Bangladesh is facing serious shortage of rice, its staple food, as the country produce one million tons less rice from its local demand this year. The shortfall of the commodity has pushed its prices, which is now being sold at Taka 38 per kilogram, Taka 8 higher than the last week's price of the commodity in the local market.
People in villages of Bangladesh eat rice three times daily, at breakfast, lunch and dinner. In wake of the shortage, the BD government decided to import the commodity to meet the shortfall and announced that 500,000 tons of rice would reach Bangladesh within the next few days.
An analyst attributed the sharp increase in prices of rice to India, which had upped the price of the commodity by $50 dollar per ton, as the BD is importing the commodity from India.
The India's decision to increase the price of the commodity is viewed as a move to offset the burden of wheat export on its exchequer, as it is exporting wheat to meet its demands.