The government is going to import another 50,000 tonnes of parboiled rice from India to increase the food stock. The Directorate General of Food has sought approval from the cabinet committee on government purchases to import the rice. This would be the seventh consignment of 50,000 tonnes of rice to be imported from India through bidding. Since March, the government has given import orders for 3 lakh tonnes of rice in six shipments.
The food directorate has a target to import 5.5 lakh tonnes of rice through bidding. The directorate is importing 1.50 lakh tonnes of rice from India under a government-to-government deal against the backdrop of falling government food stock. The government is importing rice also from Vietnam due to a shortfall in rice output. In the last fiscal, the government imported 13.5 lakh tonnes of rice – 5.7 lakh tonnes through government channels and 7.8 lakh tonnes through private channels. In July, 1.4 lakh tonnes of rice were imported, through the government channel.
Despite a significant rise in rice import in recent months, prices of the staple are still high in the market. The prices of coarse varieties of rice increased by Tk 2-4 a kilogram in the city markets over a week. During monsoon, which is the season of the floods, food stock usually depletes due to relief activities as well as wastage. A buffer stock of the staple is considered helpful for overcoming stress situations. Amid the resurge of Covid-19 infection, adequate food stock will ensure food security. Despite this, the administration should keep its eyes open to make a balance between demand and supply as excessive stock may lower the local procurement price.
