Food Minister Sadhan Chandra Majumder addressed rice traders, stating, "While the government is preoccupied with elections, the price of rice was increased by Tk. 6 in the country's market within four days. You must lower the price within the next four days."

He emphasised, "During that period, you hiked the price significantly. It is now essential to decrease it similarly. Failure to comply will result in strict legal action, as this price increase is unjustifiable. There is no justification for raising prices during this season."

These remarks were made during a meeting with rice mill owners, wholesale and retail traders, and their representatives, with district and divisional food department officials. The meeting took place in the food directorate’s meeting room on Wednesday, aiming to prevent escalation of paddy prices in the market.

Sources within the food ministry revealed that following the election victory, Prime Minister Sheikh Hasina contacted Indian Prime Minister Narendra Modi, requesting permission to import 18 lakh tonnes of rice. Out of 18 lakh tonnes, 10 lakh would be imported by the private sector, with the government taking charge of the remaining quantity.

However, the BJP government in India declined Prime Minister Hasina's proposal. Subsequently, India announced that its national elections would take place in the middle of this year. Therefore, this request cannot be honoured.

In the fiscal year 2021-22, the country's rice production amounted to 3 crore 58 lakh 50 thousand tonnes. However, the total rice consumption was 3 crore 65 lakh tons during that period. This indicates the country's shortfall of 6.5 lakh tonnes of rice for the last financial year. In the preceding financial year (2020-21), the deficit was 15 lakh tonnes.

The food minister expressed dissatisfaction with traders' explanations for the surge in rice prices during the peak season. He criticised their abrupt and disproportionate increase in rice prices during the government's formation, describing it as immoral.

The minister further highlighted concerns about unscrupulous traders engaging in rice hoarding, emphasising that profit motives solely drive some traders. He questioned the integrity and conscience of those who engage in such practices, labelling the sudden increase of six takas in four days as an indication of greed rather than a justifiable economic rationale.

During this period, the minister inquired of the businessmen whether they could lower the prices within the next four days. In response, the traders assured the food minister of their commitment to reducing prices within the stipulated time frame. The minister emphasised the importance of keeping this promise.

Subsequently, the minister declared, "Those who have stockpiled paddy and rice without a licence will be apprehended. This process has already commenced. No exemptions will be granted, even if the stockholder is my father."

Sadhan Chandra instructed the department and district food controllers, stating, "Start field operations from tomorrow. No business can be conducted without a food grain license. All unlawfully hoarded stocks will be seized and transferred to the government's warehouse. If illegal stock is found, shut the mill or depot."

The minister urged everyone to act on their conscience, sense of duty, and religious principles.

He added, "If the price of rice does not decrease even after these measures, the government will import rice. Discussions are underway with the NBR to explore importing rice at zero duty."