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Govt plans exporting 1.0 million tonnes of surplus rice

by BIZDATA INSIGHTS
May 8, 2019
in Agriculture & Livestock
0
Govt plans exporting 1.0 million tonnes of surplus rice

Government is planning to enter the rice export market through exporting 1 million tonnes of Boro rice as estimates suggest the country will have enough surplus after meeting domestic demand. That will be a bold step as Bangladesh is known as producer and importer of Rice till date.

Before deciding on that, discussion to be held with market stakeholders in the next 15 to 20 days after the harvest to be over to determine whether 5 lakh to 10 lakh tonnes of Boro rice can be exported from this year’s harvest.

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It is assumed that, there wont be any shortfall in local demand as every year there is 2 to 2.5 million tonne surplus of Boro rice after the local consumption. Last year, the farmers produced 1.3 million tonne more than target set by govt. However, if there will be any problem which may arise after export, govt. plans to import rice to overcome shortfall.

The Agriculture minister expects there will be an adequate surplus of Boro rice this time as well if the yield is properly managed and harvested before being affected by hailstorm and flood.

The government is also planning to procure 1 million tonnes of boiled Boro rice at Tk 36 per kg this year, which is Tk 2 less than last year. Govt. plans to procure 150,000 tonnes Boro rice at Tk 35 per kg, 150,000 tonnes of Boro crop at Tk 26 per kg and 50,000 tonnes of wheat at Tk 28 per kg from Apr 25 to Aug 31.

Source: Daily Observer, May 08, 2019

Source: bdnews24.com, May 08, 2019

BIZDATA INSIGHTS
Author: BIZDATA INSIGHTS

Tags: BoroRice exportRice Procurement
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