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Boro procurement target tough to fulfill

  • Published at 08:10 pm September 17th, 2016
Boro procurement target tough to fulfill
According to the Food Directorate data, the government until September 5 procured around 323,000 tonnes of Boro rice from the local market against a target of 750,000 tonnes. Md Badrul Hasan, director general of the Food Directorate, said: “The millers could not supply adequate amount of rice on time due to shortage of labour during the Eid-ul-Azha. We hope to reach our target by this month.” The government started Boro procurement from May 1 with the target of collecting 500,000 tonnes of rice and 600,000 tonnes of paddy. The process was supposed to end by August 31. But on August 16 the target was increased by an extra 250,000 tonnes of rice and the deadline extended to September 15. Badrul mentioned that the government's current rice stock was around 450,000 tonnes less than the previous year. As of September 5 last year, the government's rice stock was around 1.3 million tonnes. The reserve stood at 814,000 tonnes on the same day this year. Nirod Boron Saha, president of Association for Naogaon Paddy-Rice Wholesalers and Business Community, said that the government in no way would be able to fulfil its target this year as the market price goes up at this time. “The government is procuring rice at Tk32 per kg while the market rate is around Tk32-32.50. How will the millers supply rice in the government fixed rate?” He added: “The government can get at best 50,000 tonnes more rice from stock in the next few days.” The government had estimated Boro rice production cost at Tk29. About the reserve, the Food Directorate chief said: “We think the current stock is a healthy amount. More rice stocks sometimes create problems.” Last year when the government had in stock around 250,000 tonnes of rice in excess, it had to sell the rice at reduced price through Open Market Sale (OMS). Nirod Boron Saha said: “Collection of less rice than the target will not affect the country's overall food reserves as well the rice market since there is enough rice stock in the local market at this moment.”
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