The allocation for the food ministry remained almost static at 0.8 per cent of the total budget outlay for fiscal year (FY) 2022-23, raising concerns among the experts due to volatility in the global commodities market.
The ministry received an allocation of Tk 56.72 billion in the proposed budget which is only 0.8 per cent of the total budget outlay. It was also 0.8 per cent as proposed in the budget for FY'22.
The allocation is even little lower than that of the revised budget of Tk 56.98 billion for FY22.
The food ministry got an allocation of 1.0 per cent of the total budget between FY'19 and FY'21.
Despite the lower allocations, the government has targeted to purchase 3.1 million tonnes of rice and wheat in the upcoming FY while setting a target to distribute 3.31 million tonnes of the food grains among people, according to the budget speech.
In the lean seasons -- from September to November and from March to April -- the government will continue food assistance of 30 kg of rice each month at Tk 15 a kg to 5.0 million low-income households.
Simultaneously, the government is also working on maintaining buffer stock by expanding the food grain storage capacity to 2.5 million tonnes by the end of FY'23.
Furthermore, the government also aimed to increase the storage capacity up to 3.7 million tonnes in the 8th Five Year Plan.
The government is also implementing a scheme to inspire farmers to build small-sized (25 feet long and 15 feet wide) 'Natural Potato Storages' in their homestead to store surplus potato for 3-4 months at a much cheaper cost compared to that of commercial cold-storages, said the finance minister in his budget speech.
The food ministry data showed that the government has so far purchased 0.3 million tonnes of rice and paddy from the millers and farmers against a target of 1.8 million tonnes until August 31 next.
The public warehouses now have 1.38 million tonnes of food grain stock, including 1.25 million tonnes of rice and paddy.
Economist and value chain expert Prof Gomal Hafeez Kennedy said the global prices of essential commodities including rice, wheat, maize, oil seeds, fuel, fertilizer, etc. have hit a decade high, affecting the Bangladesh market severely.
The prices of rice, wheat flour, edible oil, diesel, etc. have increased notably in Bangladesh in the last one year, battering the low and middle income groups, he said.
He said the government should have necessary preparations to source essential commodities in time to tackle any crisis in this war-hit global volatile market.
He said the country must have a 2.5 million tonnes of buffer stock of food grains for ensuring a better food security.
Prof Kennedy said that allocation for food, agriculture, social safety-net, health and education should get top priority during this volatile period.
tonmoy.wardad@gmail.com
