence, providing 50 million families with 30 kg of rice per month at a price of 15 taka per kg. Beneficiaries of this program will not purchase rice from the open market, which will help stabilize market prices.”

In response to a query, the adviser said that all anti-hoarding laws are being strictly enforced, and instructions have been issued to district food controllers, deputy commissioners (DCs), and Upazila Nirbahi Officers (UNOs). Officials from the Directorate General of Food are also taking necessary steps in this regard.

“After assuming office on August 5, the government inherited a disrupted administrative system. While bringing nearly all sectors of the state back into operation, the government faced significant challenges. Despite this, we believe we have achieved a satisfactory position in less time than expected,” Ali Imam concluded.

Tags: Pakistan, India, imports, Market, Myanmar, prices, rice