Indian farmers have planted 39.8 million hectares (98.3 million acres) with rice, up 3.7 percent on the same period last year, farm ministry data showed on Friday, as record high prices prompted farmers to expand the area.
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Saiful Islam has lately been busy preparing his five bighas of land to grow paddy. But he reckons he will have to spend Tk 25,000 more than he did last season for the cultivation as the cost of just about everything has gone up.
Bangladesh’s rice production may decline in marketing year (MY) 2022-23, which began in May, as severe floods damaged pre-monsoon crop Aus in the north and northeastern regions during planting, said a USDA report released on Monday.
Rice prices have fallen to a nearly three-year low impacted by downturn in paddy prices at the farmers’ level in the wake of good harvest as well as higher private and public stocks of the grain.
Government is considering exporting rice as the production has surpassed the required amount by 40-50 lakh metric tonnes at present, Commerce Minister Tofail Ahmed says.