Bangladesh rice import records hefty growth in July-December
7/1/2008 17:23
Nearly 950,000 tons of rice were imported during July-December period of
2007 compared to that of 173,000 tons imported during the corresponding period
of the previous year, local newspaper The Financial Express reported
today.
Rice import, thus, recorded a 443.35 percent growth in terms of
quantity over that of the corresponding period of the previous year, according
to Bangladesh Bank statistics.
The average cost of a ton of rice imported
during July-December period of 2007 was US$316 while it was US$208 during the
corresponding period of 2006.
The import of rice witnessed a rise by 728.16
percent, in term of value, to US$296.98 million during the period compared with
US$35.86 million of the same period of the previous year.
Bangladesh is
facing acute food deficit following the production loss caused by twice monsoon
flooding and devastating cyclone "Sidr" last year that battered the country's
southern coastal region.
Besides, according to local media, illegal hoarding
by millers and wholesalers also caused sharp rice price hike.
The abnormal
price-hike of rice last week triggered panic among the low and middle-income
people in Bangladesh. However, the price started sliding down with government
intervention.
Xinhua
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