Minister urges quick LCs to boost fruit imports, orders action against any unjustified malta price hike
The minister assured traders that the issue of duties on malta would be reviewed and urged them to explore alternative sources and open LCs quickly to increase supplies in the coming weeks.
Commerce Minister Khandakar Abdul Muktadir has urged fruit importers to open letters of credit (LCs) quickly and increase imports to boost the supply of imported fruits, including oranges and dates, and keep prices under control.
While speaking at a meeting with traders and representatives of relevant government agencies at the Secretariat today (3 October), he expressed dissatisfaction with the current retail price of malta.
The minister asked traders to explain how its price has reached Tk520 per kg after accounting for import costs, duties, taxes, and other expenses.
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Muktadir ordered the Directorate of National Consumer Rights Protection to take action if evidence is found of oranges being sold at unreasonable prices.
Traders said supply shortages are one of the main reasons behind the rise in malta prices.
According to them, only 12 to 29 containers of oranges have arrived in some weeks, while around 15 containers are needed daily to meet normal demand.
Importers also cited high duties, transportation costs, shipping and port-related complications, and losses from previous consignments as reasons for reducing imports.
The minister assured traders that the issue of duties on oranges would be reviewed and urged them to explore alternative sources and open LCs quickly to increase supplies in the coming weeks.
Govt to announce date duty decision this week
The minister also urged traders to prepare for date imports ahead of the upcoming demand.
He said the Bangladesh Trade and Tariff Commission will meet importers within the next few days to address long-standing issues surrounding the assessment value of dates.
The commission will examine international source prices for different qualities and grades of dates imported into Bangladesh and work to determine a reasonable indicative price. The proposal will later be sent to the National Board of Revenue (NBR).
An NBR representative said the actual purchase prices of different qualities and grades of dates vary, but the differences are not always properly reflected in the assessment process.
Date importers said transportation and port-related complications have increased the time required to bring dates to Bangladesh, making an early decision on duties necessary.
Traders assured the government they would increase imports of malta and other foreign fruits from alternative sources.
The government also said it will review reasonable issues related to duties, taxes, assessment, and the import process.
