DHAKA: As food prices rise, Bangladesh is increasing its imports of rice after flooding destroyed an estimated 1.1 million metric tonnes of the main grain, according to figures from the agriculture ministry.
At least 75 people were killed and millions were impacted by the country’s two big waves of flooding in August and October, which were caused by high monsoon rains and torrential upstream runoff. The eastern and northern regions saw the most severe crop loss.
According to the agriculture ministry, a significant amount of rice has been lost as a result of this year’s flooding. According to a food ministry official, the government is responding swiftly by importing 500,000 tonnes of rice and is anticipated to shortly allow private sector imports.
Food prices have risen by about 20% in recent months, and the interim government, which came to power in August after previous Prime Minister Sheikh Hasina fled to India due to deadly riots, has been finding it difficult to keep them under control.
Bangladesh’s increased imports may boost shipments from India, the world’s largest rice exporter, which last month reduced the export duty on parboiled rice to 10%.
