Rice prices soaring even in Aman season

Rice prices are increasing uncontrollably even during the Aman season when the government has also announced to withdrawal of customs duty on rice import. This market volatility has also put traders in trouble. In the last two weeks, the price of rice has increased by Tk200-250 per bag. As a result, the price of Long-grain rice at the retail level has increased by Tk3 to 5 per kg and the price of medium-grain rice by Tk2 to 3. Corporate institutions have held paddy hoarding responsible for the situation while ordinary buyers and sellers have called this abnormal increase in rice prices during the Aman harvesting season mysterious.

When contacted, the authenticity of duty-free rice imports has been confirmed from Bhomra Land Port in Satkhira, Benapole Land Port in Jessore, and the National Board of Revenue. In this situation, the government has started the Aman paddy and rice procurement activities across the country but has not been getting the expected response. Farmers say that rice is being sold in the retail market at a higher price than the government-set price. In this regard, rice traders have blamed the syndicate of the previous government, which is still active, and government officials are giving excuses for low production. On the other hand, traders claimed that the rice crisis hit the market due to the stockpiling of rice by corporate institutions and the price has increased.

Amid the continuous increase in rice prices for two weeks, a similar picture was seen on Monday (December 16) after observing various places and land ports of the country. Almost identical information was found from the capital Dhaka, Dinajpur, which is known as the paddy hub of the country, Kushtia, a major rice hub, the port city of Chittagong, and Satkhira. Visiting different markets, it was found that Katari Najir is being sold at Tk76, Jirashail at Tk73, Nazirshail at Tk80, Miniket atop at Tk68, Miniket boiled at Tk61 and Swarna at Tk56 in the market.

However, Katari Nazir was being sold at Tk70 per kg, Jirashail at Tk65, Nazirshail at Tk76, Miniket atop at Tk64, Miniket boiled at Tk57, Swarna at Tk53 and Guti Swarna at Tk49 per kg last Friday.

On the other hand, visiting different rice markets in Dhaka on Monday, it was found that the price of rice has increased by Tk3 per kg compared to the last week. Depending on the quality, Miniket rice is being sold at Tk72-80 per kg, new BR Atash Rice at Tk55-60, old BR Atash Rice at Tk60-65, and Nazirshail at Tk76-85 in those markets.

Meanwhile, the government has set the price of rice at Tk47 per kg in Kushtia and paddy at Tk34. However, there has been no interest in storing paddy in government warehouses among farmers and traders in Kushtia. The target for the current season in Kushtia is to collect 19,100 metric tonnes of parboiled rice, 1,600 metric tonnes of atop, and 6,700 metric tonnes of paddy. However, even though the government has set the price of rice at Tk47 per kg, the cost is over Tk52. Kushtia traders and mill owners said that there will be a deficit of around Tk5.

Of this, about 35 percent of the country's total rice demand is supplied from Dinajpur, known as the paddy hub. Traders at NA Market in Bahadur Bazar, the district's main rice hub, said on Saturday (December 14) that the price of rice has suddenly increased abnormally. In a week, the price of BR-28 rice has increased from Tk60 per kg to Tk65, Miniket rice has increased from Tk68 per kg to Tk74 per kg, depending on the type, and Guti Swarna has increased from Tk50 per kg to Tk54. In addition, Katari Nazir boiled is being sold at Tk110, Nazirshail at Tk85. That is, in a week, the price of rice has increased from Tk4 to 5 per kg, and the price of a 50 kg bag has increased from Tk200 to Tk250. However, although the price of short-grain rice has increased significantly, the price of fine rice has increased slightly in comparison.

Meanwhile, 3,320 metric tonnes of rice have been imported from India through the Benapole Land Port in Jessore in the 25 days since the government announced the withdrawal of customs duty. However, during this period, approval was given to import 392,000 metric tonnes of rice. Although the last day of import was Thursday (December 12), the target was not met. In addition, 35,043 tonnes of rice have been imported from India in 29 days through Bhomra Land Port in Satkhira.

However, although the rice was brought duty-free, traders at Sultanpur Boro Bazar, a large market in Satkhira district headquarters, said that they are selling fine basmati rice at Tk75 to Tk78 per kg, fine Atash variety rice at Tk58 to Tk59 per kg, and short-grain rice at Tk48 to Tk50. In addition, imported Swarna and Jamaibabu varieties of rice are being sold at Tk50 per kg. However, traders said that the import of Indian rice has not had any positive impact on the domestic rice market.

On the other hand, it was found on Monday (December 16) that the prices of all types of rice in the market have increased by up to Tk4 per kg in the past week. Miniket (thin) rice is being sold at Tk70 to Tk74, Basmati rice at Tk92, Kajallata at Tk70, Aatash (thick) rice at Tk58, and Swarna rice at Tk54 per kg. That is, almost all types of rice have increased by Tk4 to 5. Apart from this, the price of all types of rice has also increased by Tk2 per kg in Khajanagar Millgate in Kushtia, which is known nationwide as the second largest and most preferred place for Miniket rice by the middle and upper classes. The price of rice has increased at least twice in a week at this place.