Anisul Islam Noor :
The government’s move to make the local market stable by improving the supply position through its procurement drive is unlikely to achieve as millers have shown less interest to this drive because its price is higher in the market than it offered to them.
The country’s food stock has shown no sign of stability as the private sector imports have hit a 4-year low amid rising price in the global markets. Rice import by the private sector has dropped at a time when its prices have shot up in the domestic market.
Traders imported only 1.2 lakh tonnes of rice till mid-June in the current fiscal year against 2.56 lakh tonnes in the previous fiscal year.
The rice reserve stood at 4.86 lakh tonnes.
Director General of the Food Directorate Badrul Hasan told the reporter, “There are laws to take action against the rice mills who refuse to give the government grain. We are compiling a list of such mills. Those who are supplying rice to the government will be given priority and special facilities next year.”
Food Minister Kamrul Islam said, “The government decided to ease rice import by reducing the duty to 10 percent.”
About rising rice prices in the international market, the Minister said, “There is no hide-and-seek about international rice prices. It’s all there on the Internet.”
As the domestic rice market has become volatile, the government is trying to replenish its depleting stock through quick import. The government decided to import two lakh tonnes of white rice and 50000 tonnes of parboiled rice from Vietnam.
The government has to spend US$470 for per tonne of parboiled rice and US$430 for white rice.
The state-run Trading Corporation of Bangladesh recorded 47 percent hike in the prices of coarse rice this month compared to that in the corresponding month last year.
