Govt to procure paddy, rice at higher prices this Boro season

The government will procure 4 lakh tonnes of paddy and 12.5 lakh tonnes of rice during this Boro season at a higher price than the previous season, said Food Minister Sadhan Chandra Majumdar on Thursday.

"Paddy will be procured at Tk30 per kilogram and rice at Tk44," he told reporters after a meeting of the Food Planning and Procurement Committee.

Last Aman season, the government collected paddy at Tk28 per kg and rice at Tk42 per kg. Just a year ago, paddy was procured at Tk27 per kg and rice at Tk40 per kg during the Boro season.

The minister said, "The procurement prices of paddy, rice, and wheat have been increased taking into account various factors such as production costs, transportation costs, and the cost of living in the country.

"This time a target of collecting 1 lakh tonnes of wheat has been set at the rate of Tk35 per kg. Last year, the collection price of wheat was Tk28 per kg."

The minister further said the procurement campaign will continue from 7 May to 31 August.

Every year, the government procures paddy and rice from the domestic market.

The government set a target to collect 3 lakh tonnes of paddy and 5 lakh tonnes of rice during the Aman season. The Directorate General of Food has collected 4,695 tonnes of paddy and 4.30 lakh tonnes of rice till 7 March.

At present, the government holds a food stock of 17.29 lakh tonnes, consisting of 4.18 tonnes of wheat and the remainder being paddy and rice.

Often, the government is unable to purchase paddy or rice from the domestic market because the government-set price is lower than the prevailing market rate.

As per the Trading Corporation of Bangladesh (TCB), coarse rice varieties such as Swarna and China were sold in the markets in the capital at a price range of Tk46 to Tk50 per kg. Medium-quality rice options such as Lata and Paijam were priced at Tk48 to Tk56 per kg.