Bangladesh’s US wheat intake rises to 239,586 tonnes
Bangladesh has received the fourth consignment of wheat from the United States (US) bought under a state-to-state contract. A ship, MV Lowlands Patrasche, carrying 60,950 tonnes of the grain, arrived on Thursday at Chattogram Port.
With this, total shipments of wheat from the US stand at 239,586 tonnes so far.
The first shipment of 56,959 tonnes arrived on October 25, followed by 60,802 tonnes on November 3 and 60,875 tonnes on November 15, according to a press release.
Bangladesh started importing wheat from the US this year on a government-to-government basis, aiming to protect Bangladesh's exports to America and reduce the trade deficit, which is currently in Bangladesh's favour.
Last week, the Advisers' Council on Government Purchase gave approval to the food ministry to procure another 220,000 tonnes of wheat from the US under a government-to-government arrangement to strengthen public food stocks and ensure a sufficient supply for social safety net programmes.
Bangladesh Bank has eased procedures, allowing industrial importers to bring in capital goods on a usance term of up to three years without requiring prior approval from the Bangladesh Investment Development Authority (Bida).
The central bank issued a circular today referencing the decision of the 186th meeting of the Scrutiny Committee on Foreign Loan/Supplier's Credit of Bida, chaired by the Bangladesh Bank governor.
The new instruction aims to simplify access to import finance for industries against the import of capital goods for a tenor of three years.
Presently, a three-year tenor is allowed only for the import of capital machinery.
Industry insiders noted that the latest decision removes procedural hurdles, enabling businesses to import capital goods—such as ships and equipment—on up to three-year usance terms.
This, they said, will significantly improve investment planning and support capacity expansion in key productive sectors.
