Russia has offered to export two lakh tonnes of wheat to Bangladesh, Food Minister Sadhan Chandra Majumder told the House on Thursday, amid soaring prices of everyday essentials in the country.
On Wednesday, Reuters citing officials reported that Bangladesh is trying to secure wheat supplies from Russia in a government-to-government deal after its biggest supplier India banned exports of the grain last month to contain local prices.
The minister came up with the latest statement while responding to a query from Awami League MP Shafiul Islam at Jatiya Sangsad..
The food minister said that due to the war between Ukraine and Russia, the prices of wheat and flour along with various food grains have gone up.
"The foreign ministry is contacting various exporting countries to import wheat. Russia has already offered to export 2 lakh tonnes of wheat," said the minister.
"Besides, a letter has been sent to the Bangladesh High Commission in Delhi to import wheat from India at government and private levels," he added.
The supply deal with Russia, the world's biggest wheat exporter, could help Dhaka in meeting its needs below the elevated global prices, industry officials said.
Bangladesh imports around 7 million tonnes of wheat and last year more than-two thirds of that came from India.
After India's export ban, Bangladesh tried to secure supplies via international tenders but has cancelled them because of high prices.
Bangladesh was paying less than $400 per tonne on the cost and freight basis for Indian wheat, but after the ban other suppliers started quoting above $460, which raised local prices in Bangladesh, said a Mumbai-based dealer with a global trading firm.
The government is struggling to contain soaring commodity prices, with inflation at an eight-year high in May, while the country's wheat stocks hit their lowest in three years at 166,000 tonnes.
The Bangladesh government is struggling to contain soaring commodity prices, with inflation at an eight-year high in May, while the country's wheat stocks hit their lowest in three years at 166,000 tonnes.
