Govt pushes fruit imports as orange prices soar

Commerce Minister Khandakar Abdul Muktadir urged fruit importers to expedite letters of credit (LCs) and boost imports of dates, oranges, and other fruits to stabilise market prices.

Speaking at a Secretariat meeting with traders and government agencies to address fruit supply, Muktadir on Saturday also announced that a decision regarding duties and taxes on dates would be released this week.

Expressing dissatisfaction over current orange prices, the minister pressed traders to explain why retail prices had reached Tk520 per kg despite import costs, duties, and taxes. 

He directed the Directorate of National Consumers’ Right Protection to take firm action against unjustified price hikes.

In response, traders cited supply shortages as a primary driver behind the price surge.

They said only 12 to 29 containers of oranges had arrived in the country in some weeks, while around 15 containers were needed every day to meet normal demand.

Importers said many traders had reduced orange imports because of high duties, transportation costs, shipping and port-related complications, and losses incurred on previous consignments.

They also pointed out that oranges, being perishable, carry significant financial risks during transportation and storage.

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After hearing the traders, the commerce minister assured them that the issue of duties on oranges would be reviewed. 

He also urged importers to diversify import sources and open LCs quickly to increase market supply over the next few weeks.

Minister urges traders to prepare for date imports

With demand expected to rise, the commerce minister urged traders to begin preparations for date imports immediately. 

He said the government’s decision on duties and taxes on dates would be announced this week.

The government has also taken an initiative to resolve longstanding complexities surrounding the assessment value of imported dates. 

As part of the initiative, the Bangladesh Trade and Tariff Commission will hold a meeting with importers within the next few days.

The commission will seek to verify international source prices for different qualities and grades of dates imported into Bangladesh and determine reasonable indicative prices. A proposal will then be sent to the National Board of Revenue (NBR).

The commerce minister said the duty assessment system should ensure that traders do not face unreasonable valuations while leaving no scope for revenue evasion through under-invoicing of imported products.

Calling on both government agencies and businesses to act transparently and honestly, he said manipulation by either side could create a crisis of confidence in the system.

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An NBR representative said the actual purchase prices of different qualities and grades of dates varied, but those differences were not always properly reflected in customs assessments. 

The meeting therefore discussed taking international market and source prices into account when determining realistic assessment values.

Date importers said international transportation and port-related complications were causing shipments to take longer to reach Bangladesh than before. 

They said a quick decision on duties was therefore necessary to ensure adequate imports in time.

Traders assured the government that they would increase imports of oranges and other foreign fruits from alternative sources. 

The government, for its part, said it would review reasonable concerns related to duties and taxes, customs assessment and the import process.

Commerce Ministry Secretary Md Ataur Rahman Khan, Bangladesh Trade and Tariff Commission Chairman Nasir Uddoula, Directorate of National Consumers’ Right Protection Director General Md Zahirul Islam, an NBR representative, senior Commerce Ministry officials and leaders of the Bangladesh Fresh Fruits Importers Association attended the meeting.