BUFT Journal of Business and Economics

An Evaluation of G-33 Proposal of Public Stockholding for Food Security in the Least Developed Countries: A Case Study on Bangladesh

Department of International Business, University of Dhaka
Email: saifulib@du.ac.bd

Abstract

Purpose: This study evaluates whether food security is a genuine case for public stockholding of rice in Bangladesh and whether the country should make the most of the G-33 proposal as an eligible signatory. Research Methodology: Using a qualitative research approach with descriptive statistics, this study analyses Bangladesh's food security, food self-sufficiency, existing public stockholding policy, and the potential impact of public stockholding of rice on production, market prices, and agricultural trade of Bangladesh. Findings: The findings show that Bangladesh is still positioned at the "serious" hunger level and could not achieve sustainable food self-sufficiency. At various crises, Bangladesh relies on the international market to supplement the required amount of rice, which justifies its rice stockholding for food security. Therefore, this study finds a legitimate ground for Bangladesh to exceed the current de minimis limit set under the AoA and use the provisions of the G-33 proposal only as an interim solution. Practical Implications: This study outlines the legitimate ground for adopting the G-33 proposal of public stockholding for food security in Bangladesh. Originality: This study also extends the theoretical base of the G-33 proposal for Least Developed Countries (LDCs), which are currently non-signatory of this proposal but requires more government support for food security in the country. Limitations: More in-depth research is required to quantify Bangladesh's new de minimis limit if the country wishes to adopt the G-33 proposal as an interim solution.