Adding that more rice is going to private traders due to the high market price, he said: "There is rice in many warehouses. Despite the hurdles, Naogaon has reported significant progress in uncooked rice collection, with 97 percent of its target achieved. Government-fixed rates for paddy and rice exert a significant influence on market prices, with fluctuations closely linked to the volume of coarse rice collected and stored by the authorities. Historical trends reveal that dwindling reserves in government warehouses often coincide with rising market prices, underscoring the critical function of these stockpiles in mitigating volatility. However, the rice market is not under much government supervision, and so, the traders have seized this opportunity.

Source: bd News24 January 03, 2025 04:53 UTC