The government is set to import an additional 50,000 tonnes of rice from India

The interim government has decided to import an additional 50,000 tonnes of rice from India to bolster the country’s food reserves. Finance Adviser Salehuddin Ahmed approved this proposal during a meeting of the government's advisory committee on procurement at the Bangladesh Secretariat today. The food ministry will import the rice through SAEL Agri Commodities Ltd, India, at a cost of $471.6 per tonne.

Earlier, on November 6, the committee had authorized the import of 50,000 tonnes of rice from Indian company Pattabhi Agro Foods Private Limited at $477 per tonne. According to data from the food ministry, as of November 20, the country had 12.36 lakh tonnes of food grains, including 8.08 lakh tonnes of rice.

This move is aimed at addressing the depletion of stocks due to ongoing food distribution programs that are being carried out to meet high demand amid inflation.

The government plans to import a total of 5 lakh tonnes of rice for the 2024-25 fiscal year, using both government-to-government arrangements and open tenders. This amount may increase if market prices rise, according to a food ministry official.

In addition, the government aims to distribute 20.52 lakh tonnes of food grains during the current fiscal year. Of this, 8 lakh tonnes of rice will be procured locally during the ongoing Aman season, with more expected to be sourced during the Boro season early next year. As of November 14, the food ministry had already distributed 9.32 lakh tonnes of rice.

Furthermore, the government has approved separate proposals for the purchase of two LNG cargoes and 2.30 lakh tonnes of fertiliser to meet the growing domestic demand. Each LNG cargo, equivalent to 33.60 lakh MMBtu, will be purchased from Vitol Asia Pte Ltd in Singapore at rates of $14.55 and $14.42 per MMBtu.

The Bangladesh Agricultural Development Corporation (BADC) will also procure 110,000 tonnes of Muriate of Potassium fertiliser from Russia and Canada, with 30,000 tonnes from Russia and 80,000 tonnes from Canada, both priced at $289.75 per tonne.

Additionally, the Bangladesh Chemical Industries Corporation will procure 90,000 tonnes of granular urea fertiliser and 30,000 tonnes of prilled urea fertiliser.

The meeting also approved a proposal to appoint e-Learning and Earning Ltd, Dhaka, as the training provider for a project aimed at training 28,800 youths in freelancing, with an allocation of around Tk 297.16 crore.