Cabinet purchase body okays import of 0.2m tonnes rice
FE Report | Thursday, 17 March 2011
FE Report
The government's highest purchase body Wednesday approved import of 0.20 million tonnes of rice from Vietnam for developing a buffer stock of the essential to shield the country from any food crisis amid volatility in global food grains market, officials said. The cabinet committee on public purchase approved import of 0.10 million tonnes of boiled rice (non-basmoti) at the rate of US$575 per tonne, and 0.10 million tonnes of non-boiled rice at the rate of $530 per tonne. Finance Minister A M A Muhith said the government wants to develop a comfortable stock of food grains in the country to tackle any crisis. Dhaka has already signed a state-to-state procurement deal with Hanoi for getting 0.35 million tonnes of rice, he said. Bangladesh, the largest rice buyer in South Asia, has doubled rice import target for the current fiscal to rein in its prices in the domestic market. Rice prices surged to a record high in February, as both the consumers and the farmers hoarded rice, said the government officials. The rice import target for this fiscal was raised to 1.2 million tonnes, from the previous target of 0.60 million tonnes, set in November 2010. Then the government also signed deals with India to import 0.30 million tonnes of rice to enhance stock. The cabinet body, in its Wednesday meeting, also approved four other proposals of procuring goods and services. The committee endorsed the bids of four contractors for construction of flats at Anandanagar, Mirpur in the city, and appointment of a consulting firm for conducting feasibility study on construction of the Karnaphuli river tunnel. It also approved import of 25,000 tonnes of urea from Qatar at a cost of Tk 703.47 million, and supply of 41,486 electricity poles by Charka SPC Pools Ltd JV, costing Tk 792.4 million.
The government's highest purchase body Wednesday approved import of 0.20 million tonnes of rice from Vietnam for developing a buffer stock of the essential to shield the country from any food crisis amid volatility in global food grains market, officials said. The cabinet committee on public purchase approved import of 0.10 million tonnes of boiled rice (non-basmoti) at the rate of US$575 per tonne, and 0.10 million tonnes of non-boiled rice at the rate of $530 per tonne. Finance Minister A M A Muhith said the government wants to develop a comfortable stock of food grains in the country to tackle any crisis. Dhaka has already signed a state-to-state procurement deal with Hanoi for getting 0.35 million tonnes of rice, he said. Bangladesh, the largest rice buyer in South Asia, has doubled rice import target for the current fiscal to rein in its prices in the domestic market. Rice prices surged to a record high in February, as both the consumers and the farmers hoarded rice, said the government officials. The rice import target for this fiscal was raised to 1.2 million tonnes, from the previous target of 0.60 million tonnes, set in November 2010. Then the government also signed deals with India to import 0.30 million tonnes of rice to enhance stock. The cabinet body, in its Wednesday meeting, also approved four other proposals of procuring goods and services. The committee endorsed the bids of four contractors for construction of flats at Anandanagar, Mirpur in the city, and appointment of a consulting firm for conducting feasibility study on construction of the Karnaphuli river tunnel. It also approved import of 25,000 tonnes of urea from Qatar at a cost of Tk 703.47 million, and supply of 41,486 electricity poles by Charka SPC Pools Ltd JV, costing Tk 792.4 million.