Bangladesh Wheat imports poised to rise.

Bangladesh wheat imports go up to 57 lakh tonnes in 2016-17 due to record low prices in the international market and comparatively high prices in the local market. The country imported 43.66 lakh tonnes of wheat in fiscal 2015-16. The forecast came after import of the grain rose 45 percent year-on-year to 44.75 lakh tonnes in July-March of fiscal 2016-17. The private sector accounted for 94 percent of the total wheat imports during the period. Bangladesh meets 75 percent of its wheat consumption needs through imports, sourcing lower quality wheat from Russia and Ukraine, and higher quality wheat from Canada, Australia and the US. 40 percent of wheat imported was sourced from Russia and 30 percent from Ukraine during 2016-17. The USDA, however, cut its estimate on wheat production to 12.75 lakh tonnes for fiscal 2016-17 because of a decline in plantation last winter. Wheat production was 13.48 lakh tonnes in fiscal 2015-16, posting marginal gain. The cereal import has been rising fast since fiscal 2012-13 spurred by increased consumption. The country imported 37.84 lakh tonnes of wheat in fiscal 2014-15.