Govt Allows Import of Over 5 Million Pieces of Vannamei Shrimp Seed

Starting December 1, China will grant Bangladesh 100% duty-free market access, aligning with President Xi Jinping's recent pledge for least developed countries. This expansion follows the previous inclusion of 98% of Bangladeshi products in 2022 and 97% in 2020.

Recent floods in southeastern Bangladesh and Mymensingh have caused severe agricultural damage, with around 10.87 lakh tonnes of rice, mainly Aman, lost and total crop losses valued at Tk 4,500 crore. In response, the government is importing 5 lakh tonnes of rice and considering reducing import duties to stabilize prices, which have risen Tk 5-6 per kg.

Bangladesh achieved a record rice production of over 4 crore tonnes in FY 2023-24, thanks to the shift towards high-yielding and hybrid varieties. This eliminated the need for rice imports, unlike the previous year. However, rice prices rose by 7%, fueling concerns over food inflation, which hit 10.65% in FY24.

The Department of Agricultural Marketing (DAM) and USAID's Feed the Future Bangladesh have signed a Memorandum of Understanding (MoU) to enhance agricultural marketing in Bangladesh. This partnership focuses on creating a Plan of Action for the National Agricultural Marketing Policy 2023 to improve market access for farmers and strengthen value chains.

The interim government plans to swiftly implement insurance facilities for fisher families to protect them against natural disasters and accidents, as outlined during the “DC Conference-2024.” Key stakeholders, including the Cabinet Division, Ministry of Fisheries and Livestock, Insurance Development and Regulatory Authority (IDRA), and Sadharan Bima Corporation (SBC), are collaborating on this initiative.

A total of 410 tonnes of hilsa fish have been exported to India through Benapole land port in seven consignments. The exports occurred over several days, with quantities ranging from 19 to 92 tonnes per shipment. The export price is set at $10 per kg, approximately Tk 1,180, based on a long-standing order established years ago.