Due to the increased transportation costs brought on by the
recent increase in fuel oil prices, movement of commodities via the nation's
main land port, Benapole, has been severely hindered.
Businesspeople at the port claimed that after the increase
in fuel prices, transport companies excessively increased the truck fare.
Because there are currently no trucks available, they are unable to transfer
goods throughout the country, which has caused turmoil in the port's
transportation system.
Importers, transport agents and C & F agents are finding
it difficult to send goods to various places in the country imported from
India.
Meanwhile, passengers of Benapole who returned home from
India have to count additional money as all long route buses have increased the
fare from Tk 200 to Tk 700 in different categories.
Importers said they used to pay Tk 15,000 to 21,000 a trip
of a goods-laden truck from Benapole to Dhaka. But now, owners of the trucks
are charging Tk 25,000 to 28,000 which is too much abnormal compared to the
recent price hike of fuel.
Importers cannot release goods from the port due to a lack
of trucks despite paying duty to the port customs, they lamented.
On the other hand, some importers of Dhaka said they can’t
bring the imported goods to factories because of additional truck fares.
Anwar Ali Anu, an importer of Jashore, said he brought goods
from Benapole to Jashore by truck at Tk 5,000 maximum in the last month. But
now truck owners are charging Tk 11,000 for the same amount of goods.
“This additional truck fare will trigger us to the losses,”
he added.
Benapole Transport Agency Owners’ Association General
Secretary Azim Uddin said importers will have to pay Tk 10,000 additional fare
per truck as fuel cost has increased the pressure on the transport sector.
Echoing the same, Atikuzzaman Sony, president of the
organisation said businessmen don’t get a truck or covered van despite offering
additional fares increasing suffering for the importers.
Benapole Port Importers-Exporters Association president
Mohsin Milon said many businesses are giving additional fares for some goods
which might be rotted.
Comment
In a government move to tame the country’s potato market, a total of 25 tonnes of potato arrived in Bangladesh through Dinajpur’s Hili land port from India on Saturday afternoon.
As a result, the price of potatoes came down by Tk 10-15 per kg at retail markets in the district, reports UNB’s Hili correspondent.
Md Ifsuf Ali, deputy assistant quarantine officer of Hili Land Port Plant Quarantine Centre, said on Wednesday the government decided to import potatoes to rein in the runaway price.
On the same day, importers of Hili land port applied for permission at Khamarbari in Dhaka to import potatoes, he said.
A total of 49 importers of the port got permission to import 34,000 metric tonnes of potatoes from Thursday afternoon while the import started on Saturday afternoon, said the quarantine officer.
Shahidul Islam, an importer at Hili land port, said the price of potato has increased to Tk 40 per kg at retail level, despite the season.
To deal with the situation, the government has decided to import potatoes to keep the market normal in Ramadan. Potato import from India through Hili land port started on Saturday, said the importer, adding that the price of potato decreased to Tk 25-30 per kg
Sources at the land port said that the price of potato went out of control on the pretext of a crisis in the country's market last year.
On October 30, the government allowed importing potatoes from India to keep the situation normal. Since then, the price of imported potatoes has come down in the market.
Following the market stability, the government again stopped importing potatoes through Hili land port from December 15.
-UNB
Comment
Comment
Soybean oil price may go up as Bangladesh Tariff Commission (BTC) is
considering proposal for hiking edible oil price due to higher production
costs.
Bangladesh
Vegetable Oil Refiners and Banaspati Manufacturers Association (BVORBMA), the
association of owners of edible oil refining and marketing companies, has
submitted a proposal to raise soybean oil price by Tk15 per litre.
The oil
refiners argued that traders will count losses due to higher production costs and
price hikes in the global market if soybean oil price is not adjusted.
The
refiners submitted a letter last Tuesday to Commerce Secretary Tapan Kanti
Ghosh, urging the government to readjust the prices by Sunday (tomorrow). The
refiners made the proposal a month after lowering soybean oil price by Tk14 a
litre.
Chief
Executive of BVORBMA, Nurul Islam Molla, told UNB, the situation was described
to the commerce secretary.
After a
meeting with Salman F Rahman, the prime minister's adviser for private industry
and investment on October 3, the association lowered the prices by Tk 14 a
litre. The price of a litre of unbottled soybean oil was set at Tk158, a litre
bottle at Tk178, and a 5-litre bottle at Tk880.
- UNB
Comment
Imports were expected to fall for several months due to the
massive restriction on luxury goods imports. Although the impact is not felt till
August, both imports and exports have declined since September.
According to main line operators of foreign vessels, imports
fell by 12 percent in September and exports by 16 percent compared to August
2022.
According to the main line operators of foreign vessels, in
September 2022, 1 lakh 1 thousand 493 units of import cargo containers arrived at
Chittagong port; In August the amount was 1 lakh 14 thousand 920 units. In
percentage, imports decreased by 12 percent. The import volume in July was 1
lakh 13 thousand 600 units.
Traders say that the reason for the decrease in imports is
that the Board of Revenue has imposed new duties on the import of 135 types of
non-essential and luxury goods last May. Along with these products, banks have
to pay 100% margin to open a credit card for import of less important products.
Which means, traders have to pay 1 crore cash in order to open a credit card of
1 crore Tk. The booking rate of these products abroad has also increased; And
the demand in the country has decreased. Overall, the rate of import of goods fell.
Ajmir Hossain Chowdhury, Head of Operations and Logistics of
Mediterranean Shipping Company (MSC), said that due to strict opening of
credit, volatility in dollar exchange rate and reduced demand, imports have
decreased. This trend may last till December to January.
MA Salam, head of the Asian Group and a garment trader, said
one of the main reasons for the decline in exports was the disruption of the
supply chain due to the Russia-Ukraine war. Also, due to the increase in the
price of products, buyers are more interested in everyday products than luxury
products across Europe.
However, a director of Bangladesh Shipping Agents
Association said that the export rate is low from September-November every
year. It happened this time too. Exports increased by 14 percent in September
2022 compared to September 2021. Exports are now higher than in 2019. I am
hopeful that exports will start to pick up again from November.
Comment
The Bangladesh Energy Regulatory Commission (BERC) on Sunday
announced the new price of liquefied petroleum gas for the month of October, a
drop of Tk2.91 per kg.
A 12-kg LPG cylinder would now cost Tk1200 (instead of
Tk1,235) for retail, according to the revised price.
The prices of LPG for other sizes of cylinders from 5.5 kg
to 45 kg will come down rationally, said BERC chairman Abdul Jalil, who
announced the new price at a virtual press briefing on Sunday.
As per the announcement, the price of auto gas (LPG used for
motor vehicles) was reduced to 55.92 per litre from previous price of Tk 57.55
per litre, down by Tk 1.63 per litre.
The new price will be effective from 6 pm on Sunday (October
2).
Jalil informed that the US Dollar rate was considered at Tk
106.64 in refixing the price of the LPG as private operators import it from
Middle East through foreign currency.
He said though the LPG price has substantially come down in
the global market, consumers are not getting full advantage of the downward
trend due to the high dollar price in the local market.
Last month, the dollar exchange rate was considered Tk104.02
The price of LPG, marketed by state-owned LP Gas Company,
will remain as usual as it is locally produced with a market share of less than
5%.
The LPG price went up to the highest Tk1,439 (a 12kg
cylinder) in the local market, following the start of the Russia-Ukraine war in
February this year.
The LPG price was the lowest at Tk1,225 for a 12kg cylinder
in January this year and it witnessed continuous hikes in February, March and
April.
Comment
In a government move to tame the country’s potato market, a total of 25 tonnes of potato arrived in Bangladesh through Dinajpur’s Hili land port from India on Saturday afternoon. As a result, the price of potatoes came down by Tk 10-15 per kg at retail markets in the district, reports UNB’s Hili correspondent.
The prices of daily essentials are rising alarmingly. The continuous increase in the prices of everyday products is causing distress in the households of middle and lower-income individuals. Staple items like edible oil, rice, lentils, along with newly added items like onions, flour, chicken, vegetables, and eggs are seeing...
Soybean oil price may go up as Bangladesh Tariff Commission (BTC) is considering proposal for hiking edible oil price due to higher production costs. Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association (BVORBMA), the association of owners of edible oil refining and marketing companies, has submitted a proposal to raise soybean oil price by Tk15 per litre.
Imports were expected to fall for several months due to the massive restriction on luxury goods imports. Although the impact is not felt till August, both imports and exports have declined since September. According to main line operators of foreign vessels, imports fell by 12 percent in September and exports by 16 percent compared to August 2022.