Bangladesh Rice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

According to the World Bank survey Bangladesh population in 2016 is 162.95 million growing at a rate of 1.09%. The rapidly growing population is the major factor driving the market. The consumption rate of rice in Bangladesh is also increasing year by year. The consumption rate in 2016 was 36.3 million metric ton and is expected to reach 39.7 million metric ton. The specialty rice segment is also increasing at a better pace owing to the increasing disposable income and living standards of the population. The disposible income of the population is also increasing year to year. The per capita disposable income of Bangladesh population in 2016 was 697.73 USD.

Bangladesh rice market is operated by both government and private sector players. The government is bringing various policies and interventions inorder to achieve the self sufficinecy. Regular rice occupies the major share in the Bangladesh rice market, since Aromatic rice is costly and is mainly preferred by the higher economic class. Under the Public Food-grain Distribution System, the government distributes rice both through monetized channels (like the Open Market Sales Program) and through non‐monetized (targeted) channels (such as Food‐for‐Work, the Vulnerable Groups Development Program, and a number of smaller programs).For regular consumption, local varieties, such as Kataribhog, Kataktara, Banshful, Bau-pagal, and Nizershail are preferred.