Govt to import 13 lakh tonnes of rice, wheat to boost stocks, cool off prices
The decision was made during a meeting of the Food Planning and Monitoring Committee today
The government has decided to import around 13 lakh tonnes of food grains (rice and wheat) to boost supply and stabilise rice prices which have been soaring despite the recent Aman harvest.
The decision was made during a meeting of the Food Planning and Monitoring Committee held at the Cabinet Division conference room today (22 January).
According to the meeting minutes, around 20 lakh tonnes of rice and wheat are needed for the rest of the current fiscal year (FY25). While 7-7.5 lakh tonnes are expected from the current Aman and upcoming Boro harvests, the shortfall will be met through imports. To facilitate this, the government plans to contact foreign governments and invite international tenders soon.
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Finance Adviser Salehuddin Ahmed chaired the meeting attended by Food Adviser Ali Imam Majumder and senior officials from both ministries.
A food official told TBS that rice prices are climbing even during the peak Aman season due to lower-than-targeted production and comparatively low government stocks. This situation is believed to be exploited by some unscrupulous traders.
During the meeting, Salehuddin Ahmed said that while the country's food situation is not unsatisfactory, insufficient government stocks enable traders to exploit the market. Increasing food stocks through imports will help maintain stability.
Food adviser Ali Imam Majumder said that floods that occurred last year have impacted Aus and Aman production, causing a deficit in the government's domestic procurement. While a good Boro harvest could reduce the shortfall, the government has decided not to wait.
"Plans have been made to import 10 lakh tonnes of rice and wheat, with the possibility of importing more if needed. Imports from neighbouring countries will be prioritised to minimise costs, but other sources are also being considered," he said during the meeting.
Rice prices soar
Rice prices have been rising steadily over the past month. According to the Trading Corporation of Bangladesh (TCB), coarse rice was sold at Tk54–58 per kg in Dhaka markets today, up from Tk50–55 per kg a month ago. Medium-quality rice was priced at Tk60–65 per kg, compared to Tk56–63 per kg last month. Fine rice reached Tk70–84 per kg, an increase from Tk68–80 per kg a month earlier.
Current stock situation
The government provides rice and wheat at affordable prices to support low-income groups through initiatives like the food-friendly programme, open market sales, TCB card supplies, and ration distribution for various forces.
According to food ministry estimates, the government's rice and wheat distribution demand for FY25 is at 35.07 lakh tonnes — 27.79 lakh tonnes of rice and 7.28 lakh tonnes of wheat. From 1 July to 31 December 2024, around 15.47 lakh tonnes were distributed, leaving 19.60 lakh tonnes to be distributed by 30 June 2025.
Officials said that distribution in the first half was low, with current stocks of only 12.79 lakh tonnes — 8.98 lakh tonnes of rice and 3.81 lakh tonnes of wheat — by 22 January.
Reaching the 19.60 lakh-tonne target will be challenging. The Aman harvest, which started on 17 November, has yielded only 13,905 tonnes — 3.97% of the 3.50 lakh-tonne target. With the season ending on 28 February, officials doubt the target can be met in the next 37 days.
A food ministry official said the government will rely on imports due to low domestic procurement. If the next Boro season procurement falls short, imports may increase. The government aims to procure 5.48 lakh tonnes of rice and wheat domestically in the Boro season.
Floods disrupt Aus, Aman crop production
The food ministry's report indicates that flash floods last year hindered Aus and Aman crop production. The Aus season produced 28.82 lakh tonnes of rice, below the target of 38.37 lakh tonnes. Similarly, the Aman season yielded 171.81 lakh tonnes, falling short of the 175.39 lakh-tonne target.
Rice imports so far
This fiscal year, the government has finalised tenders to import 3 lakh tonnes of rice from India and 1 lakh tonnes of Atap (unpolished) rice from Myanmar. By 22 January, 57,362 tonnes had arrived from India and 27,000 tonnes from Myanmar. An agreement to import 50,000 tonnes of rice from Pakistan is in progress.
Private sector imports low
According to meeting sources, finance and food advisers are disappointed with private-sector rice imports, as many approved importers have not yet brought in rice. Despite waiving customs and regulatory duties on 31 October, only 2.34 lakh tonnes were imported by 21 January against an approved amount of 14.81 lakh tonnes.
