Rice market stable, stocks remain adequate

Commerce Minister Khandakar Abdul Muktadir on Wednesday assured consumers that rice prices and supplies remain stable despite reports of recent increases, saying public food grain stocks are at comfortable levels.
He also warned that the authorities stand ready to intervene if market conditions require.
The minister made the remarks while speaking to reporters at a press conference held at the Bangladesh Secretariat, following visits to wholesale and retail markets in the capital.
State Minister for Food Md Abdul Bari and Commerce Secretary Md Ataur Rahman Khan, ndc, were also present at the briefing.
Referring to a newspaper report on rising rice prices, the commerce minister said he and the state minister for food had visited rice markets in Dhaka to assess the situation.
"There has been no significant change in rice prices at wholesale warehouses or retail outlets," he said.
According to the minister, some traders reported that the prices of certain rice varieties had increased by Tk 1.0 to Tk 1.5 per kilogram after Eid. However, he said this did not indicate any major price hike in the market.
He also noted that some rice mill owners had attempted to raise prices by Tk 100 per sack.
The minister said price differences among various rice varieties are common, with gaps typically ranging from Tk 2.0 to Tk 4.0 per kilogram. New and old rice also command different prices.
"It is normal for rice prices to fluctuate by Tk 1.0 to Tk 2.0," he said.
Commenting on the broader essentials market, Mr Muktadir said the supply of edible oil and other key commodities remained adequate and stable.
He added that rice and wheat stocks held in government warehouses were at satisfactory levels.
"The government will intervene in the rice market immediately if additional supplies are needed in the future," he said.
Replying to a question, the minister said the food market was currently more stable than it had been over the past few months and during the corresponding period last year.
He added that the government was closely monitoring the market for essential commodities.
State Minister for Food Md Abdul Bari said the country's rice supply situation remained normal and active, with around 2.0 million tonnes of food grains currently stored in government warehouses.
"There is no shortage or crisis in the rice supply chain," he said.

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