Wheat Import banned for Bangladesh

Wheat Import Banned for Bangladesh- Is it going to hit Bangladesh badly?

Wheat Import banned for Bangladesh! Will we be seeing food crises in Bangladesh?

Due to the rising inflation, India is trying to control the wheat prices at domestic levels through putting a ban on wheat exports. Another reason for such act is ongoing heat wave weather that is causing shortage of production.

The prices of wheat have been in a situation of hyperinflation since Russia’s started invade Ukraine. As we have all noticed that prices of wheat has already touched 453 us dollars per tonne.

India’s act of putting a ban on wheat exports will create trouble for the low income countries especially Asian and Middle-East countries.  

Bangladesh is one of the main countries that depends approximately 55.9% on Indian wheat. This is the reason Bangladesh has made a plan to overcome its wheat shortage by importing from 5 alternative sources.

Tipu Munshi-Minister of Commerce Minister is quite hopeful that India will reconsider its policy for the neighboring countries.  He also added during dialogues that India should work to make market stable instead of controlling the prices.

Tipu Munshi has said that he we are ready to fix the wheat prices with respect to the global markets. Therefore, when prices are fixed it brings stability in the markets.

He also showed his concerns over the rising prices of edible oil, sugar and lentils. According to Commerce Minister, Bangladesh has to import 90% edible oil for its domestic use that’s why they have already fix the prices.

He also denied the various thoughts that are assuming Bangladesh can face a situation like Sri Lanka. He said there is no such possibility.

The Minister also added regarding onion’s prices. According to him onion prices are still in the reach of general consumers. But even then they are trying hard to make it possible for the consumers to buy onion at TK 45/kg including all expenses.

During his dialogues that was conducted at BSRF, Tipu Munshi admitted his mistakes by trusting edible oil traders. According to him, if we have fixed the prices of edible oil then traders would not have got enough chances.