New Delhi, Mar 28 (KNN) Bangladesh has initiated discussions with India to secure assured annual supplies of five key food commodities, including rice, wheat, onions, ginger, and garlic.

This move aims to tackle fluctuations in market prices and potential shortages within the Bangladeshi market, reported HT.

According to sources familiar with the matter, Dhaka has proposed signing a memorandum of understanding (MoU) with New Delhi to establish fixed quotas for the import of these essential commodities from India. However, the two sides have yet to reach a consensus due to sensitivities surrounding the export of such items.

India has implemented export bans on certain commodities in recent times to cater to domestic requirements. In May 2022, it banned wheat exports, followed by a ban on non-basmati rice exports in July 2023.

Additionally, the government restricted onion exports for nearly four months last December.

Despite these restrictions, India has continued to supply rice, wheat, and onions to neighbouring countries, including Afghanistan, Bangladesh, Bhutan, Nepal, and Sri Lanka, as well as key partners like the United Arab Emirates (UAE), Indonesia, and Vietnam, on a case-by-case basis.

As discussions continue, both sides are working to find common ground that addresses Bangladesh's concerns while respecting India's export policy considerations and domestic requirements.

(KNN Bureau)