Wheat Imports Reached 6.8 Million Tonnes

The National Board of Revenue (NBR) has reduced import taxes on onions and potatoes to address rising prices and boost supply. Effective until November 30, tariffs on onions have been cut to 5 percent and on potatoes to 15 percent. This move aims to make these essential items more affordable.

In Bangladesh, women are increasingly leading a transformation in agriculture, moving from traditional home management roles to managing small and medium-sized commercial farming enterprises. Over the past decade, women's participation in agriculture has surpassed men's, with a 7-percentage-point higher employment rate in this sector, according to official statistics. The Labour Force Survey (LFS) 2022 reveals that 26.2% of women aged 15 and above are involved in agriculture compared to 19.2% of men.

Recent floods in Bangladesh have caused significant agricultural losses estimated at Tk3,346 crore, affecting 1.4 million farmers. The most severe impact was on paddy production, with losses of Tk2,519 crore, and extensive damage to 291,333 hectares of paddy fields and 19,680 hectares of Aman paddy seedbeds.

In the last two months, importers secured permits to bring 280,000 tons of onions, mainly from India, but due to rising prices in India, imports from China, Pakistan, Egypt, and Thailand have increased. Chittagong seaport cleared 5,588 tons of onions during this period. Despite the surge in imports, retail onion prices remain above Tk 120 per kg. The country uses around 3 million tons of onions annually, with local production at 2.3 million tons; the deficit of 700,000 tons is typically met through imports.

The ongoing flood in Noakhali has devastated 85,379 fish farms, resulting in losses of approximately Tk 576.50 crore. The affected areas include Noakhali Sadar, Begumganj, Kabirhat, Companiganj, Subarnachar, Chatkhil, and Sonaimuri, with Begumganj and Companiganj being the hardest hit. The flood has impacted thousands of fish farmers, including those who had significant investments and expectations for the season.

Recent floods in Bangladesh are expected to reduce rice acreage and production, particularly affecting Aus and Aman seasons. The US Department of Agriculture (USDA) forecasts rice acreage will fall to 11.5 million hectares for the 2024-25 marketing year, down 3.4 percent from the previous estimate of 11.9 million hectares. This could lead to a 2.4 percent drop in production to 36.8 million tonnes.