December 28, 2022
DHAKA – India has suggested that Bangladesh review the proposed import quota on several food items as the neighbouring nation believes the quantity sought as a guaranteed supply is too high.
For example, Bangladesh has proposed that India guarantee a supply of up to 45 lakh tonnes of wheat each year.
However, India believes the quantity is too high given that its overall exports of the grain to Bangladesh stand at an annual average of about 7 lakh tonnes, according to Commerce Minister Tipu Munshi.
Bangladesh annually imports nearly 65 lakh tonnes of wheat from different sources, particularly Russia and Ukraine, to meet local demand.
But following Russia’s invasion of Ukraine, the price of wheat increased worldwide as availability of the grain became uncertain due to ensuing volatility in the global supply chain.
So, the government has been looking for a guaranteed supply of seven food items to avert any potential food crisis amid the ongoing economic uncertainty.
As such, the commerce minister paid a two-day visit to India on December 22 and 23 to this end.