There is no logical reason for the rise in rice prices: Commerce Adviser.

News Desk    |    ০২:০৮ পিএম, ২০২৫-০১-০৮

Commerce Adviser Sheikh Bashiruddin stated that the current Aman season is at its peak and there is no shortage of rice in the market. Therefore, the recent price increase of rice is unjustified. He believes that the price hike is due to temporary hoarding, and efforts are being made to control rice prices by increasing imports. He made these remarks during the inauguration of the Trading Corporation of Bangladesh's (TCB's) January product sales program at the Deepika intersection in the Begunbari area of Tejgaon, Dhaka, on Wednesday.

The Commerce Advisor acknowledged the rise in rice prices, particularly the significant increase in Nazirshail and Miniket rice varieties. He noted that the price increase at the wholesale level was much smaller compared to retail prices, and investigations are underway to understand the reasons behind this discrepancy. Overall, the price increase seems unreasonable.

According to available data, Sheikh Bashiruddin emphasized that there is no shortage of rice in the market, with the government having sufficient reserves and local production. Since it is the peak of the Aman season, there is no legitimate reason for the price hike, which he believes is a result of temporary hoarding.

In response to the rice price increase, the government is adopting an import liberalization policy, the Commerce Adviser mentioned. He added that in the past two days, they held meetings with officials from the governor's office, the food adviser, the TCB, and the Ministry of Agriculture. As per the decisions from these meetings, steps are being taken to improve the supply system, including focusing on imports.

Sheikh Bashiruddin also mentioned that large-scale rice imports are being prepared, and he hopes this will help reduce local market prices. A similar trend was observed with potatoes: after the price hike, liberalizing imports brought the price down.

TCB Starts Selling Products Through Smart Cards

From today, TCB products will be sold using a new smart card (family card). Commerce Adviser Sheikh Bashiruddin inaugurated the sale of TCB products through the smart card this morning. The adviser also mentioned that the paper-based system has been canceled, and from now on, TCB products will be sold using the new smart cards.

Sheikh Bashiruddin further acknowledged the previous issues with the TCB card system, including chaos and corruption. As the first step toward resolving these issues, TCB has begun product distribution through smart cards. So far, 6.3 million smart cards have been distributed, and another 3 to 4 million cards will be given out soon. In addition to the sale, the Commerce Adviser assured that transparency will be introduced into TCB's procurement process as well. The procurement process will be made transparent and participatory.

Under the new smart family card system, a cardholder can buy up to two liters of cooking oil (either soybean or mustard oil), two kilograms of lentils, and one kilogram of sugar. The price for each liter of cooking oil will be set at 100 taka, while lentils will be sold at 60 taka per kilogram and sugar at 70 taka per kilogram. Unlike last year, TCB will not be selling rice this time.