Trade and markets
 

Detail

Area
Bangladesh
Commodity Group
Rice
Commodity
All
Date
01/06/2017
Policy Category
Production
Policy Instrument
Budgetary allocations, production support, Government procurement
Description
Announced that allotments for agricultural subsidies would be kept steady at BDT 90 billion (USD 1.1 billion), in its 2017/2018 budgetary allocations. In support of the agricultural sector, steps would be taken to arrest encroachment of agricultural land, reduce post-harvest losses, expand irrigation coverage and advance research and supply of improved seed varieties, including through genetic engineering. Incentives to promote mechanisation would also continue. A rice import target of 600 000 tonnes was set for the 2017/2018 fiscal year (July-June). The Government would seek to purchase a separate 1.6 million tonnes of rice locally in 2017/18, compared to 1.85 million tonnes the previous year.
Notes
Exchange rate as of 1 July 2017.