Higher import tariffs drive up fruit prices in Bangladesh

Fruits

Bangladesh

Regulation & Compliances

Market & Price Trends

Published Nov 25, 2023

Tridge summary

The surge in dollar prices and high import tariffs in Bangladesh have led to a doubling of fruit prices compared to pre-Ukraine war or pandemic times. Importers are facing heavy duties, almost twice the purchase price of fruits, which is impacting the prices at wholesale and retail levels. The increase in import duty on dates has also raised concerns about the cost and availability of this essential item, particularly during the fasting month of Ramadan.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The surge in dollar prices had already driven up fruit prices in the city's retail markets, and the imposition of high import tariffs in the current budget has now caused their prices to double compared to pre-Ukraine war or pandemic times. In Dhaka's retail markets, a kilogram of apples is currently priced between Tk300 and Tk320, which goes up by Tk40-Tk50 at super shops. Apple prices were almost half a year ago. Importers said they purchase one kilogram of apples or oranges for only Tk50 but face a duty of Tk90-Tk100 per kilogram. Wholesalers then buy these fruits from importers at Tk170-Tk190, which further increases to Tk300 or more at the retail level. Traders attribute the significant price hikes to the government's imposition of heavy duties on these imported products at various times. Essentially, the government is imposing tariffs twice the import cost of fruits, they said. Winter typically sees increased demand for tangerines, relying heavily on imports as local ...

Source: TBS