This year, Bangladeshi farmers are getting more money for their newly harvested boro rice than last year because strong demand has pushed market prices upward.
Farmers, traders, and mil owners indicate that a favorable yield, coupled with increased early season demand from mills, substantial inflation, and higher production costs, have contributed to the current rise in paddy prices.
The Boro paddy crop is a major contributor to Bangladesh’s rice supply, making up around 55 percent of the yearly total, its growing season generally lasts from December to April.
This season, the average national price for Boro paddy, as reported by the Department of Agricultural Marketing (DAM), is Tk 1.25 to 1.79 higher per kilogram than the average price last season.
Compared to April 2024, when it was Tk 33.95 per kilogram rice of the fine Boro paddy in April of the current year increased to Tk 35.74 per kilogram.
The price of medium-sized paddy saw a slight uptick, moving from Tk 30.64 to Tk 30.89, and coarse prices also increased, from Tk 26.35 to Tk 27.60.
The Department of Agriculture Extension reports that this season’s Boro paddy cultivation covers 5.069 million hectares, and the targeted output is 22.6 million tonnes.
This season, farmers from different districts known for Boro cultivation stated that they received between Tk 840 and Tk 1050 for every maund of paddy (roughly 40 kg)
They also indicated that during a similar timeframe in the prior year, paddy was being sold for Tk 770 to Tk 1000 per maund.
A farmer explained that he’s getting Tk 1020 to Tk 1050 per maund for his medium Boro paddy this season, which is higher than the Tk 950 to Tk 1000 he received last year.
He noted that the good harvest, combined with the higher market prices, has yielded him a good profit.
Additionally, he mentioned that his Boro paddy cultivation this season covered 120 kathas (equivalent to 720 square feet each), from which he harvested 9 to 10 maunds per katha, adding that 90% of the harvest was complete.
A rice miller commented that he started buying medium-sized Boro paddy at Tk 1050 per maund at the beginning of the last season, and the price has reached Tk 1350 per maund by the end of that season.
In the current season, he has been purchasing paddy at a price of Tk 1150 per maund.
Because all the mills started running at the same time as the harvests commenced, demand rose, inevitably pushing prices upward since all the millers began buying paddy simultaneously, he stated.
Notably, he also added that prices are likely to go up even more in a fortnight when dried paddy becomes available in the market.