Foodgrain stocks are dwindling.
Foodgrain stocks are dwindling in the country. Experts say that the slow pace of domestic procurement and reduced imports have raised concerns about food security. If this situation does not improve quickly, rice prices may increase, which will have a major impact on the lives of the common people.
It is known that the amount of food stocks has decreased alarmingly from the amount that was there when the Hasina government fell. On August 7, the total foodgrain stocks in the country were 18 lakh 9 thousand 857 tons. As of yesterday, that stock has decreased to 12 lakh 95 thousand 766 tons. Accordingly, foodgrain stocks have decreased by 5 lakh 14 thousand 91 tons in 6 months.
The government procures rice and wheat through domestic sources and imports. Market observers believe that the government’s inability to import on time is mainly responsible for the decline in stocks in the state treasury. According to them, during the previous government’s time, it was repeatedly claimed that a record amount of foodgrains had been produced in the last few seasons. Despite this, the rice market has become unstable from time to time. Therefore, this time too, there was an opportunity to take initiatives to increase imports by the government earlier to control the market. In addition, there is no effective monitoring and control of the government in the market. As a result, the suffering of consumers is increasing.
Meanwhile, the holy month of Ramadan is knocking on the door. Ramadan is starting in early March. The market is not stabilizing due to food stockpiling and government initiatives. People are burning with rising inflation. Although the government believes that commodity prices will remain stable during Ramadan. However, at a program last Sunday, Trade Advisor Sheikh Bashir Uddin said that the prices of daily necessities will not increase during Ramadan. There will be no shortage of daily necessities during Ramadan.
The Food and Agriculture Organization of the United Nations (FAO) says that 23.6 million people in Bangladesh are suffering from an acute food crisis due to high inflation, a shortage of food imports compared to the needs, and natural disasters. If this continues, the situation may become more deplorable in the coming days.
Meanwhile, the Chartered Institute of Procurement and Supply (CIPS) has warned that the prices of essential commodities, including food and beverages, could increase by up to 20 percent in the global market in 2025. There is a fear of this price increase due to some global problems in supply and transportation.
Consumers Association of Bangladesh (CAB) Vice President SM Nazer Hossain told our time that there are concerns about the prices of goods in the upcoming Ramadan. In the meantime, the prices of many goods have increased. Every year, the prices of goods increase around Ramadan. This time too, there is that fear. On the other hand, many corporate groups will not be in the market after August 5. But the government has no initiative to fill their void. There is no dialogue with traders either. There are many technical issues in the import sector as well. There is no visible initiative in that regard either.
Khandaker Golam Moazzem, Research Director of the Center for Policy Dialogue (CPD), a private research organization, said that the government does not have sufficient market information; therefore, the government is unable to control the market. Although the government has annual production and supply information, it does not have daily demand and supply information. With such a situation, it is never possible for the government to control the market.
He said, there is a lack of transparency and accountability in market supervision. Market supervision is weakening. At the same time, there is a lack of transparency and accountability in the market system. The initiatives that the previous government has taken in market supervision, the current government is also taking the same initiatives. In fact, we have fallen into a vicious circle of policies. This needs to be broken, at least in the case of the supply system of daily necessities.
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