No major food shortage in Bangladesh: WB...

No major food shortage in Bangladesh: WB

  Staff Correspondent

 Published: 11:35 AM, 19 August 2022   Updated: 12:24 PM, 19 August 2022



Although food price inflation remains at a multiyear high in South Asian countries, there is no major food shortage in Bangladesh as of July. World Bank praised the various steps taken by the Bangladesh government in food security.

This information was given in a press release sent from the headquarters of the organization in Washington on Thursday.

According to the report, food price inflation reached 8.3 percent in Bangladesh, 80 percent in Sri Lanka, and 26 percent in Pakistan.

According to the World Bank, the Bangladesh government has adjusted its agricultural policy to deal with food security.

The organization also says the Bangladesh government has reduced import duties on rice, increased budget allocations to the agricultural sector, increased subsidies on fertilizers and offered a cash incentive to exporters.

In a press release, the organization said that although there is no food shortage in Bangladesh, the condition of the neighboring countries is not good. Wheat and rice production in Pakistan has declined slightly due to lack of fertilizer and heat wave. Bhutan and Sri Lanka have significant food supply shortages. Agricultural production in Sri Lanka has decreased by 40 to 50 percent. This situation has happened due to the shortage of fertilizers and the impact of foreign exchange on food imports. The World Bank fears that fertilizer and fuel shortages will further limit food supplies. 

Some relief is coming from the first shipment of 44,000 tonnes of urea supported by Indian credit (and 21,000 tonnes is expected to arrive soon), the world bank said.