Govt to buy rice for Tk 32 a kg

The government is set to buy rice at Tk 32 a kg from the domestic market during the boro season, which is Tk 1 more than the rate offered last season.

The price has been fixed before the boro harvest, so that farmers can get fair prices, Food Minister Md Qamrul Islam told reporters yesterday after a meeting of the food planning and monitoring committee, where the decision was taken. 

The government will buy 10 lakh tonnes of rice under the four-month scheme starting May 1.

Moreover, one lakh tonnes of paddy will be bought at Tk 22 a kg, which was Tk 20 last year. 

This year, rice and paddy production costs stood at Tk 27.5 and Tk 20 a kg, said the minister.

The government will also buy 1.5 lakh tonnes of wheat this year. The purchase will run from April 1 to June 30 and each kg of the cereal will be bought at Tk 28, compared to Tk 26 last year.

Each year, the government purchases rice, paddy and wheat to stabilise the market prices and prevent farmers from being forced to sell their produces at low prices.

The government is looking to produce 1.9 crore tonnes of rice and 14 lakh tonnes of wheat this year.