Incentives Provided to 44,270 Farmers

The prices of wheat in Bangladesh are on the rise, affecting consumers due to increased US dollar prices and international market trends. Over the past month, rice prices increased by 2% to 5.61%, while wheat prices per kilogram rose by 9.20% to 14.29%.

The Cabinet Committee on Government Purchase in Bangladesh has approved the import of 170,000 tonnes of fertilizers from the United Arab Emirates, Saudi Arabia, and Morocco. The Bangladesh Chemical Industries Corporation (BCIC) received approval to import 30,000 tonnes of bulk granular urea fertilizer from Fertiglobe Distribution Ltd.

The Ministry of Agriculture in Bangladesh is intensifying efforts to ensure food security amidst an economic crisis. Targeting staple crops like rice and wheat, the ministry plans to increase paddy cultivation land by 1.88 lakh hectares, aiming for a rice production goal of 2.23 crore tonnes for the upcoming Boro season.

Poultry farmers in Bangladesh are facing significant losses as the price of each egg at the farm level has dropped by Tk 3 to Tk 3.5 in just one month. The decline followed the Commerce Ministry's decision to allow five firms to import five crore pieces of eggs to increase supply and control prices.

To ensure food security, Bangladesh Bank formed a refinancing fund of Tk 5,000 crore last year to disburse loans at only four percent interest. Many banks are giving large loans from this fund.

Bangladesh and Oman are set to sign two memorandums of understanding (MoUs) in the areas of human resources, refined oil derivatives, and fertilizer export. The announcement was made by the Oman Ambassador during an event in Dhaka celebrating Oman's 53rd National Day.