By Siddique Islam
Dhaka, Feb 10 (NNS): Bangladesh will import at least 132,500 metric tons (MT) of rice at a cost of Tk 2.26 billion to meet emergency need.
The decision was taken at the meeting of cabinet committee on purchase held Dhaka Thursday with Finance and Planning Minister M Saifur Rahman in the chair.
Of the rice to be purchased, 70,000 MTs valued at Tk 1.12 billion will be imported from India while the rest 62,500 MTs worth Tk 1.13 billion collected from local markets, as per the approval of the cabinet committee.
“We have decided to procure rice on an emergency basis to avert future crisis,” Finance Minister told reporters after the meeting.
The country's total annual rice demand is about 25 million MTs, at a rate of over two million MTs per month. However, the buffer stock of rice has reduced to 0.6 million MTs from the required one million MT, forcing the government to procure the item on an urgent basis, sources in the concerned ministry said.
Earlier, amidst unbridled price hike of rice, the national taskforce to check prices of essentials Wednesday suggested to cut the import duty of rice at 'zero' level as a short-term remedy to check the upward trend of rice prices.
In Dhaka, one kilogram (kg) of coarse rice was being sold between Tk 18 and Tk.19 this week against that of Tk 16 and Tk. 17 a month back. The price of flour also recorded a rise by Tk. 2.0 kg over the same period.
The prices of rice are rising slowly due to effect Aman harvest by last year’s devastating floods and heavy downpours. The price of flour also increased because of rising prices of wheat in the global market. (End/si)
