The impact of staple crop price instability and fragmented policy on food security and sustainable development: a case study from Bangladesh

This study aimed to analyze price instability in Bangladesh's primary staple crops, rice, and wheat, focusing on (1) the effects of food price volatility and inflation on food security and; (2) the importance of prioritizing food price stability in national policy. Using data from the Food and Agriculture Organization's (FAO) Global Information and Early Warning System (GIEWS), the Ministry of Food, and the Bangladesh Bureau of Statistics (BBS), we examined price trends, seasonality, volatility, consumer price index, and food inflation. Our findings show that medium-grade rice in Dhaka experienced frequent price spikes and volatility, with coarse-grade rice showing similar trends. Wheat prices were generally more stable compared to rice. Despite increased rice production over the years, significant price instability and seasonal fluctuations continue in production, imports, and pricing. Seasonality has a limited effect on rice prices, while the private sector dominates imports of both rice and wheat. The consumer price index (CPI) demonstrates that food inflation is gradually rising in rural areas and corresponds with the trend in urban Bangladesh. A review of national policy reveals that food stability, a key pillar of food security, is often overlooked, with no structured system for monitoring market prices. Integrating agricultural and climate policies could enhance resilience and productivity in agriculture. To combat hunger and support sustainable development, the government should monitor both global and local food markets, accounting for demand, scarcity, and market instability. To achieve Sustainable Development Goal (SDG) 2 (Zero Hunger) and ensure food security, the government must update existing policies to address market contradictions.