Market traders have recently deceived consumers about the quality and fair price of rice in Bangladesh, causing serious health concerns and unintended financial losses for consumers. Therefore, this study explores the availability, market share and concentration, and traces the varietal origin of popular rice brands on the market. Primary data were collected through an intensive survey with rice farmers, paddy and rice traders, and millers. Herfindahl-Hirschman Index (HHI) was used to estimate the market share and concentration of available rice brands. We employed a snowball sampling technique and completed 30 different supply chains as case studies to get the varietal sources of different rice brands. Results show that "BR28" was the most popular rice brand contributing about 40% of available rice in the Upazila level market, followed by "Miniket" (17.7%), "Swarna" (14.5%), "BR29" (12.1%), and "Pajam" (6.1%). Whereas, in the city markets, the contribution of "Miniket" was the highest (33.5%), followed by "BR28" (19.4%), Zira (19.2%), "Nazir" (8.5%), and "Katari" (5.2%). The traders and consumers did not confirm any specific variety against the available popular rice brands in the markets. We have explored the varietal origin by tracking the supply flow and found that the brand name "Miniket" was given by millers to each and every kind of rice that falls under the medium-slender type grain category. The market traders concentrated on producing the top 4-5 rice brands without exercising competition. Producing rice brands by over-polishing and receiving returns from by-products is indeed a double-edged benefit for the millers. Whereas, the consumers are paying more for the finer polished rice without considering the nutritional value. Therefore, strong market regulations, notably on rice milling and branding, should be enforced to protect against adverse health concerns and financial losses, and also for ensuring food and nutrition security in Bangladesh.