Despite a record-breaking rice production, the authorities are planning to import rice to regulate the market.
Country’s rice market is becoming unstable. However, to make the country’s rice market stable, the authorities concerned have permitted import of 83000 tonnes of rice.
The Food Ministry has given permission to 30 private companies to import the mentioned amount of rice both boiled and parboiled to control the rice price.
The production statistics of the country according to the agriculture ministry showed that around 4.176 crore tonnes of rice were produced in Bangladesh last fiscal year. Out of this, Boro was 2.10 crore tonnes. Of this, coarse rice was about 60 lakh tonnes. And the amount of fine and medium rice was 1.5 crore tonnes.
According to market data, the price of rice surged by Tk 100 to Tk 200 per sack (50 kilogram) on Tuesday, within just a week. The cost of coarse rice rose by Tk 4 per kg, while the price of fine quality rice escalated by up to Tk 8.
Wholesale traders said that even though there is no crisis, certain unscrupulous traders have strategically hiked the price of rice to amass billions of taka through syndication.
A notice signed by the ministry’s additional secretary Md Habibur Rahman revealed this on Thursday.
According to the notice, the government has allowed the private entities to import 49000 tonnes of boiled rice and 34000 tonnes of parboiled rice.
However, to bring quick remedy in the unstable rice market, the food ministry has set conditions for the marketing of imported rice by April 25.
The notification has also said that the institutions can issue IP (import permit) in addition to the allocation. The ministry has also banned repackaging of imported rice in the name of the owner. This rice has to be sold in sacks.
Moreover, it is mentioned in the notice that information about the
quantity of imported rice, storage and marketing should be given to the district food controller.
Despite satisfactory production, when the country is importing rice to stabilize the market, according to the Food and Agriculture Organization of the United Nations, the country is on the verge of attaining the highest surge in rice production worldwide in a span of one year.
The projected increase for 2023-24 fiscal year is estimated to reach 1.8 percent, surpassing the previous fiscal year’s production.
Secretary general of Consumer Association of Bangladesh (CAB) Humayun Kabir said, “The demand for rice is already low during fasting. There is no reason to increase. All these are manipulations of traders. Those who are causing trouble to the consumers by hoarding should be brought under the law. And be punished. We want exemplary punishment for those who are involved in this.”