The rice market remains volatile, even during the peak monsoon season. Over the past two days, the price of coarse rice has risen by 4 to 5 taka per kilogram, while prices for fine and medium-quality rice have also increased.
This upward trend has persisted for over a month, significantly impacting low-income households.
Rising rice prices contribute heavily to inflation, which was nearly 11% in December, according to the Bangladesh Bureau of Statistics (BBS). Although slightly lower than November, the overall inflation rate remains high.
Despite the ongoing Aman harvest season, rice prices continue to climb. Sources attribute this surge to hoarding, mirroring last season's trend with potatoes. Hoarders who profited from stockpiling potatoes have now turned to rice.
At a recent event in the capital, the Trade Advisor acknowledged the price hikes and blamed hoarding, emphasizing that there is no market shortage to justify the increases. The Food Ministry has directed local authorities to enforce anti-hoarding laws.
The Trading Corporation of Bangladesh (TCB) has also flagged rising rice prices in its market reports. Currently, coarse rice is priced at Tk 54–58 per kilogram, medium-quality rice at Tk 60–65, and fine rice at Tk 70–84. Premium Nazirshail rice in Dhaka’s retail markets now exceeds Tk 90 per kilogram.
Millers argue that the increases are due to higher paddy costs, which have risen by Tk 200–250 per maund (approximately 37 kilograms) compared to last year.
In northern rice hubs such as Raiganj, Sirajganj, and Sherpur, Bogra, traders report sharp price hikes. Coarse rice that sold for Tk 1,100 per maund last year now costs Tk 1,300–1,350, while fine rice has climbed to Tk 1,500–1,900. Some traders believe that earlier profits from high potato prices have led stockpilers to shift their focus to rice, resulting in supply shortages.
The Food Ministry reports that government warehouses currently hold 8 lakh tons of rice, insufficient for ensuring food security. Domestic procurement is falling short due to rising prices.
Of the 650,000-ton rice and 300,000-ton paddy procurement target set in November, only 250,000 tons of rice have been procured to date, raising doubts about the campaign’s success before its February deadline.
Private rice imports have also been limited due to high costs driven by a stronger dollar. Since July, only 117,000 tons of rice have been imported. To address the shortage, the government plans to import 900,000 tons of rice, including 50,000 tons from Pakistan and 100,000 tons from Myanmar.
Food Advisor Ali Imam Majumder expressed hope that these imports—totaling 175,000 tons this month—will stabilize prices.
He announced plans to strengthen Open Market Sale (OMS) programs and remove duties on private imports. Local administrators have also been instructed to crack down on hoarding practices.
Meanwhile in Dhaka, Trade Advisor Sheikh Bashiruddin launched the January TCB product sales program using new smart cards to distribute essential goods. The program was launched in Tejgaon area of the capital on Wednesday.