Russia to export 3 lakh tonnes wheat to Bangladesh

Bangladesh and Russia have reached an agreement regarding wheat import from the latter, under which the former will primarily import 3 lakh tonnes.

The decision was reached during a meeting between Russian Ambassador in Dhaka Alexander Vikentevich Mantitsky and Food Minister Sadhan Chandra Majumder at the secretariat in Dhaka on Thursday.

Russia is interested in playing its role in securing food security in Bangladesh. As part of this, the Russian ambassador proposed wheat export, according to a Food Ministry press release.

Sadhan told Mantitsky that Bangladesh’s relationship with Russia is excellent and it’s expanding gradually in various fields, including investment and trade.

The minister also thanked Russia for its decision to export wheat to Bangladesh.

This move will play an important role in improving the bilateral relationship, Sadhan told the Russian envoy.

The two also discussed various bilateral issues focusing on trade and commerce at the meeting.

The news of 3 lakh tonnes of wheat import comes at a time when the grain’s supply in the local market has become increasingly uncertain with the export corridor for the grain from Russia and Ukraine yet to open despite a recent agreement between the two warring countries. The situation has worsened further due to the ban on wheat export in neighbouring India.

Under the circumstances, wheat price in the local market is on an upward trend at the moment.

Last week, traders said the current stock of wheat and the consignments on the pipeline will be able to meet the demands for two months at best.

If Bangladesh cannot import wheat from India or Russia and Ukraine, the local market and its future would turn volatile and uncertain, they said.