News

Bangladesh: High costs leave green chilli import hesitant

Dried Whole Chili Pepper
Vegetables
Bangladesh
Published Jul 11, 2023

Tridge summary

Green-chilli prices in Bangladesh have shown volatility due to importers being hesitant to bring in the produce due to rising costs in India and high customs duties. Some importers are under-invoicing to evade higher import duties. The soaring prices of green chillies are a result of a decline in local production, lower imports, and price manipulation by traders.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Green-chilli prices continue to exhibit volatility as importers hesitate to bring in the produce due to rising costs in neighbouring India and high customs duties, according to insiders. They also alleged that some importers are resorting to under-invoicing to evade higher import duties. As of Monday, the retail price of green chillies remained as high as Tk 300-450 per kilogram in Dhaka and other regions of the country. Just a week ago, the price skyrocketed to Tk 800-1000 per kilogram, as reported by the Department of Agricultural Marketing. Value chain experts attributed the soaring prices of green chillies to a significant decline in local production, coupled with lower imports and price manipulation by traders. Moksedul Sarker, the proprietor of Ovi Traders in Rajshahi, told the FE that he brought in seven tonnes of green chilli through Sonamashjid port in the last week of June. Interestingly, he incurred losses of Tk 30-32 per kilogram. He did not disclose the import costs ...
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