Rice market stabilising after import approvals: Salehuddin
Staff Reporter :
Finance Adviser Dr. Salehuddin Ahmed on Monday said the market has begun to show signs of stabilisation following the government’s recent decisions allowing rice imports.
“The initiative to import non-Basmati rice is aimed at easing price pressure,” he told reporters after presiding over a meeting of the Advisers Council Committee on Government Purchase at the Cabinet Division in the Bangladesh Secretariat.
However, Dr. Salehuddin noted that the government is still proceeding cautiously, as early indications of renewed price increases have emerged. “To avert further volatility, we have endorsed an additional proposal for importing more non-Basmati rice,” he said.
“We want to ensure rice prices do not climb any further. For that reason, we have decided to enhance imports. This is essential for maintaining stability in the market,” the adviser added.
He pointed out that although local authorities-including deputy commissioners and upazila-level officials-are responsible for market oversight, their efforts often fall short when powerful traders coordinate or manipulate prices.
Bangladesh frequently experiences abrupt hikes in essential commodity prices even without genuine shortages, he observed. “In many countries, prices don’t rise this way. Abroad, price changes usually have clear economic explanations. Here, even when stocks are sufficient, we still see sudden price spikes in certain areas, indicating coordinated behaviour among segments of traders.”
The adviser said that despite the passing of Agrahayan-a month associated with the arrival of newly harvested paddy-rice prices have not softened as much as they typically do.
Dr. Salehuddin also reminded that ethical business practices are a key part of market discipline. “Traders must act responsibly. Without integrity in business circles, no regulatory framework can operate effectively.”
According to him, the persistent pressure on rice prices, even after the traditional harvesting season, stems not only from supply-related factors but also from inefficiencies in distribution and monitoring-issues that cannot be fully resolved by the civil administration alone.
Asked whether syndicates were behind the price surge, he said the situation was more complex than a single cause and involved “behavioural dynamics” within the supply chain.
He stressed that rice prices are shaped not just by production levels but also by the behaviour of the distribution network. “Wholesale and retail channels significantly influence how prices move in the market,” he noted.
Officials at the meeting said rice import decisions are being reviewed continuously, taking into account global market trends, domestic stock conditions, and mill-gate supply patterns. They added that the government is ready to take additional steps if needed to prevent instability during the current season.
For now, they said, the government is relying on timely imports and tighter monitoring to navigate the challenging early-winter market.