Rice prices in Bangladesh have risen sharply ahead of the national budget announcement, with wholesale and retail prices increasing by up to 10 taka per kilogram over the past month. Traders attribute the surge to manipulation by mill owners and corporate groups, citing the suspension of import letters of credit (LCs) as a key factor. Consumers accuse a syndicate of creating an artificial shortage to raise prices, while mill owners claim reduced paddy supply and rising costs are driving the increase. Government officials, however, maintain that no commodity prices have risen due to the budget.

According to the Trading Corporation of Bangladesh, prices of fine, medium, and coarse rice varieties have increased by 1.29%, 2.50%, and 3.70% respectively in a month. Retailers in Dhaka’s major markets report that all rice types, including Miniket, Atash, and Nazirshail, have become costlier, alongside flour and soybean oil. The Consumer Rights Directorate and the Commerce Ministry have been urged to intensify monitoring to prevent hoarding and manipulation.

Officials from the Food Department said the government has sufficient reserves and can stabilize the market through imports and open market sales if necessary. The Commerce Ministry indicated that strict action may follow if syndicate activity is proven.