Rome, Italy (BBN)-The Food and Agriculture Organisation (FAO) has estimated that in 2014 Bangladesh's rice imports will rise nearly triple, that means about 400,000 tons, due to lower prices in international market.
Most of the imports are by the private sector, reports oryza.com quoting FAO.
The UN’s food agency estimates that 2014 aggregate paddy rice production from the three seasons – Aus, Aman and Boro – at 52 million tons (around 34.84 million tons basis milled), slightly above an estimated 2013 paddy rice production of 51.5 million tons (around 34.5 million tons basis milled) due to increased planted area backed by favorable weather conditions, and government support to the rice sector, in the form of seed, fertiliser and fuel subsidies.
On average, Aus, Aman and Boro seasons account for 7 percent, 38 percent and 55 percent respectively of annual paddy production.
The UN agency reports that planting for 2014 Aus season rice crop, which accounts for 7 percent of annual paddy production, is almost complete and expects the season's output at 3.6 million tons (around 2.4 million tons basis milled), up about 3 percent from about 3.5 million tons produced last year.
It also reports that paddy rice production from 2013-14 Boro crop, which accounts for about 55 percent of total annual paddy production, at record 28.5 million tons (around 19 million tons basis milled), slightly above bumper production in 2012.
The FAO reports that domestic rice prices were stable in April and expects prices to decline in the coming months with increased supply from 2013-14 Boro crop harvests.
According to data from Bangladesh's Ministry of Food, Bangladesh imported 374,560 tons of rice (371,500 tons by private sector and 3,060 tons by the government) as on May 27, 2014 during the 2013-14 fiscal year (July 2013 – June 2014). Bangladesh imported 28,930 tons (25,270 tons by private sector and 3,660 tons by the government) during the 2012-13 fiscal.
USDA estimates MY 2013-14 (July 2013 – June 2014) Bangladesh paddy rice production at 51.89 million tons (around 34.59 million tons basis milled), up about 2% from around 50.74 million tons (around 33.82 million tons basis milled).
It estimates MY 2014-15 paddy rice production to slightly increase to 52.2 million tons (around 34.8 million tons basis milled) over MY 2013-14.
It estimates Bangladesh to import 400,000 tons of rice in MY 2013-14, up about 11.5 times from a mere 35 million tons imported in MY 2012-13.
However, it expects Bangladesh’s imports to decline by about 75 percent to 100,000 tons in FY 2014-15.
BBN/ANS-30May14-11:00am (BST)
