Rice prices in Bangladesh will not drop below Tk 40 a kg, commerce minister says

The commerce minister has said it will be ‘unrealistic’ to expect the rice prices to fall below Tk 40 per kilogram if the farmers’ interests were to be protected.

Fielding questions at a press briefing at the Secretariat in Dhaka on Thursday, Tofail Ahmed said everyone should keep in mind that the needs of rice growers also need to be taken care of.

“When rice prices dropped, journalists wrote that the farmers were facing losses. We must give importance to our farmers. We will be harming ourselves in the long run if they lose interest to cultivate rice,” the minister said.

“My personal opinion is that the rice prices will never drop below Tk 40 (a kg). And (rice price below Tk 40 per kg) is unrealistic.

“So the (minimum) price of rice will be around Tk 40 as it is now,” he added.

According to Tofail, the government and traders have imported over 2.5 million tonnes of the staple until Jan 23 of the current fiscal year.

The ministry called the presser to brief the media about the Bangladesh Tea Expo 2018.

The Tea Board will organise the expo at International Convention City Bashundhara from Feb 18 to 20.

Prime Minister Sheikh Hasina is expected to open the expo, Tofail said.