Food Adviser Ali Imam Majumdar has said that rice prices will likely to decline in the coming weeks with new Aman supplies set to hit the markets.

"The harvesting of Aman paddy has already started in the country`s northern region. There has been a bumper yield of Aman this year…. Our Aman collection campaign will start from next Sunday," said the adviser on Thursday.

He was briefing reporters after a meeting at the Directorate General of Food office in the city.
Top officials of the food directorate including its regional directors were present in the meeting.

The government has set a target to collect 10 lakh metric tonnes (MT) of Aman rice and paddy this year. The government has increased its purchasing prices by Tk 3 per kg this year to better support the farmers amid elevated production costs.

The food adviser said more rice supplies are in the import pipeline as LCs have already been opened to import 1.5 lakh tonne rice.

He said the rice prices have remained stable for a week as the prices did not go high anymore.

Food Director General Abdul Khaleque said the target was set to collect 5.5 lakh tonne Aman rice, 3.5 lakh tonne Aman paddy and one lakh-tonne atap rice during this Aman season.

The price of rice per kg has been increased to Tk 47 from Tk 44, while that of paddy to Tk 33 from Tk 30 and Atap rice to Tk 46 from Tk 42, he said.

Responding to a question, the food adviser said though Bangladesh is nearer to being self-sufficient in rice production as sometimes, the country doesn`t need to import rice.

The improved domestic production scenario had prompted authorities to impose high tariffs on rice imports at that time.

However, with unprecedented floods and unusual rain patterns significantly hurting yields, this year the import tariffs have been reduced to zero. The agricultural ministry is predicting there would be a deficit of 6-7 lakh tonne rice this year, he said.

Food Secretary Masudul Hasan said 134 businessmen have so far been permitted to import 10.52 lakh tonne rice.