Bangladesh Wheat Imports Predicted to Fall 11% Amid High Prices

Bangladesh's wheat imports are expected to fall by 11 percent in the upcoming marketing year due to high global prices and large stocks, according to a report from the United States Department of Agriculture (USDA).

The country relies on imports for more than 80 percent of its wheat-based food needs. The USDA reports that Bangladesh imported 74 lakh tonnes of wheat in the previous marketing year.

Global supply and trade flows have become less predictable due to disruptions to grain shipments from Russia and Ukraine, increasing market volatility and export prices. US wheat export prices have increased by $26 per tonne since July, reaching a high of more than Tk 39,500 ($321) per tonne in August.

The USDA notes that Bangladesh's wheat import market is highly price-sensitive, which will likely reduce demand as global prices remain elevated. Private sector imports rose significantly last year, pushing total imports to a record high. Private millers and traders are now holding substantial stocks, reducing the need for fresh imports this year.