Commerce Minister Khandakar Abdul Muktadir said on Wednesday that the price and supply of rice in the market remains sufficiently stable.
Following a visit to wholesale and retail markets in the capital, he confirmed that the government maintains satisfactory reserves of both rice and wheat.
Muktadir, accompanied by State Minister for Food Md Abdul Bari and Commerce Secretary Md Ataur Rahman Khan, conducted the inspection at the Badamtoli wholesale rice market and Nayabazar retail market.
The findings were later shared during a press briefing at the Ministry of Commerce’s conference room in the Secretariat.
He explained that the visit was prompted by a report published in a newspaper regarding price hikes in the rice market. Upon inspection of various wholesale and retail outlets, the delegation found no significant changes in prices.
Although some traders reported a post-Eid increase of Tk1 to Tk1.5 per kilogramme for certain varieties, the minister noted that this does not indicate a major price surge. He further revealed that an attempt by some millers to raise prices by Tk100 per sack had failed to take effect and prices have since decreased.
Addressing market dynamics, Muktadir noted that price differences of Tk2 to Tk4 are normal between different qualities of rice, as are variations between new and old stock. He highlighted that a good harvest typically results in lower prices for new rice, and minor fluctuations of one or two Taka are standard market trends.
Muktadir also touched upon other essential commodities, stating that the supply of edible oil and other products remains steady. Prices and supply levels are being monitored daily by various agencies.
Regarding post-budget inflation, he remarked that the food market is currently more stable compared to recent months or the same period last year. He clarified that the recent Tk 4 per litre increase in soybean oil prices had been transparently explained beforehand.
“We are monitoring the market situation closely,” the minister said, adding that the government possesses the capability to intervene, if necessary, though the current supply and price levels are satisfactory.
State minister for Food Md Abdul Bari assured that the country’s rice supply remains normal and functional.
He disclosed that the government currently holds approximately 20 lakh tonnes of food grain in reserve – a figure significantly higher than the required emergency stock. With ongoing procurement of paddy and rice, government stocks are increasing daily.
Bari concluded that there is no reason for public panic, as traders have reported no shortages or crises in the supply chain.
