NEW DELHI, Dec 24: Amid escalating political turmoil and growing economic pressures, Bangladesh’s interim government has decided to secure 50,000 tonnes of rice from India. The move comes at a time when the country is struggling with inflation and an increasing dependence on international aid to maintain food security, according to a Bangladesh daily report.
Despite strained bilateral relations, largely due to concerns over the treatment of religious minorities in Bangladesh, this rice deal marks a significant development in the relationship between the two countries. The agreement, which was reportedly approved during a meeting of the Economic Affairs Advisory Committee, led by Bangladesh’s Finance Advisor Salehuddin Ahmed on December 18, emphasizes the continued economic interdependence between India and Bangladesh.
The rice will be sourced from Indian supplier M/s Bagadia Brothers Private Limited at a cost of USD 456.67 per tonne, as confirmed by Bangladesh’s Food Ministry. The imported rice will be used to support state-run food distribution programs aimed at addressing food insecurity in the country.
Bangladesh currently holds a food stock of 1.1148 million tonnes, including 742,000 tonnes of rice. In the ongoing fiscal year, the country has already imported a total of 2.625 million tonnes of food grains, including over 54,000 tonnes of rice. This rice deal with India is part of Bangladesh’s broader strategy to alleviate economic strain while stabilizing food supplies.
India, under its “Neighbourhood First” policy, has consistently extended support to Bangladesh, even during periods of diplomatic tension. Despite a decline in trade relations following the rise of Bangladesh’s interim government, this rice deal highlights India’s ongoing commitment to its neighbor. Historically, India and Bangladesh have enjoyed strong trade ties, with bilateral trade growing from USD 3.2 billion in 2010-11 to USD 16.2 billion in 2021-22. However, recent political tensions have led to a slowdown in trade relations.
The rice deal is expected to strengthen both economic and diplomatic ties between the two countries, underscoring the importance of continued cooperation, particularly in times of crisis.
