Bangladesh's interim government has decided to import 392,000 tonnes (3.92 lakh tonnes) of rice by 22 December 2024 to address the growing concerns of rice shortages and rising prices.

This move is aimed at boosting the domestic supply of rice, a staple food in Bangladesh, and curbing retail price hikes. Official sources reveal that 92 private importers have been given approval to import a total of 273,000 tonnes of Sela rice and 119,000 tonnes of white (raw) rice.

The decision was made in response to reduced rice production from the current paddy season, which has been impacted by various factors.

The government has set a very tight deadline for the rice to reach the market, with the imported rice needing to be available for sale in retail outlets by 22 December.

This deadline could pose challenges, given the short time frame for shipment and delivery. Importers are required to sell the rice in sacks, in line with government regulations.

Although some rice imports were allowed earlier, particularly from India, the impact on prices was minimal due to limited quantities.

This new decision aims to more significantly increase supply and stabilize prices as Bangladesh moves toward the end of its harvest season, which is expected to be completed by the end of December.