Boro price still high for hoarding in Gaibandha markets
Although harvest of Boro crops is nearly complete in most areas, price of rice in the local markets is yet to see significant reduction, as solvent farmers, middlemen and traders are stockpiling paddy with hope to gain more profit when the crop gets further price hike.
As a result, supply of Boro paddy is not sufficient to help check high price trends in the markets.
Boro paddy from fields is selling at Tk 665 per maund, while dried up paddy at Tk 750. The present price of coarse rice in the market is Tk 30 a kg while fine rice Tk 34.
The price of Boro paddy and rice will not decrease any more, as harvesting of the crop is nearly complete, said a petty rice trader in Gaibandha Puratan Bazaar.
Small and marginal farmers are virtually selling paddy to moneylenders, as they borrowed from them earlier for managing the expenditure Boro cultivation. Many of them sold crops in advance at much lower prices.
Solvent farmers are also stockpiling Boro paddy, fearing price hike in the off harvest period.
Labour cost for harvesting Boro crop from a bigha of land is Tk 1200 and for threshing it is Tk 250 and marginal farmers have to sell paddy to afford the cost, said farmer Hafizar of Gideri.
Paddy procurement by the government will not be success, unless the government increases the price rates of paddy and rice, said Kamrul Hasan, a model farmer of Hashem Bazaar under Gaibandha Sadar upazila.
Agents of moneylenders, millers and wholesalers are purchasing paddy from the doorstep of farmers and stockpiling it.
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