Bangladesh will buy one lakh tonnes of white rice from Vietnam
Bangladesh is importing 100,000 tonnes of white rice from Vietnam at $474.25 per tonne to stabilize local prices. Despite being a major rice producer, the country relies on imports during supply shortages. The government’s strategy includes securing rice from multiple sources and distributing it at discounted rates to control inflation and support lower-income households.
iGrain India – The news about Bangladesh’s import of one lakh tonnes of white rice from Vietnam highlights a strategic move to stabilize the local rice market.
Despite being a major rice producer in South Asia, Bangladesh faces recurring issues with domestic supply and rising prices, which necessitate the import of rice, especially in years of low production or high demand.
The 2023 rice import of around 20 lakh tonnes mainly came from countries like India, Thailand, Vietnam, and Myanmar.
This import trend is continuing into 2024, with the recent deal for 100,000 tonnes of white rice from Vietnam marking a return to that source after a long gap.
The price of $474.25 per tonne is higher than usual in the global market, but Bangladesh seems to have prioritized stabilizing prices and securing enough rice for the public.
The government’s open market sale scheme, which will distribute rice at discounted prices through 906 centers across the country, including Dhaka, is likely aimed at controlling inflation and supporting lower-income households.
The government’s strategy seems to involve securing sufficient rice supplies from a mix of sources, including Vietnam and India, to keep prices affordable.
This approach of sourcing rice from multiple countries, particularly at different price points, shows Bangladesh’s proactive stance in managing its rice market and preventing any sharp price hikes that could negatively affect its population, especially with large-scale rice distribution planned for cities and worker-heavy areas.
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Source : Investing.com
