Against a dire warning that famine will most likely stalk the length and breadth of this planet, authorities in Bangladesh have time and again assured of enough food-grain stock in the country. Right now rice prices are at their highest in 18 months. This phenomenon has its reflection on the country's domestic rice market so much so that all varieties of rice---coarse, medium and fine ---are now dearer by 10 per cent above last year's price levels. In this context, the preparation for building its envisaged stock by the private sector has been inadequate. Of the targeted 1.1 million tonnes of import, only 0.14 million tonnes could be imported. Even the import of 0.33 million tonnes of rice under the government to government deals with India and Vietnam is yet to materialise.
Considered against the backdrop of crop failure in the country this season, the developments in rice import from global sources do not augur well for the country. But the authorities insist that the country has enough of a food-grain stock. This is somewhat incomprehensible. If the FAO All Rice Price Index is any guide, the varieties of parboil rice South Asian and South-east Asian nations are used to consuming are not readily available with India imposing ban or restrictions on export of some of these items. In case of wheat, a supplementary food grain for rice, supply crunch from its main sources such as the two warring nations has caused the price to reach an outrageous level. What is particularly concerning is the volatility of rice market because the supply line has not been disrupted by the Russia-Ukraine war. In fact, commercial calculations now get the better of humanitarian concerns everywhere on the common pretexts of rising costs of fuel and the fall-outs of the war.
The situation is becoming grimmer for the world. Bangladesh cannot remain immune to the onslaught of prowling business. This has prompted the prime minister to share with the countrymen her experiences at the gatherings of heads of state during Queen Elizabeth's funerals and also at the UN assembly where world leaders are deeply concerned about the looming danger of a famine next year. She reiterates that food production has to be raised in order to meet the challenge and appeals that all should practise austerity in using resources. She has also advised everyone to save whatever is possible for the rainy days.
All these down-to-earth words have import no doubt. For those who can afford are, however, least bothered about austerity. Also the business syndicates who manipulate market in order to raise prices of essentials beyond any reasonable limits are surely responsible for exhausting the ability of the lower-income people to survive this crisis. Then there is a large segment who remain outside of the programmes like open market sale (OMS), food friendly programme (FFP) and vulnerable group feeding (VGF). They can neither beg nor have means to procure the foods they need. Even if there is an adequate food stock in the country, these segment in particular is most likely destined to famish. Adequate food stock is no guarantee, as Nobel laureate Amartya Sen has shown, for food security of all.