The government justifies the move with the “need to create a transparent mechanism for the import of rice and wheat, and to consequently eliminate the illegal export of foreign currency.
The country has benefited from the trade war between China and the United States, in which China has shifted most of its purchases to Brazil and Argentina.
Lower prices are likely to provide relief to price-sensitive consumers in Africa and parts of Asia
In a recent report, the Foreign Agricultural Service (FAS) of the US Department of Agriculture noted the potential for US corn sales in Bangladesh due to price competitiveness in marketing year 2025-26.
Despite the recent monthly declines, the FAO noted that for the full year 2025 the FFPI averaged 127.2 points, up 4.3% from the 2024 average