CHATTOGRAM, Jan 7: Bangladesh is importing five lakh tonnes of rice this year, according to the Directorate of Food. Of this, three lakh tonnes are being brought in through government-to-government agreements, and the remaining two lakh tonnes will be procured through open tenders.
Initially, over 1.50 lakh tonnes of rice are arriving in the country from Myanmar and India. This includes 1.05 lakh tonnes of rice from Myanmar and 50,000 tonnes from India. The rice from Myanmar will arrive in the country in ten ships, with the first consignment expected to arrive at Chattogram Port on 12 January.
Additionally, 50,000 tonnes of rice are being imported from India. A ship carrying rice from India recently arrived at Chattogram Port, unloading a total of 24,690 tonnes of rice. This shipment is part of an ongoing 50,000-tonne rice import, with the first batch consisting of 493,800 bags weighing 24,690 tonnes. The rice was procured through an international open tender issued by the Directorate General of Food in November, with an Indian company winning the contract to supply 50,000 tonnes of rice. The second consignment of rice from India is expected to arrive by next Saturday.
Currently, there is a stock of 7.65 lakh tonnes of rice, 4.48 lakh tonnes of wheat, and over 4,000 tonnes of paddy in the country. To ensure a steady supply of rice and keep prices within reach of buyers, the government aims to maintain a stock of 1.1 million tonnes of rice at all times.
Importers have stated that due to the rising price of rice in the domestic market, the government waived the import duty, leading to the resumption of rice imports. As India has also lifted price restrictions on rice exports, imports are expected to increase, helping to stabilise the domestic market price. The government authorised 24 importers, including 12 from Jashore, to bring in 73,000 tonnes of parboiled rice and 19,000 tonnes of Atap rice. India had imposed restrictions on exporting parboiled and Atap rice in July 2023, which were recently relaxed.
Despite an abundant harvest and steady imports, the price of rice in Bangladesh is defying seasonal trends and continuing to rise, leaving consumers frustrated and questioning the market dynamics. Newly harvested Aman rice has flooded the markets, supplemented by imports that include a recent shipment of 25,000 tonnes through Chattogram Port and a significant consignment from Myanmar after a two-year hiatus. Traders and millers attribute the price surge to multiple factors, including the government's dwindling stock, corporate procurement, and flood-related crop damage.
