The government plans to provide farmers with nearly Tk 108 crore incentive to encourage them to increase cultivation of high-yielding varieties of rice and produce more grains to meet the growing demand for the staple.

Rice production in Bangladesh grew for the sixth consecutive year in fiscal year (FY) 2022-23 as farmers expanded cultivation areas of high-yielding varieties (HYV) and hybrid rice in place of local varieties.

Farmers have planted hybrid rice on the highest amount of land in the current Boro season, the source of the biggest crop output, to profit from higher production and prices of the staple grain in the market. 

Farmers are showing interest to use more of their lands to cultivate hybrid rice, encouraged by an increase in domestic market prices, said seed sellers yesterday.