Higher import tariffs drive up fruit prices in Bangladesh
Regulation & Compliances
Market & Price Trends
Published Nov 25, 2023
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.
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 production is insufficient. Indian tangerines, now priced at Tk250-Tk260 per kg in various markets, sometimes reaching Tk300, were sold at Tk220-Tk230 during Ramadan this year. In Dhaka's retail markets, imported Malta is at Tk280-Tk300, red grapes ...