Govt issues rice import warning to cool mkt

The government has warned mill owners and traders of rice imports if they fail to bring down prices that have soared recently by Tk 5-6 per kg nationwide.
Food Minister Sadhan Chandra Majumder issued the warning on Wednesday. During a meeting with rice traders at the Directorate General of Food (DGoF), Mr Majumder directed mill owners and traders to reduce prices within four days.
He said, "Just as you raised prices swiftly, you must now bring them down gracefully."
The minister expressed concern about the unexpected increase during the Aman harvest season, saying such increases are "unacceptable".
At the meeting, he mentioned how corporate packaging adds only Tk 2-3, but prices to supermarkets are inflated by up to Tk 8.
The minister said market monitoring is underway to restore prices within four days. Strict action will be taken against those with unlicensed and illegally stockpiled rice.
Sadhan Chandra Majumder said the process of bringing in rice from foreign markets has begun, with approval sought to reduce import duties to zero. Imports will stabilise the market if needed.
Directives were issued to the food directorate and district food controllers for field operations from Thursday. Valid food-grade licences are mandatory for business.
During the meeting, mill owners claimed linked the recent price increases to post-election demand exceeding pre-election normalcy, leading to higher paddy prices.
They defended medium-quality rice prices (Tk 47-47.5) as only slightly above the government's coarse rice purchase rate (Tk 44).
However, they blamed corporate houses for buying rice at inflated prices, impacting overall market rates.
Nirad Baran Saha, president of the Naogaon Paddy and Rice Traders and Merchants Association, said the increase primarily affected Swarna-5 -- a popular Aman variety.
Food Secretary Ismail Hossain refuted claims of prices rising at this time every year, saying they typically occur before the Boro harvest in March-April.
Businessmen requested mill-level price monitoring and accurate data on rice demand and production.
In response to concerns about corporate influence, ACI Rubel Parvez said that corporate rice sales comprise less than 1 per cent of the market, unlikely to control overall prices.
The food secretary assured coordinated efforts to address the situation. He confirmed an adequate public rice buffer of 1.7 million tonnes for safety nets.
Over 98 per cent of paddy has been harvested in the Aman season, according to the Department of Agricultural Extension (DAE). The agriculture ministry eyes 17.1 million tonnes of rice from this season.
On Wednesday, coarse rice was at Tk 52-55, medium at Tk 62-65 and finer varieties at Tk 75-98 per kg in Dhaka retail markets.

[email protected]