Take immediate action against rice hoarders: PM

Prime Minister Sheikh Hasina has instructed those concerned to take strict action against those hoarding rice to curb a rise in the price of the staple during the ongoing Boro season.

The prime minister also directed the commerce, food and agriculture ministers and their secretaries to take immediate steps to find out the reasons behind any rice price hike through monitoring and supervision.

The premier gave the directives at a Cabinet meeting in her office on Monday, said Cabinet Secretary Khandker Anwarul Islam during a press briefing, adding, "The Cabinet has urged immediate action after a market overview."

He said, "The meeting also discussed details about the market mechanism and how to ensure payments in the international market. The Bangladesh Bank governor was present at the meeting," he said.

Anwarul said there was a detailed discussion about rice and oil prices.

"We have conducted drives against oil hoarders. Similar drives will be conducted [against rice hoarders too] after holding a market survey," he added.

In the last three weeks, the price of different kinds of rice has gone up Tk3-6 per kg on average.

On Sunday, good quality Miniket rice was selling for Tk70 per kg in wholesale shops at the Krishi Market in the capital, while retail consumers had to spend Tk74-75 per kg for the same rice. Per kg wholesale standard Miniket was Tk64-65, and Tk68-70 in the retail market. Another variety of the rice was available for Tk65 and Tk60 in the retail and wholesale markets respectively.

Wholesale Swarna and Paijam rice are Tk45-46 per kg Tk50 in the retail market, while good quality Nazirshail rice has crossed Tk80 per kg.  

According to TCB's Sunday market analysis, compared to last year, fine rice is selling at 7% higher this season while medium quality fine rice is 4% higher in cost, and coarse rice is 6.5% higher.

Meanwhile, Food Minister Sadhan Chandra Majumder said that the condition in the rice market must be monitored and the Boro paddy procurement drive must be a success.

Speaking at a virtual view-exchange meeting on "Boro 2022 season's internal procurement and market monitoring" at the Secretariat on Sunday, he warned, "If any attempt is made to destabilise the rice market, action will be taken against those involved irrespective of their party affiliation."

There is an unhealthy competition among traders to buy and hoard paddy thinking it will be profitable but it will not bring good results, the minister said.

"We get Boro, Aush and Aman paddy gradually. There will not be any real food crisis…only artificial crises. We urge businessmen not to stock rice," he said.

Earlier in April, the government decided to procure paddy and rice this Boro season at increased rates.

The purchasing price of paddy from farmers has been set at Tk27 a kilogramme while that of rice to be bought from millers has been fixed at Tk40 per kg, which, respectively, are Tk1 and Tk4 higher compared to last season.

"The government has made the decision to procure 11.5 lakh tonnes of rice, including parboiled and atap (non-boiled), and 6.5 lakh tonnes of paddy in the current Boro season. Of these, around 10 lakh tonnes of parboiled rice will be bought at Tk40 a kg and 1.5 lakh tonnes of atap rice at Tk39 per kg."

Last Boro season, per kg of parboiled rice was bought at Tk36, atap rice at Tk35, and paddy at Tk26.

The collection of Boro paddy started on 28 April and that of rice on 7 May, which will continue till 31 August.

According to ministry data, so far 94.44% of the total cultivated paddy has been harvested across the country. This season, paddy has been cultivated on 49.66 lakh hectares of land.

Heavy rains, floods, storms, and landslides are estimated to have cut down paddy harvesting to about 80,000 tonnes in the current Boro season, according to a recent report of the agriculture ministry.

Total paddy production, however, is predicted to be more than three lakh tonnes higher than last year's, the report said.

According to the report, the season's paddy production is estimated to be over 2.11 crore tonnes, whereas last year's production was 2.08 crore tonnes.

Cabinet clears RTA policy to face post-graduation challenges

The Cabinet yesterday approved the draft of Bengali and English versions of the Regional Trade Agreement (RTA) Policy, 2022 aimed at protecting and expanding export markets to effectively face the post-graduation challenges.

Cabinet Secretary Khandker Anwarul Islam told a news briefing at the Bangladesh Secretariat that Bangladesh needs to sign trade agreements with many countries to protect and expand export markets as well as ensure duty-free access for Bangladeshi products by overcoming the challenges of the post-graduation from LDC.

"We've taken steps to go for regional trade agreements. So, the policy has been taken for it (signing RTAs)," he said.

The meeting, he said, also approved the draft of Bangladesh Small and Cottage Industries Corporation Act, 2022 to make the industrial entities under the BSCIC more effective.

The proposed law will promote women entrepreneurs as the existing law, 1957 is an old one, which needs to be revised.

The Cabinet also approved in principle the draft of International Mother Language Institute (Amendment) Act, 2022 to form a language research trust under the institute.

The name of the trust will be 'Bangabandhu Sheikh Mujibur Rahman Language Research Trust' under which a permanent fund will be created, he said.

Anwarul added that scholarship and fellowship will be given from the permanent fund for language research and development.

The meeting endorsed the ratification proposal for an agreement to be signed between Bangladesh and Oman on the mutual visa exemption for the holders of diplomatic, official, special or service passports.

The cabinet also approved the proposal for providing the transit facilities to Nepal under the Bangladesh, Bhutan, India and Nepal-Motor Vehicle Agreement (BBIN-MVA) by cancelling its earlier decision over the Operating Modalities for the Carriage of Transit Cargo between Nepal and Bangladesh.

About government measures to open the Padma Bridge to traffic on 25 June  next, the cabinet secretary said the bridge would be opened through a super-gorgeous ceremony.

There will be replication of the original gala event in all the 64 districts in the country simultaneously, he added.