The Government of Bangladesh will procure 200,000 metric tonnes of rice produced from domestic the harvest of Aaman starting from December 1.
The move has been made to ease the price of rice in national market just months ahead of the upcoming national elections in January.
A meeting of the Food Planning and Monitoring Committee under the Ministry of Food made the decision on Wednesday.
Food Minister Ramesh Chandra Sen briefed the media after the meeting.
The procurement will continue until February 28 and might be extended if the price of this essential commodity does not come down on the market, he said.
The rice will be purchased at Tk30 per kilogram. Last year the rate was Tk29 per kilogram.
The Aaman crop this season had an approximate surplus production of 200,000MT from the targeted 12.9m metric tonnes.
Those present in the meeting were the food minister, Finance Minister AMA Muhith, Agriculture Minister Matia Chowdhury and Commerce Minister GM Quader.