Dhaka, Jan 08 (V7N)— Due to untimely floods, rice production in the country has significantly decreased, necessitating the import of rice to stabilise the market, said Ali Imam Majumdar, food advisor to the interim government, during a press briefing on Wednesday.

Unlike last year, when no rice imports were required, the floods have led to a shortage. Despite the withdrawal of customs duties and taxes on imports, rice prices remain high even during the peak season. To combat this, district administrators have been instructed to dismantle hoarding syndicates to stabilise prices.

The government has finalised the import of 250,000 tons of rice through internal open tenders and 100,000 tons from Myanmar through government-to-government (G2G) agreements. Negotiations are ongoing to procure an additional 50,000 tons from Pakistan. In January alone, 175,000 tons of rice are expected to arrive, including 100,000 tons from Myanmar and 75,000 tons via open tenders. Discussions are also underway to import rice from India under G2G agreements.

Ali Imam Majumdar expressed optimism that the influx of imported rice would alleviate market pressure and reduce prices. “When government warehouse stocks increase, the carrying capacity of the Open Market Sales (OMS) programme rises, reducing market demand and stabilising prices,” he said.

He assured that the government has eliminated all duties and taxes on rice imports to minimise costs for consumers.

The food advisor highlighted the challenges of depoliticising the administration, which has been affected by partisanship over the last 15 years. “The system takes time to restore to normalcy, but public administration is progressing well,” he noted.

Despite the challenges, Majumdar reassured that the government’s stock of rice and wheat is sufficient. Currently, there are over 1.2 million tons of rice and wheat in stock, with the overall rice supply exceeding 8 million tons.

He acknowledged the ongoing difficulties but emphasised that the situation is under control. “The season of demands has created opportunities for some, but the government is prepared to address crises as they arise,” he said.

The government remains committed to ensuring food security and stabilising the market amid these challenges.

END/MSS/AJ