UNNECESSARY rice import from India has phenomenally increased raising question as to why the government is allowing such import when Bangladesh is producing more than domestic demand and exporting rice to clear existing stock. The Cabinet had discussed the matter last week but the Food Minister had no justifiable answer why we are allowing Indian dump of excess rice stock that we don’t want. The report said private traders have so far imported 8.73 lakh tonnes of rice from India between last July and March this year while the government has around 10 lakh food grains in buffer stock to face any emergency. These traders have business interest in both countries and running the business unchecked. There is a growing apprehension that they are operating under the cover of some influential political quarter to mint money at the cost of the nation. The report said this year’s import is the highest since 2010-11 leaving the government policy makers and observers alike to wonder why such huge import has been allowed to flood the local market.
Moreover it is taking place in the back of recent export of 25,000 tonnes of rice to Sri Lanka and another 25,000 tonnes are awaiting shipment. The report said, Bangladesh is sitting on huge food grains stock with storage facilities running over-packed. The government stock is almost remaining idle in absence of any emergency in the first place and then the use of the stock has dropped for test relief and such other food for works because poor people can buy food now at relatively lower price from open market and political troubles are denying environment for public works. Reports said India is exporting rice to clear its storage facility ahead of next harvest season but this in turn is blocking the releasing of Bangladesh government held stock and unlocking the storage capacity to buy food grains during the upcoming Boro season. It is also dumping local price of rice reducing farmers income
The report said the Food Minister’s explanation included all these factors, but lacked a satisfactory answer. He has rather pointed finger of blame at the Ministry of Commerce, which oversees trade and commerce. But the fact is that Bangladesh government is allowing duty-free import of rice from India that we don’t need at the moment and this in turn is allowing India to sell excess stock at ‘dumping price.’ This policy is however in direct contravention of the statement of a Minister of Indian central government who on Wednesday said his country must tighten border to restrict export of cattle herd to cause a rise in beef price in Bangladesh.
It is true that the Indian government has its trade policy that would support its economy and other national interest. But the question is why the Bangladesh government is not having a cohesive trade policy based on domestic need.
