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The government's rice-paddy procurement shows a good trend this Boro season as 63 per cent has so far been achieved with six weeks left to meet the full target.
Millers made better profits amid a rise in the asking rate by the government, helping food ministry to get rice in time, according to insiders.
The ministry has a target to buy 1.25-million tonnes of parboiled rice from millers at Tk 44 a kg and 0.4-million tonnes of paddy from farmers at Tk 30 a kg.
The procurement of 1.65-million tonnes of rice grain this Boro season started in May and it will continue until August 31.
The Directorate General of Food (DGoF) has so far bought 0.9-million tonnes of rice and 0.15-million tonnes of paddy, according to the directorate.
Anwar Hossain, owner of Olima Traders in Nilphamari, said millers were eager to supply rice this year amid a good offer.
The mill-gate price of hybrid and other coarse rice is now Tk 38-40 a kg when the government offered the millers Tk 44 per kg for the same volume.
Mr Hossain said paddy prices were also static for one month as coarse paddy was selling at Tk 1,080-1,120 per maund in Rangpur region.
According to DGoF additional director (procurement) Md Maniruzzaman, the directorate is getting rice easily this year amid good production and the increased asking rate by Tk 4.0 a kg.
Tax at source has also been withheld until June 2024, which is encouraging millers to provide rice in time.
"We have six weeks in hand and are expecting to achieve the target within the deadline," said Mr Maniruzzaman.
He, however, recognised that paddy procurement was unlikely to be fulfilled as farmers were getting good prices in the mainstream market.
He said the target might be met by procuring more rice if farmers did not supply paddy as targeted.
The DGOF targeted to buy 0.1-million tonnes of wheat at Tk 35 per kg, but that almost failed like last year's amid persistent high prices of the grain in the market.
According to DGoF director general Md Shakhawat Hossain, Bangladesh has a record 2.0-million tonnes of food stock, with rice and paddy comprising 1.73-million tonnes, for now.
He said a target was fixed to import 0.5-million tonnes to keep the supply smooth for the government's safety-net programmes.
According to the Trading Corporation of Bangladesh and the Bangladesh Auto Major Husking Mill Owners Association, coarse rice now sells at Tk 38-42 a kg in milling hubs and Tk 50-55 a kg in Dhaka city, almost static for the last two months.