Photo: Collected-
Metropolis Desk-
Due to the termination of the Ukraine grain agreement and the suspension of India’s rice and wheat exports, Bangladesh faces a challenging scenario while attempting to meet its demand for food grain.
To prevent a food catastrophe, the government must act right away to discover alternate supplies. Due to banks’ unwillingness to grant letters of credit for imports from the severely sanctioned country, obtaining wheat from Russia continues to be difficult.
Rice prices are rising in Vietnam and Thailand as a result of the El Nino climate trend in Latin America, which is affecting global commodities supplies.
The acquisition of 5 lakh tonnes of rice and 6 lakh tonnes of wheat for import on a G2G (government to government) basis and through open tenders has been authorized by the government.
Stakeholders caution the government that it may find it challenging to import rice through open bids as there are still just three sources: Thailand, Vietnam, and Myanmar.
Additionally, the government is attempting to boost imports from Bulgaria, Romania, and Brazil. Russian and Ukrainian wheat sold for Tk1,600 per maund at wholesale, while Canadian wheat cost Tk2,000.
