Rice to be imported privately for market stability: Food Minister

The government has decided to allow private firms to import duty free rice to keep the rice market stable.

The decision came amid soaring rice prices in the market during the peak Boro season.

The resolution of the meeting will soon be sent  to the prime minister for approval, Food Minister Shadhan Chandra Majumdar told journalists following a meeting of Food Panning and Monitoring committee (FPMC) today (June 6, 2022).

"The prime minister will take a final decision on it," he said.

The food minister also said, "We will ensure farmers and other concerned are not affected with the decisions," the minister added.

Next steps will be taken following the approval, he added.

About the continuing drive against the illegal rice storage, he said that consumers are benefiting from the drives and the ongoing drives against illegal hoarders will continue, he added.

The food minister presided over the virtual meeting of FPMC, Local government and Rural Development minister Tajul Islam, Fisheries and Livestock minister SM Rezaul Haque, Commerce minister Tipu Munshi and state minister for Disaster and Relief ministry took part in the meeting.

Chairman of National board of Revenue, senior secretary of Agricultural ministry, cabinet secretary and secretary of food ministry also participated in the meeting.

According to the Trading Corporation of Bangladesh (TCB), the prices of coarse and fine rice increased by 5.38 percent and 3.17 percent just in seven days.

Currently coarse rice is being sold at Tk 48 to Tk 50 a kg.

The government silo has a total stock of 12.92 lakh metric tonnes of food of which there is 11.39 lakh tonnes of rice, 1.29 lakh tonnes of wheat and 0.37 lakh tonnes of paddy.