Business still not as usual at Khatunganj

Trading at Chattogram's Khatunganj, the largest wholesale market for consumer goods in the country, has yet to gain momentum yesterday, three days after the formation of the interim government.

Traders say they are experiencing only 20-30% of their regular sales. Khatunganj usually sees transactions of Tk2,000-2,500 crore a day. Due to the deterioration of the law and order situation centring the quota reform movement and the ouster of the Sheikh Hasina government, the market has been facing low transactions for the last three weeks, they said.

Traders said that only local customers are making purchases, with big dealers staying away from the market. As a result, sales have dropped to Tk300-500 crore a day, which means the sales dropped by about 75%.

They said they are counting losses as a result of the slump in sales. Additionally, due to the reduced sales, prices of several goods have also dropped in the last week.

Shahadat Hossain, owner of AH Trading, told The Business Standard that he sold good quality onions at Tk95 per Kg last week. "But, now we cannot sell it even at Tk75 per Kg," he added.

"Usually I sell 200-300 sacks of onion, but today (Sunday) I sold only 20 sacks. My sales have dropped almost 90%", Shahadat said.

Nurul Islam, a sugar dealer, said, "Usually the brokers call us to buy sugar. As there is hardly any customers in the market, now we have to call the brokers and customers to sell sugar."

He added, "Usually I sell 100-200 tonnes of sugar a day. Today I sold only 20 tonnes."

Sayed Sagir Ahmed, general secretary of the Khatunganj Trade Association, told The Business Standard yesterday that the trade is yet to pick up as police are yet to fully resume operations.

"Out of fear of security lapses, traders from different parts of the country are not coming to the market, which is the main reason behind the poor sales," he said.

"There is no hope of increased sales until the law and order situation comes under full control."