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Bangladesh bans most rice exports | Bangladesh bans most rice exports |
(10 minutes later) | |
Bangladesh has banned exports of nearly all the rice it produces to prevent shortages and keep food costs down. | Bangladesh has banned exports of nearly all the rice it produces to prevent shortages and keep food costs down. |
The government said the ban began on Tuesday and will last six months. | The government said the ban began on Tuesday and will last six months. |
Bangladesh is the world's fourth largest rice importer but exports a small amount of aromatic rice, such as Basmati, to other countries. | Bangladesh is the world's fourth largest rice importer but exports a small amount of aromatic rice, such as Basmati, to other countries. |
Rising prices for rice, wheat and other foodstuffs have been hitting poorer people in South Asia badly. | Rising prices for rice, wheat and other foodstuffs have been hitting poorer people in South Asia badly. |
The rises have forced many Bangladeshis to reduce the amount they eat each day. Floods and storms last year compounded global supply problems and pushed prices up. | The rises have forced many Bangladeshis to reduce the amount they eat each day. Floods and storms last year compounded global supply problems and pushed prices up. |
'Food security' | 'Food security' |
The Bangladesh government ban follows similar moves in recent weeks by countries such as India, Vietnam and Egypt. | The Bangladesh government ban follows similar moves in recent weeks by countries such as India, Vietnam and Egypt. |
Food queues have become longer as prices have gone up | Food queues have become longer as prices have gone up |
A kilogramme of coarse rice, the staple food of most Bangladeshis, now costs about $0.60 - double what it did a year ago. | A kilogramme of coarse rice, the staple food of most Bangladeshis, now costs about $0.60 - double what it did a year ago. |
The government says it wants to stop exporters exploiting its rice export policy. | The government says it wants to stop exporters exploiting its rice export policy. |
"The move will help ensure food security and serve the country's interest," a senior commerce ministry official was quoting as saying by the Daily Star. | "The move will help ensure food security and serve the country's interest," a senior commerce ministry official was quoting as saying by the Daily Star. |
Bangladesh produces about 29 million tonnes of coarse rice annually for its 140 million people and imports some three million tonnes. | Bangladesh produces about 29 million tonnes of coarse rice annually for its 140 million people and imports some three million tonnes. |
Rice exports were worth about $5.4m in the first eight months of the fiscal year (July-June), officials say. Imports cost about $600m - 10 times higher than for the same period the year before. | Rice exports were worth about $5.4m in the first eight months of the fiscal year (July-June), officials say. Imports cost about $600m - 10 times higher than for the same period the year before. |
Officials have said they fear social unrest unless they act over food, and many people have been queuing to buy government-subsidised rice. | Officials have said they fear social unrest unless they act over food, and many people have been queuing to buy government-subsidised rice. |
Bangladesh's most important rice harvest, called Boro, has now begun and the government expects a bumper crop this year. | Bangladesh's most important rice harvest, called Boro, has now begun and the government expects a bumper crop this year. |
Correspondents say this should ease problems, at least in the short term. |