Prices rose as people now prefer fine to coarse rice: food minister

Food Minister Sadhan Chandra Majumder has offered a fresh explanation for the recent hike in rice prices.

He says many prefer fine rice to the coarse varieties now due to their low prices, but it has driven retail prices of the fine varieties slightly.

Sadhan spoke to reporters after an event organised by the FBCCI in Dhaka on Sunday.

Prices of fine varieties of rice started to rise at the mills in the beginning of November.

In Dhaka, prices of medium quality rice rose by 11 percent and premium quality by up to 8 percent in a month, according to the Trading Corporation of Bangladesh.

Agriculture Minister Abdur Razzaque last Thursday defended the spike in rice prices, and ruled out market manipulation.

A rise in paddy prices pushed rice prices, which is good for the farmers, he had said.

A journalist asked Sadhan why rice prices were rising though the government claimed the stock was sufficient.

“Rice prices haven’t increased. The hike you see is only in the retail market,” the food minister said.

“People don’t eat coarse rise anymore. They eat fine rice. They have become used to eating fine rice as the prices dropped following a fall in paddy prices,” he offered.

The minister claimed traders were not buying coarse rice due to a drop in demand.

“We can’t sell coarse rice at Tk 30 a kg in the market. The dealers don’t want to buy it because they can’t find customers,” said Sadhan, whose family is involved in rice business in Naogaon.