BM Desk : According to data that is currently available, the cost of importing food grains into the nation is expected to be significantly higher than the growth in its import volume in the previous fiscal year.
The Ministry of Food estimates that during the fiscal year (FY) 2024–2025, government and commercial merchants will import around 7.0 million tons of food grain.
In FY24, a total of 6.65 million tons of wheat were imported, but virtually no rice was imported.
According to data from the Food Ministry and Bangladesh Bank, despite a 1.0 million-ton drop in wheat imports in FY25, rice imports helped sustain the nation’s overall growth in food grain imports. Market watchers observed that although there was a good supply of food grains, like wheat and rice, in the market, consumers did not benefit much from them because their prices remained high all year long.
After devastating floods struck large paddy crops in coastal regions in FY24, rice imports began in FY25.
According to a food ministry official, 1.25 million tonnes of rice will be imported during the current fiscal year. Following a record import of 6.62 million tonnes in FY24, wheat imports reached 5.5 million tonnes by mid-June, with expectations to hit 5.75 million tonnes by the end of FY25.
Officials noted that rice imports increased due to rising prices of the staple after the flash floods in coastal regions during July-August, despite good harvests of both Aman and Boro crops. Md Moniruzzaman, the Director of the Directorate General of Food (DGoF), stated that improved domestic production, consistent imports, and heightened domestic procurement have contributed to maintaining the food grain supply this fiscal year. He mentioned that the current food grain stock held by the government is 1.6 million tonnes, which is anticipated to grow further by August following the completion of ongoing domestic procurement efforts.
An official from TK Group indicated that many traders had leftover stocks from the previous financial year (FY’24), which alleviated some of the import pressure.
However, despite global food prices remaining relatively stable throughout the year, they are expected to become volatile due to the ongoing conflict in the Middle East.
Data from Bangladesh Bank revealed that food grain import costs increased by 16 percent until April of FY25, totaling $1.91 billion.
The value of rice imports surged to $605 million, while wheat imports decreased by 20 percent to $1.31 billion.
According to consumers’ rights groups and market observers, local consumers have seen little benefit from the higher imports and increased domestic food grain production.
Even when wheat prices dropped 12–15 percent globally, there was no sign of a price decline in the domestic market, said SM Nazer Hossain, vice president of the Consumers Association of Bangladesh.While the price of maida flour was Tk 65-70/kg, the price of atta flour, or course flour, stayed constant at Tk 45-60/kg.
However, in March and April, finer types of rice ranged in price from Tk 90 to Tk 100 per kg, while marginal people had to pay Tk 55 to Tk 70 per kg for coarse and medium rice.
During the peak Boro harvesting season, rice prices began to rise once more, despite a declining trend in May and mid-June, he said.
