Bangladesh Govt achieves 70pc of rice target
The government has achieved 70% of its rice and paddy procurement target during the Aman season, collecting 0.53 million tonnes as of March 9. The target is 0.65 million tonnes of rice and 0.35 million tonnes of paddy by March 15. Rising market prices impacted paddy procurement, but rice procurement reached 85% of its goal.
The government has been able to achieve 70 per cent of its rice and paddy procurement target from domestic sources during the Aman season.
As of March 9, the Directorate General of Food (DGoF) has collected 0.53 million tonnes of rice. The deadline for the procurement is March 15.
In November, the government set a target to procure 0.65 million tonnes of rice and 0.35 million tonnes of paddy from the Aman harvest.
An official at the DGoF said when converted into rice, the overall target exceeds 0.8 million tonnes. “Out of the target, we have been able to purchase 70 per cent or 0.53 million tonnes.”
The government has purchased parboiled rice at Tk 47 a kg, white rice (atap) at Tk 46 a kg, and paddy at Tk 33 a kg. The procurement period runs from November 17, 2024 to March 15, 2025.
Director of Procurement at DGoF Md Moniruzzaman stated that paddy prices surpassed their asking price which is the key reason for a failure to meet the paddy procurement target. “But we have achieved 85 per cent of the rice procurement target, as millers began supplying the grain as soon as harvest began.”
He added that the market price has now surged to Tk 50-51 a kg at mill gates, but the government has been able to buy rice earlier before the price hike.
Farm economist Prof Golam Hafeez Kennedy said that the government should maximise its grain procurement from the domestic sources following sharp rises in market prices. He noted that rice prices have increased by over 15 per cent in a year-much higher than the country’s official inflation rates. He also emphasised the need to continue rice imports to maintain market stability.
According to the DGoF, the government has so far imported 0.26 million tonnes of rice in the current financial year out of its targeted 0.5 million tonnes, said DGoF. The total rice import by both private and government agencies have reached 0.52 million tonnes so far. The public warehouses have now 1.5 million tonnes of grain, with rice accounting for 1.1 million tonnes. The country produced a record-high 16.7 million tonnes of rice in the last Aman season, while the target for the current financial year is 17.6 million tonnes. The Aman season contributes 38 per cent to the total rice production.
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Source : Financial Express
