Commerce Adviser Sk Bashir Uddin on Tuesday said that although rice prices have risen slightly, they are expected to decrease soon.
Addressing rice importers and traders, he assured them that the government is working to make trade easier and will ensure all practical support.
He made these remarks while presiding over a meeting at the conference room of the Ministry of Commerce on the stock and import situation of rice.
Emphasizing the government's commitment to solving traders' issues, the commerce adviser said: “We have noticed a significant price gap between wholesale and retail markets. We want to identify the root cause and resolve it to ensure a stable market environment.”
The adviser also mentioned that prices of most goods have decreased.
While rice prices have risen slightly, he expressed hope for an imminent reduction.
Ali Imam Majumder, Adviser to the Ministry of Food, added that government food reserves now exceed 1.2 million tons.
This month, 100,000 tons of rice will be imported from Myanmar, and efforts are ongoing to procure rice from multiple sources on a government-to-government (G2G) basis.
He said that the government is diversifying its procurement sources instead of relying on a single supplier.
He also highlighted the government’s ongoing programs, such as providing rice to low-income families through Trading Corporation of Bangladesh (TCB).
Under the food-friendly program, 50,000 families are receiving 30kg of rice each, along with the regular Open Market Sale (OMS) activities under the Ministry of Food.
Dr Md Habibur Rahman, Deputy Governor of Bangladesh Bank, assured that banks have been instructed to provide comprehensive support for opening LCs.
He said that any negligence in opening LCs for essential food items would be investigated.
He also expressed optimism, citing an increase in remittance inflows, which would alleviate challenges in opening LCs.