Home ›› 14 Jan 2022 ›› Front
The price of the staple is at record high in local market despite a new mark of food reserve driven by optimum Boro procurement and highest ever imports.
According to the January 10 data of the food ministry, the government has 19.63 lakh metric tonnes of food reserve, of which 15.79 lakh metric tonnes are rice, 3.5 lakh metric tonnes are wheat and 0.34 lakh metric tonnes are paddy.
According to the January 1 data of the Directorate General of Food, the government had 18.55 lakh metric tonnes of food reserve ever recorded which was comprised 14.95 lakh metric tonnes of rice, 0.25 lakh metric tonnes of paddy and 3.44 lakh metric tonnes of wheat.
Despite the record reserve, the finer rice variety is selling for Tk 65 to 70 and BIRI 28 variety for Tk 50 to Tk 55 per kilogramme in the local market.
Likewise, coarse rice variety is being sold at Tk 44 to Tk 48 a kg depending on quality.
However, the food ministry claims that it is focusing on how to keep the market stable for coarse rice consumed mainly by the low-income group and most stocks are of the same variety of rice.
Asked about the hike in rice price despite record reserve, food secretary Mosammat Nazmanara Khanum said: “It is true that the price of the finer variety of rice this year is a little high if we compare that with the last couple of years.”
She, however, admitted that the stability of coarse rice price is most important since most rural and low-income people consume it.
“Currently, coarse rice is priced at Tk 42 to Tk 44 a kg and our target is to keep the price stable,” she said.
Record ever food reserve
On January 7, 2021, the government had only 5.31 lakh metric tonnes of rice reserve, of which around 1.90 lakh metric tonnes were wheat.
The New Year witnessed a record amount of 18.55 lakh metric tonnes of food reserve. The food ministry officials attribute the new mark of rice stock to successful Boro procurement.
“In Boro season, we procured around 12 lakh metric tonnes of rice. It helped build good stock,” according to the food secretary.
“We have already procured around 4.24 lakh metric tonnes of rice in Aman season and the procurement will go on. Next Boro season is near at hand.”
On January 1, the government had 15.11 lakh metric tonnes of rice and 3.44 lakh metric tonnes of wheat in stock which was 11.28 lakh metric tonnes higher than what was at the same time of the previous year.
On January 1, 2020, food reserve was 7.26 lakh metric tonnes of which 5.3 lakh metric tonnes were rice and 1.95 lakh metric tonnes were wheat, according to the Directorate General (DG) of Food.
The food data shows 13.84 lakh metric tonnes of food stock on January 1, 2019 in which 10.64 lakh metric tonnes were rice and 3.23 lakh metric tonnes were wheat. The stock was 12.79 lakh metric tonnes at the same time of the previous year.
On January 1, 2018, there were 8.21 lakh metric tonnes of food stock, of which 5.18 lakh metric tonnes were rice and 3.03 lakh metric tonnes were wheat.
“Our stock was down last year and that is why coarse rice price has gone high in the local market. So, we have just focused on increasing stock,” claimed the food secretary.
“Now we have enough food reserve and we believe that it is enough to face any critical situation.”
Record imports despite record production
In 2021, Bangladesh produced a record amount of rice, but it also imported a record amount of the food staple compared to that in the last two decades.
During this period, around 3.86 crore metric tonnes of rice were produced in 2021 while 22 lakh metric tonnes were imported.
Between October and February in FY18, rice import was 31.65 lakh metric tonnes.
In November 2020, the government stocks declined and dropped to 6 lakh metric tonnes that pushed the rice price up in the local market. To rein in the price, the government went for import.
Food Secretary Nazmanara said, “We were bound to make imports because that time the rice market was spiraling out of control. Now it is almost stable except the finer variety.”
“But the problem is we have a reserve capacity of only 22 lakh metric tonnes. If we fail to release a minimum 6 lakh metric tonnes within June, we won’t be able to give enough space for Boro stock.”
“Therefore, we asked the higher authorities concerned to step up social caffeinate programme,” added the secretary.
