No reason for adverse impact on market | The Daily Star
12:00 AM, October 12, 2007 / LAST MODIFIED: 12:00 AM, October 12, 2007

Indian Rice Issue

No reason for adverse impact on market

The government yesterday said there is no reason for adverse effect on the market if India stops rice export, as there is comfortable stock as well as imports in the pipeline.
A handout said any type of disaster or crisis can be tackled with the current stock and imported rice and wheat. Besides, rice can be imported from Myanmar, Thailand or Vietnam, if necessary.
"An apprehension aired in newspaper reports yesterday regarding an adverse effect of the suspension of rice export by India is not based on fact," said the government handout issued by the food and disaster management ministry.
It said around 566,506 tonnes of rice and 141,366 tonnes of wheat have been stored in various government food godowns at present.
The government has also concluded an agreement to increase the stocks of rice and wheat by procuring 148,000 tonnes of rice through tender. Around 62,000 tonnes of rice have already been found in various food godowns under the coverage of the agreement.
Besides, a "notice of award" has been given for 109,000 tonnes of rice. A decision on buying 75,000 tonnes of rice is awaiting approval by the advisory committee on purchases.
Some 23,500 tonnes of rice is being unloaded now at Chittagong port and two ships carrying 21,500 tonnes of rice are waiting at outer anchorage of the seaport for unloading.
Besides, two more ships carrying 30,000 tonnes of rice will reach the port after Eid.
"So, the stock of rice will remain 646,000 tonnes after distribution at the end of this month," said the handout.
Moreover, the requirement for next 10 months can be fulfilled with the amount of stocked wheat.
The government has also given a notice of award to collect 100,000 tonnes of wheat through tender. Of them, agreement has been signed for 67,000 tonnes of wheat. Around 8,000 tonnes of wheat have already been found in government godowns.
Besides, a process is underway to collect 118,000 tonnes of rice and 200,000 tonnes of wheat through international tender.
It further said aman harvest will begin in mid-November this year and the government will collect 200,000 tonnes of aman rice.
Besides, 300,000 tonnes of rice will come through BDR, as the paramilitary force is now engaged in marketing some essentials, including rice.
Giving these figures, the handout said the stock of rice will be at 871,000 tonnes while wheat at 170,000 tonnes at the end of January next year.
"Sufficient stocks of rice and wheat, according to its demand, will be in the government godowns under government food management in the coming months. Moreover, around 476,867 tonnes of rice and 373,910 tonnes of wheat have been imported under private initiative since last July," it said.

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