Bangladesh : Rice procurement almost achieved
The government nearly achieved its rice procurement targets for the Boro season, buying 1.45 million tonnes of rice. Despite surpassing the rice target by 5%, it fell short on paddy procurement. Rising market prices later in the season impacted procurement. The Directorate General of Food will decide on imports based on availability and flood effects. Public warehouses hold 1.93 million tonnes of grain.
The government has almost achieved its rice-procurement target this Boro season that started in May and ended on August 31.
The government had a target to purchase 1.1 million tonnes of parboiled and 0.1 million tonnes of white atap rice.
It has also an aim to buy 0.5 million tonnes of paddy directly from the farmers.
With the end of the procurement drive, the Directorate General of Food (DGoF) has so far purchased 1.13 million tonnes of parboiled rice, 0.13 million tonnes of white rice and 0.3 million tonnes of paddy.
Converting the paddy into rice, the government has purchased a total of 1.45 million tonnes of rice from the millers and farmers during the Boro procurement drive, said DGoF officials.
They said the taking into account the conversion for paddy into rice, the target was to buy a total of 1.5 million tonnes of rice in the season.
Md Moniruzzaman, director of the DGoF (procurement), has said that the organisation has purchased above 5.0 per cent more rice than the primary target.
“The paddy procurement target could not be achieved but we get above 0.3 million tonnes which is manyfold higher than that of last year.”
He also said the paddy price was attractive for farmers in the beginning of harvest, but later the mainstream market prices surged further than that of the government procurement price.
Asked, he said the directorate has a target to buy 0.3 million tonnes of rice this financial year.
Although production of rice was much higher in the last Boro and Aman seasons, the directorate has been closely observing the present condition following a flood in 11 of the southeastern districts.
He said a decision to import rice would be taken immediately based on availability of the grain in the country, he said.
Prof Dr Rashidul Hasan, a farm economist, said that the asking rate of rice procurement was a handsome amount of Tk 44-45 a kg for the millers which attracted them to supply rice to the government.
He said paddy price was also good at Tk 32 a kg which was also enthusiastic for farmers in the beginning of the harvesting season.
He said as per the agriculture ministry’s claim, the Boro season witnessed a bumper production.
He urged the government for the quick release of the Boro output by the Bangladesh Bureau of Statistics (BBS) to enact timely import policy.
Prof Rashidul said the interim government should maximise its food grain storage to tackle any instability in the off season that prevails from October to November.
He also put high emphasis on providing all logical support to the flood affected farmers so that they could try to replant paddy seedlings in suitable places as well as could cultivate other crops immediately to raise food production.
Meanwhile, the DGoF said the public warehouses have 1.93 million tonnes of rice and wheat of which the staple rice comprises 1.5 million tonnes.
Source Link : https://thefinancialexpress.com.bd/trade/us-locks-in-steep-china-tariff-hikes-many-to-start-sept-27
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