In the upcoming fiscal year 2024-25, the government plans to increase funds for food grain imports by 34%, allocating Tk3,862 crore for rice imports and Tk2,834 crore for wheat imports, alongside reducing domestic procurement allocation by nearly 18%. The budget for domestic rice procurement decreases to Tk7,441 crore, while for wheat, it drops to Tk36 crore. Despite good domestic production, these allocations serve as precautionary measures due to a 20% global food production decrease and rising dollar exchange rates. Additionally, the government aims to procure 5 lakh tonnes of paddy at Tk32/kg and 11 lakh tonnes of boiled rice at Tk45/kg during the boro season, projecting a total of 3.20 crore tonnes of boro paddy production. Management costs for food procurement are expected to decrease, with Tk1,245 crore allocated. Open market sales (OMS) budget increases to Tk5,316 crore, facilitating the sale of rice and flour at low prices. Smart OMS cards are introduced, aiming to issue 6000 initially and 15,000 in phases. Economists emphasize prioritizing food security initiatives, advocating increased stockpiling and rural outreach.
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