War and weather cause food crisis in Bangladesh

EVERYONE in Bangladesh relies on the country producing food to eat. But a staggering number also rely on the Bangladeshi agricultural industry for their job: the sector accounts for around 10% of the economy and it employs around 40% of all workers in the country.

Now that sector – and the food it produces – are under threat. The US/Israeli war on Iran, and the resulting interruption to the safe passage of commercial shipping, has disrupted the supply of fertiliser – leading to significant price rises.

Domestic production of fertiliser came to a standstill earlier this year due to a shortage of natural gas – the primary fuel used to manufacture fertilisers such as ammonia and urea. Production has now resumed, but only slowly. This has forced Bangladesh to buy fertiliser from overseas, putting pressure on foreign currency reserves.

Fuel costs are also up. As the cost of these basic inputs goes up, so the cost of food will go up – hitting consumers hard. The inputs crisis has been compounded by heavy rains and floods. Bangladesh is no stranger to wet weather, but the rains have been harsh this year and yields have been affected by severe flooding.

The price of some types of rice has risen already, and there are fears that the war and weather will combine to increase the price of basic rice too – possibly within days. Farmers and retailers are calling on the Government to intervene to ensure that prices remain stable. It’s not looking hopeful. The Government is insisting that there is currently enough fertiliser in stock to see Bangladesh through the current planting season.

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