The government will import another 9 lakh tonnes of rice to keep the market stable as well as ensure food security.
The approval in principle came from the Cabinet Committee on Economic Affairs (CCEA) held virtually with Finance Minister AHM Mustafa Kamal in the chair on Wednesday.
The finance minister also chaired the Cabinet Committee meeting on Government Purchase (CCGP) on the day.
Briefing reporters virtually after the meetings, Md Abdul Barik, additional secretary of the cabinet division, said the CCEA approved in principle the proposal to buy another 9 lakh tonnes of rice.
He said 4 lakh tonnes of rice will be purchased through direct purchase method and the remaining 5 lakh tonnes, through open tender. The tender period has been fixed at 15 days instead of 42 days to bring rice at the earliest, he added.
Aman production is expected to be disrupted due to drought. In such a reality, the government has taken a large purchase plan in advance so that there is no shortage of rice in the country.
Earlier, the government decided to import three and a half lakh tonnes of rice from India and Myanmar, which has already been approved by the purchase committee. Apart from this, the process of importing 5 lakh tonnes of wheat from Russia has started.Now the government has given policy approval to import another 9 lakh tonnes of rice.
The supply of rice in the market is normal but the price is still high. The government has taken various initiatives including reduction of duty to increase the supply of rice in the domestic market so that the consumers could buy and eat rice at an affordable price.
Imports have been made easier at the private level.
As a result of these initiatives, the government expects that the supply of rice will increase in the market and the price of rice will come down soon.
On the other hand, the CCGP approved separate proposals for procuring some 90,000 metric ton of fertilizer, 15,000 metric tonnes of lentils and 2.25 crore litres of soybean oil to meet the growing demand of the country.
The Bangladesh Agricultural Development Corporation (BADC) would procure some 50,000 metric tons of MOP fertilizer from Canadian Commercial Corporation under the 3rd lot for around Tk 386.20 crore.
The BADC will procure another 40,000 metric tons of DAP fertilizer from OCP, SA, Morocco for around Tk 296.94 crore.
In three separate proposals, Barik said the state-run Trading Corporation of Bangladesh (TCB) would procure some 15,000 metric tons of lentils for a per KG lentil costing Tk 110. The TCB will procure 5,000 metric tonnes of lentil from Blue Sky Enterprise Dhaka for Tk 55 crore, 5,000 metric tons of lentil from Masud & Brothers Chattogram for Tk 55 crore and another consignment of 5,000 metric tons of lentil from Ruby Food Products Ltd Chattogram for around Tk 55 crore.
Meanwhile, TCB in separate proposals would also procure some 2.25 crore litres of soybean oil from different sources of which the state-run corporation would procure some 30 lakh litres of soybean oil under DPM method from Bashundhara Multi Food Products Ltd Dhaka for around Tk 54.90 crore, and 55 lakh litres of soybean oil from City Edible Oil Limited Dhaka under DPM method for around Tk 101.75 crore.
Besides, TCB will procure some 55 lakh litres of soybean oil from Meghna Edible Oil Refinery Ltd Dhaka under DPM method for around Tk 101.75 crore and another 30 lakh litres of pet bottled soybean oil from the same company under open tender method for Tk 54.88 crore where per litre pet bottle would cost Tk 182.95.
The TCB would also procure some 55 lakh litres of soybean oil from Super Oil Refinery Ltd Dhaka under DPM method for around Tk 101.75 crore.