Acknowledging the suffering of general people due to rice price hike, Commerce Adviser Sk. Bashir Uddin has said that the government cut a 60 percent duty on rice import to keep the local market stable. He said this while talking to reporters after a meeting with his Turkey counterpart Prof Dr Ömer Bolat at the Secretariat on Thursday. Asked about the preparedness ahead of the Ramadan to keep commodities at tolerable levels, he said, “We are prepared overall with the Ramadan and taking several initiatives on the rice market at this moment. We are relaxing the import while the duty on rice import was about 63 percent; we have reduced it to 3 percent.” The Ministry of Food has been importing several lakh tonnes of rice from India, Pakistan and Myanmar, said the adviser. Bashir Uddin assured that there would be no crisis of rice till April as a full season of Aman was going on now. There has been no inconsistency of any product so far. Read: Government aims to stabilize rice market, ensure trader support: Commerce Adviser Seeking cooperation from the reporters to take actions against syndicates who manipulate the rice market, he said that there was no crisis of the rice market now but the rice price hiked slightly due to the weather, flood and other issues. Warning of strict action against the manipulators, he hoped that the rice market would be stable soon. He said distribution of rice to 63 lakh families who hold TCB smart cards would begin this week and 50 lakh families would also get rice at lower price under the Food-friendly Programme. Replying to a query, adviser Bashir Uddin said they scrapped 37 lakh smart cards due to corruption as one more member from the same family managed cards through forgery. Read more: Government to import rice, LNG to meet domestic demand "We want to add another 37 lakh cards. If it’s possible to increase it from one crore by bringing transparency in procurement and marketing, we will do that too,” he said.

The government is committed to making business processes easier and providing full support to traders, Commerce Adviser Sheikh Bashir Uddin said on Tuesday. His remarks came during a meeting on rice stock and import situations at the Ministry of Commerce. “Any problems faced by traders will be addressed promptly,” the adviser assured. The meeting was attended by Food Adviser Ali Imam Majumder along with key stakeholders. Bashir Uddin highlighted the government's focus on tackling the price disparity between wholesale and retail rice markets, which has drawn public and industry concern. “We aim to identify the root cause of this disparity and implement solutions for a stable market environment,” he said. While prices of most products have decreased, rice prices have seen a marginal rise. The adviser expressed optimism that rice prices would stabilize soon. No change in duties until Ramadan ends: Finance Adviser Food Adviser Ali Imam Majumder provided an update on the country’s food stock, which currently exceeds 1.2 million tonnes. Additionally, 100,000 tonnes of rice are expected to arrive from Myanmar this month as part of the government’s diversified import strategy. The government is procuring rice from multiple neighboring countries under Government-to-Government (G2G) agreements to avoid over-reliance on a single source, Majumder said. He also discussed ongoing measures to support low-income families, including the distribution of rice through the Trading Corporation of Bangladesh (TCB) and the Open Market Sale (OMS) program. “Fifty thousand families are receiving 30 kg of rice each under the food-friendly program,” he noted. Deputy Governor of Bangladesh Bank Md Habibur Rahman announced that banks have been instructed to extend full cooperation in opening Letters of Credit (LCs) for food imports. The meeting was attended by high-ranking officials, including Food Ministry Secretary Md Masudul Hasan, Tariff Commission Chairman Dr. Moinul Khan, Commerce Ministry Secretary Md Abdur Rahim Khan, TCB Chairman Brigadier General Md Mostafa Iqbal, and rice importer Aditya Majumdar.

While the prices of winter vegetables have decreased in Khulna, that of essential items such as rice, lentils, edible oil, chicken, and beef have surged, creating challenges for low- and middle-income consumers. Prices of all varieties of winter vegetables have dropped by Tk 8-10 per kilogram. However, despite regular monitoring and raids by the Directorate of Consumer Rights Protection, edible oil, chicken, beef, rice, and eggs remain expensive due to price manipulation by unscrupulous traders. Rice prices have seen a sharp increase. As of Friday, coarse rice (Swarna) was selling at Tk 54 per kilogram, Atash Balam at Tk 65, fine Miniket at Tk 75, lower-quality Miniket at Tk 65, Basmati at Tk 75-76, and Kalijira at Tk 120. In contrast, one and a half months ago, coarse rice was Tk 45-46, Miniket was Tk 70, and Kalijira ranged from Tk 110-115, reflecting an increase of Tk 5-6 per kilogram. Chicken prices have also soared. Broiler chicken was selling at Tk 200 per kilogram, layer chicken at Tk 340, cock chicken at Tk 320, Sonali chicken at Tk 320, and local chicken at Tk 470. Within two weeks, these prices have climbed beyond the purchasing power of many consumers, particularly those with limited incomes. Beef prices remain steep, selling at Tk 700-750 per kilogram in both urban and rural markets. Despite fines imposed during raids by mobile courts, beef prices have not decreased, drawing criticism from consumers. Read: Prices of meat, chicken, green chilli and vegetables still high despite falling demand The price of edible oil has surged again. Five-liter bottles of soybean oil were sold at Tk 875, or Tk 175 per liter. Loose soybean oil was priced at Tk 195 per liter, while super oil ranged from Tk 178-179 per liter. A week ago, five-liter bottles of soybean oil were sold at Tk 860, loose soybean oil at Tk 190, and super oil at Tk 180 per liter. Lentil prices, however, have remained stable. Fine lentils were priced at Tk 140 per kilogram, while coarse lentils sold for Tk 110. Sugar prices have slightly dropped. White sugar was selling at Tk 125 per kilogram, and packaged brown sugar at Tk 140. Previously, they were priced at Tk 140 and Tk 150, respectively. Egg prices remain high. Broiler eggs were priced at Tk 46 per dozen for red eggs and Tk 44-48 for white eggs in urban and rural areas. In contrast, vegetable prices have dropped significantly. New potatoes were priced at Tk 60 per kilogram, old potatoes at Tk 40, local onions at Tk 70, Kalikata onions at Tk 40, Indian onions at Tk 50, local garlic at Tk 240, and Chinese garlic at Tk 220. Cauliflower was sold at Tk 30, cabbage at Tk 20, turnips at Tk 30, winter beans at Tk 20, green chilies at Tk 60-80, eggplants at Tk 40-50, tomatoes at Tk 60, pumpkins at Tk 30, papayas at Tk 30, red spinach and Malabar spinach at Tk 20 per bunch, and bananas at Tk 20 per dozen. Two weeks ago, prices were notably higher. New potatoes were Tk 100, old potatoes Tk 70, local onions Tk 100, Kalikata onions Tk 60, cauliflower and cabbage at Tk 40, turnips at Tk 40, winter beans at Tk 40, green chilies at Tk 70-75, eggplants at Tk 60, tomatoes at Tk 100, pumpkins at Tk 40, papayas at Tk 30, spinach at Tk 35–40, and bananas at Tk 30 per dozen. Read more: Prices of egg, chicken and fish up while vegetables stable at higher rate Ripan Howlader, director of Apan Poultry Farm in Rupsha Traffic Mor, confirmed that chicken prices have risen significantly. Consumers like Hafizur Rahman, a college teacher, expressed concern about the high prices of essentials despite the drop in vegetable prices. He urged more frequent raids by mobile courts to stabilize prices. Consumers continue to demand stricter enforcement to control prices and ease the burden on low- and middle-income households.

The government has approved the procurement of rice, sugar, lentil, and fertilizer to address domestic demands and stabilize markets. The decision was taken at a meeting of the Advisors Council Committee on Government Purchase (ACCGP), chaired by Finance Adviser Dr. Salehuddin Ahmed. TCB to procure soybean oil, sugar, lentil to sell through OMS Rice Procurement: Imports from Myanmar and India Under proposals from the Commerce Ministry, the Food Directorate will import: * 100,000 metric tons (MT) of white rice from Myanmar through a government-to-government (G-to-G) contract. The Myanmar Rice Federation (MRF) will supply the rice at a total cost of Tk 618 crore, with each MT priced at $515. * 50,000 MT of non-Basmati boiled rice through an international open tender. Indian supplier Mondol Stone Product Pvt will provide the rice at a total cost of Tk 280.62 crore, with each MT priced at $467.70. Sugar and Lentil Procurement by TCB The Trading Corporation of Bangladesh (TCB), under the Commerce Ministry, will procure: * 5,000 MT of sugar through a local open tender. City Sugar Industries will supply the sugar at a cost of Tk 59.21 crore, with each kilogram priced at Tk 118.43. * 10,000 MT of lentils through a local open tender. Payel Traders will supply the lentils at a total cost of Tk 96.69 crore, with each kilogram priced at Tk 96.69. Fertilizer Imports by BCIC The Bangladesh Chemical Industries Corporation (BCIC), under the Industries Ministry, will import 60,000 MT of urea fertilizer, divided between two contracts: * 30,000 MT of bulk granular urea fertilizer from Saudi Arabia’s SABIC Agri-nutrients Company at a cost of Tk 123.23 crore, with each MT priced at $342.33. * 30,000 MT of bagged prilled urea fertilizer from Qatar Energy Marketing at a cost of Tk 133.08 crore, with each MT priced at $369.67.Govt to procure 51,973 MT paddy from Khulna amid bumper harvest Additionally, the BCIC will import 30,000 MT of rock phosphate through an international open tender. UAE-based Zentrade FZE will supply the product at a cost of Tk 82.62 crore, with each MT priced at $229.50. Govt to procure 55,000 MT soybean oil for OMS

The government is considering reducing the import duty on rice in an effort to stabilise rice prices in the country. Sources at the finance, commerce, and food ministries indicate that this decision is being contemplated due to recent floods that severely impacted paddy cultivation. Major agricultural areas, including Chattogram, Feni, Noakhali, Laxmipur, and Cumilla, were flooded, and currently, Rangpur, Sherpur, Lalmonirhat, Netrokona, and Mymensingh are facing flood. These regions are vital rice producers for the country. Read: Price hikes: Seven businesses fined in market monitoring drive As a result, rice prices have risen significantly in the local market, causing difficulties for consumers. According to commerce ministry sources, the price of various types of rice has increased by 8-10 percent recently. “In this situation, the government aims to control prices and stabilize the market through rice imports. An initiative is underway to reduce the import duty on rice,”said a finance ministry official wishing not to be named. Currently, rice imports are subject to a 62.50 percent customs duty. The food ministry has requested the National Board of Revenue (NBR) to lower this duty to 5 percent. A letter was sent by Joint Secretary Lutfar Rahman to the NBR on September 29. The letter highlighted that the food ministry is working to ensure food security through improved management and the provision of safe and nutritious food. To support food security and incentivize farmers, a target of 500,000 tons of paddy and 14,700,000 tons of rice has been set for the current Boro season. By August 31, 296,970 tons of paddy and 1,255,497 tons of rice had been collected. Currently, the government’s storage holds 12,64,740 tons of rice and 4,63,928 tons of wheat, totaling 1,754,199 tons of food grains. However, after the floods, rice prices have risen sharply at the production, wholesale, and retail levels. In response, the Ministry of Food, Directorate of Food, National Directorate of Consumer Protection, and local administrations have increased market surveillance to control prices. Fair market monitoring and operations against illegal stockpiling are ongoing, but food grain prices have continued to rise. Read more: Interim Government committed to curbing essential commodity prices by breaking syndicates: Mahfuj Alam The food ministry also noted that recent floods in 14 districts have caused severe damage to Aoush, Aman seedlings, and Aman seedbeds. The demand for rice, coupled with reduced supply, could push prices even higher. Additionally, India’s wheat export ban, reduced wheat imports due to the Russia-Ukraine war, and rising global food prices have contributed to the surge in grain prices. In this context, stabilising the rice market and increasing the government’s safety stock is essential. Private-level rice imports may also be necessary. The government has already received approval to import 500,000 tons of rice. Although the global rice market is currently priced higher than the domestic market, reducing the existing rice import duty from 62.50 percent to 5 percent is seen as a necessary measure to maintain price stability. Currently, rice imports are subject to a 25 percent customs duty, 25 percent regulatory duty, 5 percent advance income tax, 5 percent advance tax, 1 percent insurance, 1 percent landing charge, and 0.5 percent DF VAT. Read more: 12 kg LPG cylinder price hiked by Tk 35 India recently reduced its rice export duty from 20 percent to 10 percent. If Bangladesh reduces its import duty to 5 percent, a combined duty of 15 percent will apply to rice imports from India. The food ministry’s letter emphasised that this reduction in duty will encourage importers to meet domestic demand. The ministry has requested the NBR to take the necessary steps to reduce the duty on non-basmati parboiled rice and non-scented atap rice for both public and private imports.  

The government has reduced VAT and duty on import of  rice, edible oil, sugar, and dates ahead of holy month of Ramadan. The National Board of Revenue (NBR) issued four gazette notifications reducing the customs duties on these essential items from a minimum of 5 percent to a maximum of 47 percent. According to the notifications, rice import duty and tax have been reduced by 47.25 percent. The duty has been reduced from 62.50 percent to 15.25 percent. Out of this, supplementary duty has been cut by 20 percent. Bangladesh seeks IFAD support to boost wheat and edible oil production This tax reduction will be applicablein the import of boiled and non-boiled rice. However, prior to importing rice at subsidized rates, written approval must be taken from an official of minimum joint secretary rank of the Ministry of Food for each shipment. The tax reduction facility will be valid till May 15, 2024. On the other hand, the Value Added Tax on refined and crude (non-refined) soybean and palm oil has been reduced to 10 percent from 15 percent, which will be in force till April 15. Govt to import 12,500 MT of sugar from US For sugar import, the fixed duty has been reduced from Tk 1,500 to Tk 1,000 per metric ton. This facility will be valid till March 31 as per NBR notification. Besides, the import duty on date has been reduced from 58 percent to 43 percent.. It will remain in force till March 30. One crore TCB card holder families to get 5 kg rice at Tk 30 from July In the cabinet meeting held at the Prime Minister's office on January 29, Prime Minister Sheikh Hasina ordered reduction of duty on edible oil, sugar, dates, and rice on the occasion of Ramadan. On January 22, the Ministry of Commerce wrote to National Board of Revenue (NBR) to exempt tax on rice, edible oil, sugar, and dates.

The government will provide 5kgs of rice at Tk 30 to the Trading Corporation Bangladesh (TCB) card holder families from July 1, said Food Minister Sadhan Chandra Majumder on Sunday. “Currently one crore families are getting TCB products and from July 1 the cardholders will get 5 kgs of rice at Tk 30 along with other items. The open market sales (OMS) dealers will provide the rice,” he said while talking to reporters after a meeting over the progress of Boro procurement at the Secretariat. Replying to a question about the process of 5kgs of rice, the minister said when the cardholders will get their TCB items they will also get the rice through OMS dealers. That means rice has been included as a TCB item. Govt plans to provide 10 kg rice to 1 crore families each during Ramadan: Food Minister Sadhan Chandra said, “When the price of rice was slightly higher, we conducted the rice sale through 2,500 OMS dealers across the country and we also distributed additional 2 lakh metric tonnes of rice through OMS after taking approval from the Finance Ministry.” Besides, we also provid rice to 50 lakh families regularly through conducting food-friendly programme and they are getting 30 kgs of rice each month. Talking about the boro procurement, the minister said the government has procured 6,56,587 metric tonnes of rice and 1,15,272 metric tonnes of paddy till June 24 during the ongoing boro procurement season. Without monitoring, prices of daily essentials soar in Khulna kitchen markets “We had set a target to procure 12.5 lakh metric tonnes of rice and 4 lakh metric tonnes of paddy. Our targets will be fulfilled this June,” he said.Govt may procure upto 8 lakh MT of paddy to ensure fair prices: Food Minister  

Farmers in the coastal region of Barguna are rejoicing over their successful yield of salt-tolerant Bri varieties rice.  At Amratala village, located in Kalmegha Union of Patharghata Upazila, where growing crops is typically challenging, local farmers have reported good yields of Bri 67, 74, and 97 rice varieties.  Talking to UNB, local farmers, who hope to harvest 23-24 maunds of paddy per bigha, have expressed their satisfaction with the results. Badal Howladar, a local farmer, expressed his satisfaction with the results, saying that the Bri rice varieties have done very well in the salinity-hit area. Also Read: Bangladeshi scientists unveil full genome sequence of salinity, flood-tolerant rice The farmers said they cultivated the rice varieties for the first time during the  Boro season in 2022-23as per the recommendation of the Bangladesh Rice Research Institute (BRRI).  The farmers have been growing the rice under the supervision of the Irrigation and Water Management Department of the BRRI. To showcase the successful cultivation of salinity-tolerant Bri Dhan 67, Bri Dhan 74, and Bri Dhan 97 rice varieties, the BRRI organized a farmers' field day and harvesting exhibition on the fallow land in Amratala village recvently.  Director General of the BRRI Dr. Md. Shahjahan Kabir and its senior scientific officer Dr Devjit Roy , among others, visited the filed. Also Read: How salinity taking toll on coastal people in Satkhira  Dr. Md. Shahjahan Kabir said the institute has developed many high-yielding and salinity-tolerant rice varieties, including Bri 67 and Bri 97.  These varieties can withstand high salinity levels and have a lifespan of 140-145 days, he said.  Kabir added that the successful cultivation of these rice varieties in coastal salinity-hit areas like Barguna district through improved water management could play a vital role in the country's food security.     

Seventy percent of the Boro paddy in haor areas have been harvested, the Ministry of Agriculture (Bangladesh) has said. In Sylhet, 55 percent paddy was harvested, in Moulvibazar 70 percent was harvested, in Habiganj 67 percent, in Sunamganj 73 percent, in Kishoreganj 58 percent, in Netrokona 77 percent, and in Brahmanbaria 67 percent of Boro paddy was harvested, according to a press release of the ministry today. Boro paddies were sown on 452,000 hectare of land in haor areas of seven districts this year.And a total of 953,000 hectares of Boro paddy has been cultivated in the highland outside of the haors. The production target is 40 lakh tonnes of rice, said the release. Read More: Record Boro production to be achieved this year: Agriculture Minister Recently, Bangladesh's Agriculture Minster Abdur Razzaque launched the Boro paddy harvest in haor areas of Sunamganj ahead of Eid-ul-Fitr. At the time, he said if there was no natural disaster and rice can be brought home on time, there will be record production in Boro this year. He said only in Sunamganj, around 1,000 combined paddy harvesters are working, adding that there will be no problem in harvesting paddy this time. According to the Department of Agricultural Extension, Boro has been sown on 50 lakh hectares of land across the country this year, while the production target is 21.5 million metric tonnes of rice. Read More: Govt to procure 16.50 lakh tonnes Boro paddy, rice In the last fiscal year 2021-22, Boro rice was sown on 48,14,000 hectares of land, and about 20.2 million tonnes of rice were produced in Bangladesh, the release said.

The government has set a target to procure 4 lakh tonnes of paddy, 12.50 lakh tonnes of boiled rice and one lakh tonne wheat in the upcoming Boro season. The procurement of Boro paddy and rice will start from May 7 and continue till August 31, 2023. The procurement price of Boro paddy has been fixed at Tk 30 per kg, boiled rice at Tk 44 and wheat at Tk 35 per kg. In 2022, the price of paddy was Tk 27 per kg, boiled rice Tk 40 and wheat Tk 28. The price was fixed at a meeting of the Food Planning and Monitoring Committee (FPMC) at the cabinet meeting room on Thursday. Food Minister Sadhan Chandra Majumder presided over the meeting, according to a press release of the food ministry. Agriculture Minister Dr Abdur Razzaque, Local Government, Rural Development and Cooperatives Minister Md Tajul Islam, Health and Family Welfare Minister Zahid Maleque, Commerce Minister Tipu Munshi and Fisheries and Livestock Minister SM Rezaul Karim attended the meeting. Secretaries to different ministries, including the cabinet secretary, were present in the meeting.