For the first time since 1971, Bangladesh has resumed direct trade with Pakistan, importing 50,000 metric tons of rice. However, reports reveal that Bangladesh is purchasing rice from Pakistan at a higher price than from Vietnam.
Bangladesh has begun importing rice from Pakistan for the first time in decades, marking a historic resumption of trade since the 1971 independence war. The first shipment of rice, set to arrive from Karachi’s Qasim Port, will be part of the 50,000 metric tons of rice being imported from Pakistan.
However, according to Reuters on Monday (February 24), Bangladesh is purchasing rice from Pakistan at a higher price than it has from Vietnam. Bangladesh bought one lakh tons of rice from Vietnam at a price of $474.25 per ton, which equals approximately 57 Taka per kilogram.
In contrast, the rice from Pakistan is priced at $499 per ton, meaning Bangladesh is paying about 61 Taka per kilogram for rice from Islamabad. This price difference has raised concerns, as the cost of rice from Pakistan is noticeably higher than from Vietnam.
Of the 50,000 tons of rice purchased from Pakistan, half will arrive in the coming days, with the remaining 25,000 tons expected by the first week of March. The rice is being supplied under a government-to-government agreement, with Pakistan’s Trading Corporation responsible for the supply.
Meanwhile, the price of medium-grade rice in Bangladesh has reached 80 Taka per kilogram. To stabilize the market, the government has focused on increasing rice imports and has lifted the import duties on rice.
The rice imported from Vietnam will be sold under the Open Market Sale (OMS) scheme by the government at a subsidized rate of 30 Taka per kilogram. A total of 907 tons of rice will be sold daily across 906 centers in the country.
Liberty News’ economic correspondent states that despite being one of the world’s largest rice producers, Bangladesh continues to import large quantities of rice. In 2023, the country imported 200,000 tons of rice from India, Thailand, Vietnam, and Myanmar. This time, Pakistan has joined the list of rice suppliers to Bangladesh.
LND/BG
