Bangladesh: Procurement price of rice of the 2014 Aman season to increase.

21/10/2014,

While the official procurement price for the 2014 Aman season rice, to be harvested from early November, has not still be fixed by the Ministry of Agriculture, the production costs -which are the base of the procurement price- have been increased compared to last year’s same season. The production cost per kilogram of milled rice has been increased by 10 percent to BDT 28 and that of paddy by 6 percent to BDT 18. The decision to increase the production cost reflects mainly higher costs of tilling, fertilizers, irrigation and labour. The Aman rice crop represents an average 38 percent of the annual rice production. FAO forecasts this season’s output at a record level of 19.7 million tonnes, slightly above last’s year bumper level.