Govt moves to buy 2.2 lakh tonnes of US wheat 

The government has moved to purchase 2.2 lakh tonnes of wheat from the United States, aiming to reduce the trade deficit and secure a stable supply of the grain.

The Ministry of Food is scheduled to present the purchase proposal under a Government-to-Government (G2G) agreement at a meeting of the advisory committee on economic affairs at 3pm today (23 July).

If approved, the matter will then be placed before the advisory committee on government purchases later today.

A senior official of the Ministry of Food, speaking on condition of anonymity, said the decision was part of a broader initiative to lower the reciprocal tariff imposed by the United States by addressing the trade imbalance between the two countries.

The Ministry of Food signed a Memorandum of Understanding (MoU) with US Wheat Associates on Sunday (20 July).

According to the MoU, Bangladesh will purchase 7 lakh tonnes of wheat annually from the United States at a competitive price for the next five years.

Sources at the ministry said no wheat was imported from the US in the last fiscal year, either by the government or the private sector.

Over the past 22 years, Bangladesh has imported just over 22 lakh tonnes of wheat from the United States, with more than 17 lakh tonnes brought in by private firms.

The highest volume of wheat imported from the US in a single fiscal year was 4.5 lakh tonnes in 2019–20, mostly by private entities such as City Group, Meghna Group of Industries, and Nabil Group. The last government import of US wheat took place in 2017.

The upcoming procurement will be carried out under Section 68(1) of the Public Procurement Act, 2006, and Rule 76(2) of the Public Procurement Rules, 2008.