The government has initiated the import of 100,000 tonnes of rice to top up the country's food reserves, half of which will be sourced from neighbouring Myanmar under a government-to-government (G2G) arrangement.
The decision was approved at a meeting of the Cabinet Committee on Government Purchase, chaired virtually by Economic Adviser Saleuddin Ahmed in Dhaka today.
Under the G2G arrangement, 50,000 tonnes of rice will be imported from the Myanmar Rice Federation at $376.50 per tonne, while the remaining 50,000 tonnes will be procured through international tender from Dubai-based M/S Credent One FZCO at $355.99 per tonne.
Since the beginning of the current fiscal year, rice distribution -- particularly under the Food Friendly Programme -- has increased significantly, leading to a sharp decline in public food stock by nearly 700,000 tonnes over a three-month period.
As of October 21, the combined stock of rice and wheat stood at 1.46 million tonnes, down from a record high of 2.15 million tonnes on August 7.
Between July 1 and October 16 of the current fiscal year, rice distribution under the Food Friendly Programme nearly doubled year-on-year, with 413,000 tonnes sold at subsidised rates to low-income households, compared to 232,000 tonnes during the same period last year.
In total, around one million tonnes of rice and wheat have been distributed through various government programmes during this period, up from 839,000 tonnes in the corresponding period of the previous fiscal year.
Despite higher distribution, government imports of rice and wheat have remained low. As of October 5, only 50,000 tonnes of rice had been imported in the current fiscal year, with no wheat imports recorded so far.
In the previous fiscal year, the government imported a total of 1.3 million tonnes of rice and wheat, including 835,000 tonnes of rice.
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