Do we have enough food grain stocks?

Recent media reports have highlighted that during this Ramadan, prices of medium-sized rice in the retail market have gone up by 1.89 percent per kg than the usual rate, while prices of coarse rice has also increased up to 4.35 percent per kg. Although there are many reasons behind this price hike, a report published by The Daily Star yesterday has highlighted the government's inability to maintain adequate stocks.

Food experts suggest that the government has to store a minimum of 12.5 lakh tonnes of grains on a monthly basis to prevent sudden food shortages or price hikes. However, this stock has now fallen to a mere four lakh tonnes, which is the lowest since 2008, the year following Cyclone Sidr, a calamity that caused acute food scarcity for coastal populations at the time. Although the country's total demand for food grains is 30 lakh tonnes per month, the report shows that the government's total food storage capacity at present is only 19 lakh tonnes. Ideally, say experts, the government should have food grain stocks of 24 to 25 tonnes for emergency situations and for its safety net programmes for the poor.

Bangladesh constantly faces natural disasters that destroy large amounts of valuable crops. This is why storing a large amount of food grains during peak harvesting seasons should be the top priority of the concerned authorities, to prevent people suffering from hunger during crisis periods. For example, there was no food shortage during last year's Boro season, a time when Bangladesh became the third largest rice producer in the world. So why didn't we have enough stocks for possible shortages this year?

The respective bodies have to ensure that farmers get appropriate prices for their crops during harvesting seasons so that the latter have the incentive to provide the necessary food grains to the government when needed. Also, the government has to focus on increasing domestic food production capacities instead of relying on imports from foreign countries that include high taxes and chances of possible disruption in the supply chain during such emergency periods as the ongoing Covid-19 crisis. The number of government warehouses to store food grains also needs to be increased from its current rates. Lastly, market regulation and strict surveillance of illegal food hoarders have to be initiated by the government in order to keep the prices of essential food products like rice within acceptable limits.

While there is no reason to panic regarding current supplies, the government must take immediate steps to replenish stocks and maintain an adequate amount in the case of exigencies.