Home » Politics: Bangladesh » >food crisis to go, spike in price to last

>food crisis to go, spike in price to last

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>THE good news is the country at present has no shortage of food grains due to a bumper Boro harvest in progress and a huge import in the recent months. (Click for full report)
But the bad news is food grains will continue to be pricey in the months to come.
According to latest estimates of the food ministry, the demand for rice and wheat in the current fiscal year is 2.60 crore tonnes while their net production is 2.59 crore, meaning deficit is only one lakh tonne.
Organisations in private and public sectors have imported 34.73 lakh tonnes of grains including 21 lakh tonnes of rice between July 1 and April 24. This is 91 percent up on the corresponding period last year.
During the same period, importers have opened letters of credit (L/C) to import 50.56 lakh more tonnes of food grains including 33 lakh tonnes of rice.
Back-to-back floods and Cyclone Sidr last year damaged at least 18 lakh metric tons of standing cereal crops, posing a serious threat to the country’s food security.
With the net annual demand estimated to be 2.60 crore tonnes, both the government and private sector focused on importing food grains to recover the deficit.

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