DHAKA: Floods in Bangladesh have destroyed an estimated 1.1 million metric tons of rice, according to data from the agriculture ministry, prompting the country to ramp up imports of the staple grain amid soaring food prices.
Floods brought by heavy monsoon rains and torrential upstream runoff struck the country in two major waves in August and October, claiming at least 75 lives and affecting millions, particularly in the eastern and northern regions where crop damage has been the most severe.
The agriculture ministry said this year’s flooding has resulted in a substantial loss of rice production. In response, the government is moving quickly to import 500,000 tons of rice and is expected to permit private sector imports soon, a food ministry official said.
The interim government, which took power in August after deadly protests forced former Prime Minister Sheikh Hasina to flee to India, has been struggling to stabilize food prices that have surged nearly 20% in recent months.
Higher imports by Bangladesh could lift shipments from neighbouring India, the top global rice exporter, which last month cut the duty on parboiled rice exports to 10%.
The floods have also severely impacted other agricultural products, including more than 200,000 tons of vegetables. Total nationwide agricultural losses due to the flooding are estimated at around 45 billion taka ($380 million).
Comments
Comments are closed.