Increased supply of Indian rice cuts wholesale prices by Tk300
Retail prices remain largely unchanged, frustrating consumers
Highlights:
- Prices drop by up to Tk300 per bag in wholesale markets over past two weeks
- Increased imports from India credited for the fall in prices
- Retail prices remain largely unchanged, frustrating consumers
- Govt to import another 50,000 tonnes of rice from India to stabilise the market
The price of rice in the country's markets has started to decline. Over the past two weeks, the wholesale price of almost all varieties of rice has fallen by up to Tk300 per bag. Traders attribute the price drop to an increased supply following a large volume of imports from India.
However, consumers complain that although prices have dropped at the wholesale level, retail prices have not decreased significantly.
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Meanwhile, the government has decided to import an additional 50,000 tonnes of rice from India to stabilise the market.
A visit to the Chaktai and Pahartali markets in Chattogram showed that Miniket steamed rice is currently selling at Tk2,800 per bag, down Tk100 from before. Paijam rice has decreased by Tk200 to Tk2,700, Kataribhog rice by Tk200 to Tk1,700, and Kataribhog atop rice is now selling at Tk3,900 per bag, down Tk150.
Other varieties are selling at the following rates: Miniket atop Tk3,050, Nazirshail Tk2,000, Swarna Tk2,400, Beti atop Tk2,250, and Mota Tk2,150 — each dropping by Tk100–300 depending on quality.
According to the Trading Corporation of Bangladesh (TCB), over the past month, the price of fine rice has fallen by 1.84% and medium-quality rice by 3.70%.
Data from the Directorate of Food show that during the 2024–25 fiscal year, a total of 1.3 million tonnes of rice were imported into the country. Of this, 835,000 tonnes were government imports, and around 470,000 tonnes were private imports. Among government imports, 600,000 tonnes came from India, 100,000 tonnes from Myanmar, 100,000 tonnes from Vietnam, and the remainder from Pakistan. A large portion of private imports also comes from India.
Mohammad Hossain, acting president of the Chattogram Rice Mill Owners' Association, told TBS, "The influx of Indian rice has reduced demand for domestic rice. Previously, a few large groups and mill owners controlled the market, but now anyone can import rice, creating competition."
To maintain this trend in the market, the government has decided to import an additional 50,000 tonnes of rice from India at a cost of Tk2,199 crore, with a per-ton price of $359.77. At the same time, 220,000 tonnes of wheat will be imported from the United States through government-to-government (G2G) arrangements, at $308 per ton.
These proposals were approved at a meeting of the Cabinet Sub-Committee on Government Procurement held at the Secretariat on 8 October. Additionally, for the 2025–26 fiscal year, the government has authorised the import of a total of 400,000 tonnes of rice for emergency state needs.
