Photo: Bonik Barta The stock of the main food grain, rice, has
increased by more than 1.5 times over the past four months. According to the
Food Ministry's records, the current stock of rice in the country is approximately
1.3 million tons. With the addition of paddy and wheat, the total stock of food
grains has surpassed 1.8 million tons.
Market analysts consider the current stock of food
grains in the country to be "satisfactory." They indicate that due to
good rice production, the government stock is higher than the minimum required.
Consequently, the newly appointed interim government will not face difficulties
in managing the market. Additionally, with transportation returning to normal,
the supply chain for goods has also become functional. As a result, there are
currently no concerns about supply shortages relative to demand. Therefore,
there is no need for rice imports at this time. However, efforts should be made
to establish alternative sources for importing spices and fertilizers, and to
overcome the dollar shortage.
According to the Food Ministry’s records, as of
August 7, the total stock of food grains in the country was 1.81 million tons.
This includes 1.297 million tons of rice, 416,693 tons of wheat, and 147,218
tons of paddy. The paddy is included in the total stock as rice. In April, the
total rice stock in government warehouses was 877,000 tons. Meanwhile, during
the last Rabi season, wheat production in the country reached 1.198 million
tons, close to the production target of 1.228 tons.
Agricultural economist Dr Jahangir Alam told Bonik
Barta, “A minimum stock of 1.2 million tons of rice is required. By this
measure, our current stock is adequate. The increase in stock is due to higher
production during the last Boro season. Rice collection will continue until
August 30, so internal stocks may rise further. This means there will be no
need for rice imports until the next Aman season.
Additionally, strengthening market monitoring could
reduce rice prices and other agricultural products, as the previous business
syndicates have become somewhat inactive. However, despite the increase in
production and stock, prices have not yet reached satisfactory levels due to
supply issues. Transportation of goods is still not entirely regular, but
prices should stabilize within a week or two.”
During the Aman and Boro seasons, the government
typically collects paddy and rice through the Food Ministry. The records show
that rice production during the last Aman season was a staggering 17.4 million
tons, surpassing all previous years. The last Boro season also witnessed a
record rice production, exceeding the target of 222,000 tons. This exceptional
level of rice production eliminated the need for rice imports in the last
fiscal year, painting a promising picture for the future.
According to sources from the Food Ministry, no rice
was imported by the government in the last fiscal year. However, in the fiscal
year 2022-23, 1,056,000 tons of rice were imported. In the fiscal year 2021-22,
a total of 5 million tons of food grains were imported, including 988,000 tons
of rice. In the fiscal year 2020-21, a total of 1,359,000 tons of rice were
imported into the country.
Recently, due to protests and curfews, the
transportation of goods was almost halted. As a result, the supply decreased,
and the price of rice increased somewhat. The prices of coarse and fine rice
have risen by 2-1 Taka per kilogram. However, the higher prices have not yet
decreased. Traders are blaming the supply shortage and the millers for the
price hike.
In Karwan Bazar yesterday, coarse rice (BR-28) was
sold at 53 Taka per kilogram, up from 52 Taka per kilogram the day before. Fine
rice was sold at BDT 66-67 per kilogram, up from BDT 63-64 the day before. Regarding
the price increase, Muhammad Forkan, a seller at Rana Rice Agency, said,
"The supply is somewhat reduced. Additionally, the millers have raised
their prices. Hence, the price has increased by BDT 2-1 per kilogram. We must
also buy at a higher price per sack, by BDT 50-100."
Some rice traders believe the situation occurs due
to a lack of market control.
Meanwhile, India has indefinitely closed its visa
center in Dhaka. Bus and rail connections with the country are also now
suspended. With land ports remaining non-operational, the import of goods has
come to a standstill. However, analysts do not see any immediate need for food
imports due to the current stock.
When asked about the overall situation, Food
Ministry Secretary Md Ismail Hossain told Bonik Barta, “We have sufficient food
reserves. There was a temporary increase in prices due to supply shortages.
However, the supply channels are now fully restored, so rice prices and other
food items will also decrease.”
