Global Rice News

The government is taking steps to ensure a steady supply of essential products and prevent any future crises or price increases. The commerce ministry is working with the Trading Corporation of Bangladesh (TCB) to compile a list of reputable international suppliers. Commerce counsellors will be assigned to Bangladesh missions abroad to gather information on suppliers from their respective countries.

TCB chairman Brigadier General Md Ariful Hassan stated that procuring products from trusted international suppliers will help stabilize the market and control price increases. This move is expected to have a positive impact on the local market, increase the supply of essential products, and stabilize the domestic market.

The list of essential products includes sugar, edible oil (super palm, palm oil), onion, lentils, gram, and dates. Commercial counsellors will invite expressions of interest from relevant product exporters. The qualifications of exporters, such as previous experience, turnover, liquid assets, tender capacity, joint venture information, complaints, trade license, chamber of commerce certificate, and export registration certificate, will be verified and sent to the TCB through the commerce ministry.

Local traders and importers believe that this plan will be effective in ensuring timely supply of essentials in the local market. However, proper management is crucial to achieving the government’s goals.

The TCB will build a buffer stock of these products to address any shortages. They will import essential goods or procure them from international markets to stabilize the commodity market in the future, especially during Ramadan. Local private sector importers will also have the opportunity to import necessary goods.

Currently, the TCB sells essential commodities at subsidized rates to maintain market stability. The government aims to prepare for any price increases in the future and intervene effectively in the market.

An official dealing with the issue stated that the ministry is working to ensure an adequate supply of these products during the fasting month. The prices of essential items often increase significantly during Ramadan and Eid-ul-Azha, causing difficulties for the general population.

As per the Prime Minister’s instructions, edible oil, sugar, and lentil pulses are being sold at affordable prices to 10 million low-income families holding TCB family cards. The TCB requires 20 million liters of edible oil, 20,000 tonnes of lentils, and 10,000 tonnes of sugar per month. Chickpeas and dates are also needed during Ramadan, while onions and potatoes are bought and sold at affordable prices as emergency needs arise.

Sometimes the TCB is unable to sell certain products, such as sugar, to eligible families. This new initiative will help address such circumstances and support the state entity.

Source: [link](https://thefinancialexpress.com.bd)