As the Aman season approaches, the rice market in Bangladesh typically faces instability, often leading to government imports to stabilize prices. However, despite recent flood-related production losses, officials and traders remain optimistic about rice production and stock levels, suggesting that imports may not be needed for the 2024-25 fiscal year. Currently, rice prices are stable, with the Bangladesh Rice Research Institute estimating annual rice demand at around 35 million tonnes, while domestic production exceeds 40 million tonnes, primarily from the Aman crop.
Although floods have damaged approximately 685,000 tonnes of crops, officials, including former Food Secretary Md Ismail Hossain, express confidence that current stock levels are sufficient. The government is prepared to approve imports if necessary after the harvest. As of late September, government warehouses held 1.743 million tonnes of food stock, with rice prices remaining steady over the past two months. Industry leaders advocate prioritizing domestic production to support local farmers and ensure self-sufficiency.
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