Dhaka, Feb. 4 -- The world rice prices hit a 12-year high in January 2023, raising further concern for the importing countries, according to a latest report of the Food and Agriculture Organisation of the UN (FAO).

Bangladesh's private sector imports have also almost stopped notably in recent weeks, indicating a gloomy prospect for the domestic rice market in coming months following the persisting volatile situation in the global commodity market, said market experts.

FAO All Rice Price Index increased to 126.4 points in January which is 6.2 per cent higher than that of December 2022 and a 12-year high, according to the FAO monthly report on the food grain, published on Friday.

The prices of Indica species, consumed mostly by South Asi...