The Bangladesh government has approved various proposals, such as rice imports, edible oil and lentils, to boost food security and stabilise prices ahead of the holy month of Ramadan. Notably, the approvals were given at a meeting of the Advisers Council Committee on Government Purchase, on Tuesday, December 23 at the Cabinet Division Conference Room at the Secretariat, with Finance Adviser Dr Salehuddin Ahmed presiding. Two proposals from the Ministry of Food to procure a total of 100,000 metric tonnes of rice have been recommended in the meeting.

Rice imports would help sustain public food stocks

Non-basmati parboiled rice imports of 50,000 mt will be done from India through the international open tender method at an estimated cost of Tk 217.53 crore. Meanwhile, another 50,000 mt of white rice will be imported from Pakistan under a government-to-government arrangement at around Tk 241.52 crore. According to officials, the rice imports would help sustain public food stocks and curb market volatility during Ramadan when demand for essentials rises sharply. Interestingly, the Directorate General of Food will implement the procurement to ensure the timely arrival of consignments and boost buffer stocks.

Meeting approved procurement of 4.75 crore litres of edible oil

Furthermore, the meeting also approved the procurement of 4.75 crore litres of edible oil to keep edible oil prices stable. This includes 1 crore litres of refined rice bran oil from local sources and 3.75 crore litres of soybean oil from international sources through direct purchase methods. The Trading Corporation of Bangladesh is expected to distribute the oil through subsidised sales across the country. Additionally, the committee approved the procurement of 10,000 metric tonnes of lentils through the national open tender method at an estimated cost of Tk 72.20 crore. Apart from this, the lentils will be procured in 50-kg bags and distributed through government channels to stabilise the market and support low and middle class income consumers.