Bangladesh Govt has planned to obtain One million Boro milled rice and 150000 tons of Boro paddy rice in the financial year 2014-15(July-June).The target procurement of last year was of 900,000 tons of rice and it was near about 12 percent up from last. Local sources reported that Boro rice procurement will occur from May to August 2014 and the Govt. is planning to purchase rice from millers and peasants.
It is quoted that Millers will be paid Tk 31 per kg which is around $391 per ton for paddy, and is 7% more from Tk 29 per kg near about $366 per ton, in last financial year. However, peasants will get Tk 20 per kilogram (around $252 per ton) of paddy, which surged 8 percent from last year’s 18.5 per kg near about $ 233 per ton.
Current costs of Tk 17.5 per Kg are the current price according to the Govt. around $221 per ton for paddy and Tk 26.5 per kg is fixed for milled rice grain around $334 per ton are there for milled rice.
Last year it was 8 percent down from the targeted one as the reason was low price were offered by the Govt. Total production of Bangladesh rice was estimated at 18.9 million tons and in financial year 2012-2013 it was only 18.8 million.
323,685 tons of aman rice has been obtained by Govt. which is harvested in November – December).
Targeted procurement was 400,000 tons of Aman rice before the month of March the figure released by Food Ministry.
The Government stockpile of rice grain stopped at 812,220 tons as of March 6, 2014