Cabinet approves 0.25mt rice import from Vietnam

The Financial Express (Bangladesh)

Bangladesh, June 15 -- The government will import 0.25 million tonnes of rice from Vietnam to replenish its stock amid a spike in the main staple prices.

Of the total import, 50,000 tonnes will be parboiled rice and 0.2 million tonnes non-boiled rice.

The cabinet committee on public procurement gave approval for the rice import in a meeting held at the Bangladesh Secretariat Wednesday with finance minister AMA Muhith in the chair.

Briefing journalists after the meeting additional secretary of the cabinet division Mustafizur Rahman said the procurement will be "on government-to-government basis".

He said the meeting also gave approval for 15 more procurement proposals.

According to him each tonne of non-boiled rice will cost US$470 while per-tonne parboiled rice $430.

According to food ministry statistics country's food-grain stock in government silos stood at 0.49 million tonnes at the beginning of this week. Of the total food stock, some 0.19 million tonnes are rice and 0.30 million tonnes wheat.

The data also show that total import of food-grains in the current fiscal year stood at 5.45 million tonnes until June 11. Of the total, private sector imported some 5.05 million tonnes, while the rest 0.40 million tonnes were imported by the government.

Price of coarse rice, mainly consumed by middle-and lower-income group of people, went up significantly in the recent months.

A kilogram of coarse rice, according to the state-run Trading Corporation of Bangladesh (TCB), sold between Tk 46 and Tk 48 Wednesday in the city markets, up by a record 46.88 per cent compared to its price a year back.

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