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Bangladesh to Take Measures for Avoiding Global Food Price Shocks

Posted on: Sunday, 29 January 2006, 09:00 CST

Bangladesh to take measures for avoiding global food price shocks

DHAKA, Jan. 28 (Xinhua) -- The Bangladeshi government with a fear that being a food importing country it might be affected adversely by any sudden hike in food-grain prices in global market, is thinking to devise protective ways to avoid such shocks.

The food grain prices in the world market is seen vulnerable to probable dwindling production owing to withdrawal of agricultural subsidies in the developed countries, local daily The New Nation reported on Saturday. The current global food production pattern might change on withdrawal of agricultural subsidies in the rich countries, the daily said, adding that farmers in Europe, Canada and the United States will be simply out of business. While India, Brazil, Vietnam, Sudan, Pakistan, Australia, Indonesia and Thailand may get opportunities to emerge as major food grains exporters.

As Bangladesh is densely populated, the risk factor in this regard is very high to it. The green revolution with its tissue culture element facilitated the country to multiply production. But the country is yet to become self-reliant although it is exporting vegetables and fishes.

Agriculture and livestock experts seem to be more preoccupied with tissue culture and crossbreeding. There is high prospect of increasing food production further to survive and respond positively to any steep spiraling of food prices in the world market.

"The reorientation of our agriculture will be the only option when the international prices of food items happen to rise," some experts said, adding, "the policy-making circles are observing the changes in global situation to formulate measures right to tackle any unforeseen problem in the food sector."

Source: Xinhua News Agency - CEIS

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