Dhaka, June 27 (The Daily Star):
Imports of five commodities that see high demand during
the month of Ramadan rose between 23 percent and 82 percent year-on-year in the
first 10 months of the fiscal year.
In the same period, imports of various types of pulse,
including gram, increased by 23 percent, according to the central bank
statistics. Annual demand for gram is 8 lakh tonnes, 70,000 tonnes of which is
consumed during Ramadan, data from the commerce ministry shows.
Bangladesh has produced 10,000 tonnes of gram and
imported 1.18 lakh tones this year, Commerce Secretary Mahbub Hossain told
reporters yesterday. Letters of credit have been opened for importing another
60,000 tonnes of gram.
Prices of the popular iftar items will not increase
during Ramadan though its demand has gone up, Hossain said.
Gram prices fell 15 percent to Tk 55-60 a kg yesterday
from a year ago, according to a report of the Trading Corporation of
Bangladesh.
The central bank data shows that imports of dates shot up
62 percent in the first 10 months of the fiscal year, while LCs opened for
imports rose 82 percent.
Onion imports went up 76 percent in the same period and
onion worth $153 million was brought in, according to the LC settlement
statistics.
Besides, LCs opened for importing onion increased by 78
percent and LCs have been opened for $165 million for importing the spice used
for preparing iftar items.
Annual demand for onion is 22 lakh tones. In the last
season, the country produced 13.58 lakh tonnes of onion. Onion is imported
mainly from India through land ports.
On average, 200 tonnes of onion are imported a day, the
ministry officials said.
Local onions were selling at 3.85 percent lower than in
the previous year, while the prices of the imported variety marked a rise of
4.84 percent yesterday, according to the TCB report.
In the first 10 months of the current fiscal year, sugar
import was 1.77 percent higher from the corresponding period last year, but the
LC opening increased by around 36
percent and LCs were opened for around $665 million.
LC opening for import of sugar soared on the eve of
Ramadan, a commerce ministry official said.
Annual demand for sugar is 14.5 lakh tonnes. Sugar prices
fell 4 percent to Tk 46-48 a kg yesterday from the previous year.
LCs opened for refined edible oil went up about 30
percent in the first 10 months of 2013-14 from the same period last year, and
LCs worth $455 million were opened for importing different varieties of edible
oil, according to the central bank.
However, LCs opened for crude edible oil amounted to $700
million though it was about 22 percent lower than in the same period last
fiscal year.
Hossain said prices of essentials would not increase in
Ramadan.
The items people consume in large quantities are adequate
in supply, he said. “If the businessmen artificially increase the prices, the
government will intervene in the market through the TCB,” he said.
Necessary steps have been taken so that commodity prices
do not shoot up during Ramadan, he said.
An intelligence agency has already identified the spots
where extortion takes place, he said. “The list has been sent to the home
ministry for taking necessary action.”