Exporters in Thailand and Vietnam, world's top two rice sources, are now selling to Bangladeshi importers parboiled rice, which has not been a traditional item in their export basket.
Bangladeshi importers and bankers said parboiled rice procurement from Thailand and Vietnam had increased sharply in the recent months as availability of this category of rice increased there.
Tipu Sultan, a leader of Bangladesh Rice Importers' Association, told New Age on Friday that Bangladesh government and private-sector importers paid more than $67 million in January-March for Thai rice consignments and more than 80 per cent of that was for parboiled rice.
Bangladesh's rice procurement from Thailand in the quarter stood at around 0.15 million tonnes and in the past one year nearly 0.3 million tonnes.
Global rice import markets mostly require non-boiled rice. But, in Bangladesh parboiled rice is consumed most, excepting some areas in Chittagong and Sylhet.
Previously, for many years, Indian exporters had been supplying Bangladesh market with parboiled rice.
As India had banned rice export for around two years and as, even after withdrawal of the ban, exporters there remained inactive due to shortage of rice stocks Bangladeshi importers have been searching desperately for alternative sources of parboiled rice for the past couple of years or more.
Thai and Vietnamese exporters dominate the global rice market but they had supplying only non-boiled rice. But, as Bangladeshi government and private-sector importers rushed there recently offering good price it inspired exporters to convince millers to produce parboiled rice and cater to Bangladesh market.
Quoting reports from the Thai Rice Exporters' Association, Tipu Sultan said Bangladesh imported $61 million worth of rice from Thailand in 2010, $0.8 million in 2009, and $11 million in 2008.
Bangladesh is not a net importer of rice but production shortage and damage of crop in natural calamities force it to procure one to two million tonnes of rice in some years. With around 30 million tonnes of annual un-husked rice production, the country's domestic supply of rice is more than 20 million tonnes.
Source: New Age
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