In an effort to stabilize food supplies and boost the country's economy, Bangladesh, which had shown signs of drifting closer to China after fall of former prime minister Sheikh Hasina in early August, has once again turned to India for help to buy food items like rice, lentils etc. India media reported on Monday.
While India-Bangladesh relations have faced challenges, India has consistently stood firm in supporting Bangladesh during its times of need, said india.com.
"Despite frequent accusations from Bangladesh, New Delhi has extended help under its Neighbourhood First policy," the report said.
Amid the food supply crisis and skyrocketing inflation, the interim government of Bangladesh has decided to purchase 50,000 tons of rice from India. Notably, Bangladesh will use the rice for state-sponsored food distribution programs, and India has agreed to supply it.
The proposal was approved during an Economic Affairs Advisory Committee meeting chaired by Finance Advisor Salehuddin Ahmed. Accordingly Bangladesh's Food Ministry plans to import rice from M/s Bagadia Brothers Private Limited at USD 456.67 per ton.
As per the Food Ministry data, Bangladesh had a food stock of 1.1148 million tons including 742,000 tons of rice as of December 17. In the current fiscal year, Bangladesh has imported 2.625 tons of food grains, which also includes 54,170 tons of rice.
For the 2024-25 fiscal year, the government plans to distribute 2.052 million tons of food grains through various channels. 800,000 tons of rice will be procured locally from the Aman season harvest, with more rice to be collected during the Boro season in early 2025.
In an effort to stabilize its food supplies and boost the economy, Bangladesh's Trading Corporation (TCB) is reaching out to local industries. Setting its sight on Dhaka's Sheikh Agro Food Industries, they'll be purchasing a hefty 10,000 tons of lentils, spending Tk 95.40 on each kilogram. Not stopping there, TCB is planning to buy a whopping 11 million litres of soybean oil from another Dhaka-based firm, the City Edible Oil Limited, parting with Tk 172.25 for each litter. This indeed showcases Bangladesh's strategic import plans aiming to nurture regional kinship with India.
