Home ›› 04 Sep 2021 ›› Front
The price of coarse rice fell slightly, but the cost of other varieties remained high in the market despite record production and regular imports.
During visits to several retail markets in the capital, The Business Post found that the per kg price of coarse rice fell to Tk 46 from Tk 48 in two days, while that of BRRI 28 declined to Tk 48-50 from Tk 51-52. A kg of the more refined variety was selling for Tk 60-65 based on quality.
At Babu Bazar and Mohammadpur wholesale markets, a kg coarse variety cost Tk 42-43, BRRI 28 Tk 46 and the finer type Tk 54-55.
Currently, a tonne of rice costs $350-386 in the international market. After import, the per kg price reaches Tk 32.5-38.15, according to the food ministry.
Ministry officials said traders should not sell the coarse variety of imported rice at more than Tk 40 a kg.
The food ministry decided to import rice through private importers in early August. NBR cut the import duty to 25 per cent from 62.5 per cent, effective until October 30, at the ministry’s request.
The ministry approved 16.93 lakh tonnes import by 415 private importers who have to bring the rice within September 25. Bangladesh has imported 2.63 lakh tonnes of rice since July.
The Department of Agricultural Extension said the country produced 2.8 crore tonnes of Boro rice this season which was 1.96 crore tonnes in the previous season.
15.2 lakh tonnes in stock
According to the food ministry, the government has 15.2 lakh tonnes of rice in stock. Three months ago, it was below 4 lakh tonnes.
Meeting the procurement target through domestic sources and massive imports helped the government boost the stock.
The government procured around 11 lakh tonnes of rice and 3.59 lakh tonnes of paddy in the Boro season. In the 2020 season, the ministry targeted to collect about 19 lakh tonnes of Boro paddy and rice but managed to procure only 9.44 lakh tonnes.
On the other hand, the government imported around 5 lakh tonnes of rice this year and another 3 lakh tonnes is on the way.
