Nineteen countries have extended the ban on exports of 25 food products until December 2023. For Bangladesh, and many other countries all over the world, this is causing an increase in food prices.
Bangladesh has to import rice, wheat, spices, edible oil, oil seeds, pulses and much more. The government is searching for alternative sources for importing essential food products, adding that the government is also discussing with the Indian government regarding import of food products.
Bangladesh relies on various imports from countries, including India, Russia, Morocco and Argentina, that have instituted bans and export taxes on agricultural and food products. India is a particularly significant source for many of these essential commodities. However, the restrictions have caused essential commodity prices to surge manifold in the global market, resulting in a sharp escalation in the cost of daily essentials in Bangladesh.
Source: daily-sun.com