FAO cautions 9 countries including Bangladesh on food prices

Rice

Bangladesh

World

Published Feb 15, 2021

Tridge summary

The United Nation’s Food and Agriculture Organization warns nine countries including Bangladesh of food price hike. According to FAO’s domestic price warning issued on Wednesday, rice price in Bangladesh has been increased by 35 per cent in the last one year due to shortfall in production, limited import and increased demand of rice during the pandemic. The latest food price warning says that rice prices reached the highest level in Bangladesh since October 2017.

Original content

In the report, Nigeria, South Sudan and Sudan have received the high level of warning while Bangladesh, Brazil, Argentina, Zimbabwe, Tajikistan and Kyrgyzstan are cautioned moderately. The report says that price hike of one or more food grains would badly impact people’s access to food in the concerned countries. The warning has been issued as Argentina and Zimbabwe see price hike in all kind of foods while price of staple foods become costlier in Sudan and South Sudan, maize in Nigeria, wheat in Tajikistan and Kyrgyzstan, cereals in Brazil, and rice in Bangladesh. The domestic price warning is issued if a country sees price hike in its main staple. FAP also provides recovery guidelines to the country. The report cites that Bangladesh government, in a bid to curtail further price increases, lowered custom duty on rice from 65.5 per cent to 25 per cent to encourage private sector importers. Albeit the rice imports, price hike could not be controlled. Former adviser to the caretaker ...

Source: Daily Prothom Alo