Despite a seasonal decline in demand during Ramadan and government initiatives to encourage both public and private sector imports, rice prices continue to climb.
Over the past two weeks, the price of Miniket rice has risen by approximately Tk5 per kg, affecting the cost of the popular Nazirshail variety as well.
The persistent price hike has put a strain on ordinary consumers.
Mill owners and wholesalers attribute the price surge to depleting stockpiles and rising paddy prices.
Market insiders indicate that prices are unlikely to decrease before the Boro harvest begins.
A visit to retail markets such as Mohammadpur Krishi Market, Town Hall Market, Agargaon’s Taltola Bazaar, and Karwan Bazaar reveals that brands like Rashid, Diamond, and Sagar are selling Miniket rice at Tk85 per kg or slightly higher, while Mojammel brand Miniket commands the highest price at Tk98–100 per kg.
Meanwhile, high-quality Nazirshail rice is available at Tk84–85 per kg, with mid-range and lower-grade varieties priced between Tk72 and Tk82 per kg, depending on quality and location.
Typically, Nazirshail rice is costlier than Miniket, but the current trend has reversed, exacerbating financial stress for middle-class households. In contrast, coarse rice is selling at Tk55–56 per kg, while mid-range varieties are priced between Tk58 and Tk65 per kg.
According to the Trading Corporation of Bangladesh (TCB), compared to a year ago, mid-range rice prices have increased by 14% and coarse rice by 15%.
The price surge is also evident in major rice trading hubs like Naogaon and Kushtia.
In Kushtia, Miniket prices have risen by Tk7 per kg over the past 15 days, now selling at Tk84 per kg at mill gates.
Meanwhile, in Naogaon, prices have surged by Tk3–4 per kg in just one week.
Jainal Abedin, General Secretary of the Bangladesh Auto Major and Husking Mill Owners Association (Kushtia branch), noted that the supply crunch will persist until the Boro paddy enters the market.
However, in a recent statement, the Ministry of Food argued that Miniket's price surge does not necessarily reflect the overall rice market, asserting that the government has ample stockpiles and is continuing rice imports to prevent any crisis.
Market analysts attribute the Miniket price hike to limited supply.
They emphasise that Miniket is not a distinct rice variety; rather, it is a polished version of coarser rice varieties such as BRRI Dhan-28, BRRI Dhan-29, BRRI Hybrid Dhan, and Kajol Lata.
The supply of these paddy varieties is currently low, but the upcoming Boro harvest in late April is expected to stabilise prices.
Meanwhile, the government has announced plans to distribute around 700,000 tonnes of rice through various food assistance programs, including Food-Friendly Programmes, VGD, OMS, and TCB operations in March and April.
So far in the current fiscal year, a total of 598,400 tonnes of rice has been imported through public and private initiatives.
