Bangladesh could increase rice imports from India, issue could come up at the Modi-Hasina meet

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Bangladesh is set to import another 1.5 lakh tonnes of non Basmati rice from India. India has already supplied 3.5 lakh tonnes of rice to its south Asian neighbour in the last few months. However, sources said that the country’s requirement for rice could increase further with its public foodgrain stock dropping to a three-year low leading to growing concerns for the Sheikh Hasina government. The issue of food security could also come up when Prime Minister Narendra Modi’s visit to Dhaka later this month.</p>
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According to World-Grain.com, heavy rains and flooding in Bangladesh June and July last year led to a 15 per cent rice crop loss, increasing rice prices in the second half of 2020.</p>
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The website collating data and information about grain production also said that Bangladesh’s rice imports are expected to be 600,000 tonnes in 2020-21 to replenish the country’s publicly held rice stocks and reduce domestic rice prices.</p>
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A senior government official said that India is ready to increase its exports of the grain to Dhaka to fill the gap, if the need arises.</p>
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Dhaka has increased its imports of rice not only from India but also from other Asian countries such as Thailand, Vietnam and even Singapore.</p>
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However, Thailand and Vietnam– the other two major rice exporting countries have also experienced a dent in production of the crop. Besides, the price of the grain in these two countries is significantly higher than India. </p>
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“India’s rice production has risen and we expect it to remain high even this year. We have managed to increase our exports to many countries including Bangladesh and several other African countries. There is enough stock for domestic consumption, which includes a substantial quantity required for public distribution system,” Vinod Kaul, executive director, All India Rice Exporters’ Association told IndiaNarrative.com.</p>
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Lower stocks of foodgrain in Bangaldesh has become a concern as it could dent the government’s subsidised food distribution for the poor.</p>
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“This will affect the food security of many poor people," Bangladesh based The Daily Star quoted former director general of Bangladesh Institute of Development Studies (BIDS), Quazi Shahabuddin as saying.</p>
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Bangladesh has already reduced import duty on rice to 25 per cent from a high 62.5 per cent to facilitate imports of the grain in the country.</p>
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<strong>India’s role in global food security</strong></p>
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After vaccines, India’s role in maintaining global food security has become crucial. India is rapidly turning out to be the most crucial supplier of rice in the world. Supply of the staple cereal from other major rice exporting economies including Thailand and Vietnam fell sharply in 2020, due to reduced production after floods and droughts ravaged those countries. Besides, compared to the Indian rice, the price of the grain supplied by Thailand and Vietnam is almost $100 to $150 higher per tonne.</p>