The government has recently allowed traders to import rice in order to control the syndicate in the local rice market, Agriculture Minister Muhammad Abdur Razzaque said today.

"Different types of syndicates are active in the rice market. Besides, some traders artificially raise prices of rice. To keep them under control, we have given the option for importing rice," he said.

The minister spoke at a seminar at the Bangladesh Agricultural Research Council auditorium organised by the Bangladesh Academy of Agriculture (Baag).

"The price of rice is a little higher now. However, there is no concern about the price of rice," he added.

The minister said prices of various commodities, including oil, have gone up across the globe due to increasing transport costs.

The cost of production of rice has also increased, he added.

Razzaque also said the government is giving a subsidy of about Tk 28,000 crore to the farmers to provide fertilisers at low price.

The government will make all-out efforts to avoid shortage of fertilisers, he added.