Dhaka, Bangladesh (BBN)-Bangladesh government will import 200,000 tons of rice in the fiscal year 2014-15 to replenish government rice reserves and ensure food security.
In the ongoing fiscal year 2013-14, Bangladesh government has imported only 3,060 tons of rice as on June 2, 2014, according to data from the Food Ministry, reports Oryza.
However, 371,500 tons of rice has been imported by the private sector so far in FY 2013-14 mainly due to lower international rice prices relative to domestic prices.
According to Bangladesh's Directorate General of Food (DGF), the government is planning to procure a total of 1.5 million tons of rice locally during FY 2014-15.
Bangladesh government rice stocks stood at 638,020 tons as on June 2, 2014, up about 4 percent from about 611,800 tons during the same period last year.
The current target for rice imports and procurement may be changed depending on food situation, said the Head of DGF.
UN’s Food and Agriculture Organization (FAO) and USDA estimate Bangladesh to import 400,000 tons (including government and private sector) in 2014.
BBN/AS-05June14-2:20pm (BST)