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

BUFT Journal of Business & Economics (BJBE), No. 03, Vol. 01, PP. 285-298

14 Pages Posted: 22 Nov 2022

See all articles by Saiful Islam

Saiful Islam

University of Dhaka - Department of International Business

Date Written: October 2, 2022

Abstract

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. 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. 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. This study outlines the legitimate ground for adopting the G-33 proposal of public stockholding for food security in Bangladesh. 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. 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.

Keywords: Agricultural Trade, Bangladesh, Food Security, G33 Proposal, LDC

JEL Classification: F13, H71, Q18

Suggested Citation

Islam, Saiful, An Evaluation of G-33 Proposal of Public Stockholding for Food Security in the Least Developed Countries: A Case Study on Bangladesh (October 2, 2022). BUFT Journal of Business & Economics (BJBE), No. 03, Vol. 01, PP. 285-298, Available at SSRN: https://ssrn.com/abstract=4235670

Saiful Islam (Contact Author)

University of Dhaka - Department of International Business ( email )

Dhaka, 1000
Bangladesh
+8801911463733 (Phone)

HOME PAGE: http://https://du.ac.bd/faculty/faculty_details/INTBS/2099

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