Staff Reporter:
Finance Adviser Dr Salehuddin Ahmed yesterday said that the market has shown partial stabilization following recent decisions to permit rice imports.
“The government’s recent initiative to import non-Basmati rice aims to stabilize prices,” he said.
The finance adviser was responding to the queries of reporters after chairing a meeting of the Advisers Council Committee on Government Purchase held at the Cabinet Division Conference Room at Bangla-desh Secretariat yesterday.
He, however, said the government remains cautious, as early signs of price escalation to some extent have reappeared. “To prevent instability, the government has approved a new proposal to import an ad-ditional volume of non-Basmati rice,”
He went on saying, “We want to ensure that rice prices do not rise further. For that reason, we have de-cided to import more non-Basmati rice. This is important for maintaining stability,” he said.
The adviser noted that while the local administration, including deputy commissioners and upazila-level officials, are tasked with monitoring market activities, the effectiveness of such monitoring is limited when influential traders act collectively or manipulate the market.
He pointed out that Bangladesh often experiences sudden surges in prices of essential commodities, even when there is no genuine shortage. “In many countries, prices do not rise this way. There are valid eco-nomic reasons behind price changes abroad. Here, we often see enough stock available in the market, yet prices abruptly jump in certain locations. This indicates coordinated action among sections of traders.”
He explained that although the month of Agrahayan-associated with the seasonal availability of newly harvested paddy-has just passed, rice prices have not eased to the extent normally expected.
Dr Salehuddin reiterated that business leaders also bear responsibility and must act with integrity. “Our traders must be more responsible. Without ethical discipline among business groups, no regulatory sys-tem can function properly.”
He said that the continued upward pressure on rice prices, even after the completion of the traditional harvesting period, is rooted not only in supply-side issues but also in weaknesses in market distribution and monitoring that cannot be fully addressed by the civil administration alone.
When asked if the price surge was the result of a syndicate, Dr Salehuddin noted that the situation was more complex than a single factor and involved “behavioural dynamics” within the supply chain.
According to him, rice prices depend primarily on supply, but the distribution network plays an equally important role.
“Rice prices are not determined only by how much paddy is produced. Distribution channels-mainly the wholesale and retail stages-have a tremendous influence on how the price behaves in the market,” he said.
Officials present at the meeting also noted that rice import decisions are being reviewed regularly in light of global prices, domestic stock levels and trends in mill-gate supply. They said the government is prepared to take further measures if required to prevent volatility during the ongoing season.
For now, they said, the government is banking on timely imports and stricter monitoring to navigate the challenging early-winter market.
