Rice prices in Bangladesh have started to fall following imports from Pakistan, India, and Myanmar. The interim government has decided to import 250,000 metric tons of rice from these three countries to stabilize the market.
Already, 14,658 metric tons of rice have arrived from India through various land ports. As this rice entered the market, retail prices dropped by 3 to 5 taka per kg.
Additionally, market instability has eased as the government continues selling food-friendly rice at a fixed rate of 5 kg per consumer.
It has been reported that 14,658 metric tons of parboiled rice and 18 metric tons of raw rice entered Bangladesh through land ports at Hili in Dinajpur, Sonamasjid in Chapainawabganj, and Bhomra in Satkhira.
Over the past week, rice prices in Bogra have decreased by 3 to 5 taka per kg, and further declines are expected when shipments from Pakistan and Myanmar begin arriving in phases. The market is expected to remain stable until the arrival of Boro rice.
According to the Bogra Food Department, the government has planned to import 50,000 metric tons of Atab rice from Pakistan for the northern region, including Bogra, 50,000 metric tons from India, and 150,000 metric tons of parboiled rice from Myanmar.
The Food Ministry has already finalized agreements with these three countries. Additionally, private imports from India have begun, contributing to the decline in rice prices across the Bogra market.
Meanwhile, the government has approved the import of 600,000 metric tons of rice for the 2024-2025 financial year in the public interest. An Economic Advisory Council Committee has been formed to oversee this process.
Officials will monitor the market to prevent instability, ensuring that traders do not create artificial shortages by illegally hoarding rice.
In Bogra district, 24 OMS (Open Market Sale) dealers operate across 12 upazilas, each receiving 2 tons of rice for distribution. OMS rice is sold five days a week, with each consumer allowed to buy 5 kg at a government-set price.
This has reduced market demand, contributing to falling rice prices. Additionally, four rice importers in Bogra have brought in approximately 3,500 metric tons of rice, further stabilizing the market.
According to the Bogra Department of Agricultural Extension, the district's rice production during the Aman season exceeded its target. The targeted production was 598,316 metric tons, while actual production reached 660,564 metric tons. Last year, the target was 599,250 metric tons.
Local traders confirm the recent price reductions. Fifty-nine rice is now 58 taka per kg, down from 60 taka a week ago. Ranjit rice is selling for 54-55 taka per kg, Atsa rice is priced at 63 taka per kg, and Kataribhog rice ranges from 74-76 taka per kg. However, Polao rice remains unchanged.
Bogra District Food Control Officer Md. Riazur Rahman Raju confirmed that rice prices in Bogra are declining due to imports from Pakistan, India, and Myanmar.
He said that the government has decided to import 250,000 metric tons of rice from these countries, and shipments from India have already begun.
Prices are expected to fall further as more rice arrives in phases, according to him.
He also reiterated that the interim government has approved the import of 600,000 metric tons of rice from the international market to further stabilize prices.
BDST: 1014 HRS, JAN 18, 2025
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