Commerce Adviser Sheikh Bashir Uddin on Monday stressed the urgent need for a national food security policy, calling it a top priority for Bangladesh.
"We need to understand our responsibilities and shape our actions accordingly," he said while addressing a session on “Food Markets, Supply, and Local Capacity” during the “Agriculture, Food Security and Living Nature Conference 2025” organized by the Bonik Barta in the capital.
Speaking as chief guest, the adviser stressed the importance of a collaborative approach involving the country's brightest minds to formulate an effective food policy.
"If we don't ensure food security, we could face dire consequences," he warned, adding, "There must be significant investment in this area."
"If the food market is valued at Tk30,000 crore, we must clearly identify the corresponding investments and ensure that appropriate funding follows," he noted.
He put emphasis on ensuring fair trade, stabilization of market and creating buffer zone in order to supplement the government efforts towards ensuring food security as well as smooth trade and commerce operations in the country.
The adviser also pointed out that agriculture is not limited to food production alone-it also includes other sectors like floriculture and animal feed.
He proposed developing an inflation index based on 17 essential commodities to effectively monitor and regulate the market.
Highlighting the critical role of data, he said the lack of accurate and reliable statistics remains a major barrier to informed decision-making.
He cited last year's potato production figures as an example, noting that despite official claims of over 10 million tonnes of production, prices surged over Tk90 per kilogram.
"Many figures fail to align because the available statistics are flawed," he said, stressing the need to fix the country's data systems.
He said hoarding must be justified by public or private sector to stop price manipulation of essentials, mentioning egg hoarding and artificial price escalation before recent Ramadan.
Reflecting on the fiscal practices of the previous administration under the Awami League, he added, "Spending was celebrated as an achievement. The qualification standard was based on how much one could spend."
Chairman and Managing Director of Meghna Group of Industries Mostafa Kamal said the government should develop large-scale storage capacity to ensure food security during times of need.
Managing Director of Kazi Farms Kazi Zahedul Hasan urged the commerce adviser not to fix prices of poultry prices, but rather to allow the market to operate on the basis of competition.
He also alleged that poultry businessmen are facing harassment.
Director of Group Corporate and Legal Affairs of Quality Feeds Safir Rahman emphasized the importance of ensuring not only food security but also nutrition security for building a healthy nation.
Managing Director of ACI Logistics Ltd (Shwapno) Sabbir Hasan Nasir said consumer confidence index has been improving in recent months, a optimistic sign for commodity market and inflation.
Chief Operating Officer of Square Food & Beverage Ltd. Parvez Saiful Islam urged the government to build storage capacity for small traders.
Bonik Barta Editor and Publisher Dewan Hanif Mahmud moderated the session.
