Rice prices in city markets have sharply declined over the last two weeks due to increased availability from the ongoing Boro harvest. Medium and coarse variety rice prices have dropped by up to Taka 3 per kilogram and are expected to continue falling for at least the next two months. For instance, retail prices for medium fine quality Miniket rice have decreased from Taka 68 to Taka 66 per kilogram. Wholesale prices for a 50-kg sack of Miniket rice have fallen from Taka 3,500 to Taka 3,215. Similarly, coarse variety BR-28 is now priced at Taka 52 per kilogram, down from Taka 55 previously, with a 50-kg sack costing Taka 2500 compared to Taka 2730-2750 earlier. Farm economists anticipate further price declines as Boro rice contributes significantly to total output, easing supply pressures. However, concerns are raised about rice production in non-haor regions due to prolonged drought affecting yields. Despite these challenges, the Department of Agricultural Extension expects optimal Boro production this year, aiming to achieve a target of 2.22 crore tonnes, building upon the record rice production of 3.91 crore tonnes in FY23.
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