United News of Bangladesh

Even after the arrival of 18,800 metric tonnes (MT) of rice from India via Benapole land port in the last four months, market prices remain high, causing hardship for consumers, particularly those from low-income groups.  Despite government efforts to stabilise the situation, the price surge continues to strain household budgets. The substantial quantity of rice was imported between 17 November and 13 March under the 2024-25 fiscal year through eight authorised importers, enjoying a duty-free facility.  The most recent consignment of 350 MT of rice entered the country through the port on 13 March. In an effort to stabilise the rice market and ensure food security, the government has permitted major rice importers to bring in rice from abroad. On 6 March, a notice signed by Mohammad Ariful Islam, Deputy Secretary to the Ministry of Food, extended the deadline for opening letters of credit (LCs) for the import of non-Basmati boiled rice and Atap rice until 15 April. Multiple Deadline Extensions According to Benapole customs sources, the government authorised 92 institutions across the country to import 273,000 MT of boiled rice and 119,000 MT of Atap rice.  But many importers have been unable to bring in their allocated quotas due to various challenges. The government has extended the import deadline multiple times due to the slow progress in import activities. Initially set for 15 January, the deadline has since been extended several times, with the latest extension allowing imports to continue until 15 April to ensure adequate supplies in the market. Govt approves import of 50,000 MT of rice from India Rising Prices Despite Increased Supply Despite continuous rice imports, market prices have remained high, with a noticeable surge in recent weeks.  Middle-income and low-income consumers are bearing the brunt of the price hike, despite the government’s efforts to stabilise the market. Rice trader Din Mohammad said that prices have increased by Tk 4-5 per kilogram since the start of Ramadan.  For instance, the 28 varieties of rice, previously sold at Tk 64 per kg, are now priced between Tk 68-69 per kg. Miniket rice, previously Tk 72 per kg, has risen to Tk 76, while coarse rice has increased from Tk 52 to Tk 56 per kg. Basmati rice, which was Tk 84 per kg, is now selling for Tk 88-90. "Indian rice is available for Tk 58 per kg, but its demand in the market remains low," he added. Din Mohammad also expressed doubts over the possibility of a price reduction during Ramadan, saying that despite continuous imports from India, market prices remain unaffected. Rice prices soar in Kushtia amid halt in milling Efforts for Efficient Distribution Shamim Hossain, Director of Traffic at the port, assured that trucks carrying imported rice from India receive swift clearance to facilitate rapid distribution to local markets. Mohammad Kamruzzaman, Commissioner of Benapole Customs House, highlighted the strategic importance of Benapole Land Port in expanding import-export trade. "Due to its proximity to Kolkata, the port enables businesses to save both time and costs in trade operations. With an efficient transportation network, goods cleared at the port can quickly reach various district markets across the country," he said. Despite these efforts, the struggle to stabilise the rice market continues, with consumers hoping for relief in the coming weeks.  

Selling rice and flour through open market sale (OMS) program will continue until the rice market is stable, Food Minister Sadhan Chandra Majumder said today (September 6, 2022). “The government operates the program for five months – from March to April and September to November – every year and the OMS service will continue as long as the market is unstable,” he said. The government started OMS from September 1 and under the service, people can purchase one kg of rice at Tk 30 and one kg of flour at Tk 18. Local administration, officials of Food Department and intelligence team are monitoring the service, said the minister. Talking about Boro procurement, the food minister said the government has procured 11.21 lakh tonnes of boiled rice while 55.20 thousand tonnes of non-boiled rice have been collected. Also read: Offer easy loans to create entrepreneurs: Razzaque to banks “The government has a target to procure 6 lakh tonnes of paddy but we got only 2.68 lakh tonnes,” he said. During the current Aman season, the government will import rice after ensuring fair prices for the farmers. The government is going to procure 10.30 lakh tonnes of rice and wheat from several countries, he said. As per agreement, the government will purchase 2.30 lakh tonnes of rice from Vietnam, two lakh tonnes from Myanmar, one lakh ton from India, and five lakh tonnes of wheat from Russia, he added. He also hinted at more procurement of rice through the government to tackle the drought in advance. An individual can buy five kgs of rice and flour. Besides, the TCB card holders can also avail the opportunity. Meanwhile, the government also started the ‘food friendly programme’ from the same day under which 50 lakh people can purchase rice at Tk 15.    

To keep the rice market stable, the government has taken a decision to allow private firms to import rice, Food Minister Sadhan Chandra Majumder said on Monday. “A summary of the meeting with resolution will be sent to the Prime Minister for final decision,” he said while talking to reporters after a meeting of Food Planning and Containment Committee at the Secretariat. During the meeting, discussion was held on duty-free rice import after ensuring that farmers and others concerned are not affected by the decision, he said. Also read: Rice price coming down after anti-hoarding drive: Food Minister However, the final decision will come from Prime Minister Sheikh Hasina. Talking about the drives against illegal hoarding of rice, Sadhan said already people have started getting the benefits of the drives and the drives against illegal ricer hoarders will continue. Local Government and Rural Development (LGRD) Minister Md Tajul Islam, Commerce Minister Tipu Munshi, Fisheries and Livestock Minister SM Rezaul Karim and  State Minister for Disaster Management and Relief Dr Md Enamur Rahman were present at the virtual meeting. Also read: Rice cannot be packaged for sale after buying those from open market: Minister

Food Minister Sadhan Chandra Majumder on Sunday warned that stern action will be taken against those who will try to destabilise the rice market in the country. The condition in the rice market must be monitored as well as make the Boro paddy procurement drive a success, he said in a virtual view-exchange meeting on ‘Boro 2022 season’s internal procurement and market monitoring’ at the secretariat. “If any attempt is made to destablise the rice market action will be taken against those involved in it irrespective of their party affiliation,” he warned. There is an unhealthy competition among traders to buy and hoard paddy thinking that it to be profitable but it will not bring good results, said the minister. Also read: Budget 2022-23: Govt to increase fertilizer subsidy to ensure food security Thinking that Russia-Ukraine war may trigger food crisis in Bangladesh, many are hoarding paddy illegally, said Nirod Baran Saha Chandan, president of the Naogaon Paddy and Rice Wholesale Traders’ Association, at the meeting. Noting that new rice is not coming to the market yet, Sadhan Chandra said the rice that is available in the market now is last year’s old rice. “So where is the new rice going?” he asked the mill owners. He also directed the mill owners to report to the officials concerned of the food department on how much paddy is bought by whom and who is marketing how much rice after crushing. Various corporate houses have started rice business, he said adding they are buying and packaging rice and selling those  in the market at higher prices. The minister also directed the officials of the food department to hold a meeting as soon as possible with the corporate houses involved in rice business. Meanwhile, many countries of the world including India have sent letters expressing interest to export wheat to Bangladesh, he said. Also read: No food shortage in country: Agriculture Minister The food minister also said nor’westers have damaged paddy in the northern parts of the country and it is important to ascertain the exact amount of losses in each district.

Food Minister Sadhan Chandra Majumder on Tuesday warned against hoarding of rice saying no one will be allowed to destabilise the rice market. He was virtually exchanging views with local government officials, mill owners and traders on ways to prevent rice hoarding and market monitoring at Rangpur deputy commissioner office. Read: Edible oil price increased in line with manufacturers' proposal Sadhan said the government is ready to import rice if it’s needed to keep the market stable. So those who are thinking of hoarding the food grains to manipulate market should refrain from it, he added. He said there is no logic behind hike in the rice price as this year’s harvest has been satisfactory unlike last year when cyclone Amphan damaged crops. “We won’t tolerate any manipulation with the price,” he said pointing to mill owners and traders. The minister also asked the authorities concerned to investigate whether any licensed rice trader is involved in storing rice illegally. Strict action will be taken against wrong-doers, he said. Read:Govt preparing roadmap to increase rice production to control price Abdul Hannan, a spokesperson for mill owners, said the price of fine rice can’t be reduced as its demand is high. He also urged the government to take steps in importing rice to stabilise the market.

The Cabinet Committee on Public Purchase on Wednesday approved the import of 250,000 metric tonnes of rice from India and international suppliers.

Agriculture Minister Dr Abdur Razzaque on Sunday said that aiming to eliminate the shortage and control prices in the rice markets, the government is going to purchase 5-6 lakh metric tonnes of rice.

The government has cut the rice import duty to 25 percent from the existing 62.5 percent in an effort to keep the rice market stable, Food Minister Sadhan Chandra Majumder said Sunday.

 Food Minister Sadhan Chandra Majumder on Thursday said that the market price of rice is affordable and stable amid the coronavirus pandemic as the government’s paddy and rice collection aim has been fulfilled.

The government has planned to import rice, if needed, by reducing import duty to keep its market stable and prevent price manipulation.