DHAKA: Bangladesh’s state grains company issued a world tender to buy 50,000 tonnes of rice on Monday, its first shopping for tender in three years amid dwindling provides and a surge in costs of the staple grain.
The deadline to submit affords is Nov. 26, with validity as much as Dec. 10. The rice is to be shipped inside 40 days of signing a contract, based on the tender doc and officers on the buying company.
Bangladesh plans to import 300,000 tonnes of rice, a senior meals ministry official mentioned, amid a possible shortfall in output after floods destroyed its crop.
Market contributors, nonetheless, mentioned the transfer would hardly have any impression on costs of the grain, which have gone up round 50% since March, amid the coronavirus pandemic that has pushed native costs to report highs as a result of panic shopping for.
“I don’t suppose the federal government will have the ability to tame costs that method. It ought to moderately lower import obligation on rice,” a Dhaka-based dealer mentioned.
In 2019, the federal government raised the rice import obligation to 55% from 28% to help farmers amid widespread protests by growers over a dramatic fall in costs.
“There isn’t any plan to chop import obligation at current. We have to defend our farmers,” Agriculture Minister Abdur Razzak mentioned, including the federal government would improve imports if required.
The rain-fed rice output or Aman crop is anticipated to fall as a lot as 15% this yr, as a result of repeated floods and extreme rainfall, an official on the agriculture ministry mentioned.
A current home rice procurement drive by the federal government fell almost 1 million tonnes in need of the 1.95 million tonne goal.
Bangladesh, the world’s third-biggest rice producer with almost 35 million tonne output a yr, depends on imports to deal with shortages brought on by pure disasters reminiscent of floods or drought.
(Enhancing by David Evans)
Disclaimer: This submit has been auto-published from an company feed with none modifications to the textual content and has not been reviewed by an editor