Commerce Minister Khandakar Abdul Muktadir has urged importers to open letters of credit (LCs) quickly and increase imports of maltas, dates and other imported fruits to boost market supply and contain prices in the local market.
He also said the government would announce its decision on duties and taxes on date imports within this week.
The minister made the remarks at a meeting with traders and representatives of relevant government agencies at the Secretariat on Saturday to discuss measures to ensure adequate fruit supplies and stabilise market prices.
Expressing dissatisfaction over the current price of malta (sweet orange) , Muktadir questioned how the retail price could reach Tk520 a kilogram after accounting for import costs, duties, taxes and other expenses.
He directed the Directorate of National Consumers’ Right Protection to take action if it finds evidence of maltas being sold at unjustifiably high prices.
“There will be no scope for unjustified price hikes in the market,” he said.
Supply shortage drives up orange prices
At the meeting, traders attributed the rise in malta prices mainly to inadequate supplies.
They said Bangladesh received only 12 to 29 containers of oranges in some weeks, while around 15 containers are required every day to meet normal demand.
Importers said high duties, transportation costs, shipping and port-related complications, and losses from previous consignments had prompted many traders to reduce imports.
They also pointed to the financial risks involved in importing perishable products, particularly during transportation and storage.
After hearing the traders, the commerce minister assured them that the issue of duties on maltas would be reviewed.
He also urged importers to explore alternative sources and open LCs without delay so that supplies could increase in the market over the next few weeks.
Govt moves to resolve date valuation issue
The minister asked traders to start preparations for importing dates ahead of the upcoming demand season.
He said the government’s decision on duties on dates would be announced this week.
The government has also taken an initiative to resolve longstanding complications surrounding the assessment value of imported dates.
The Bangladesh Trade and Tariff Commission will hold a meeting with date importers within the next few days to examine the issue.
The meeting will review international source prices for different qualities and grades of dates imported into Bangladesh and seek to establish a reasonable benchmark price.
A proposal will then be sent to the National Board of Revenue (NBR).
The minister said the customs valuation system should prevent businesses from being subjected to unreasonable assessments while also ensuring that importers cannot evade revenue by declaring artificially low prices.
He urged both government agencies and businesses to maintain transparency and integrity, saying attempts at manipulation by either side could undermine confidence in the system.
An NBR representative said the actual purchase prices of different grades and qualities of dates vary, but the differences are not always adequately reflected in customs assessments.
The meeting discussed using international market prices and source prices to establish more realistic assessment values.
Date importers said shipping and port-related complications were causing consignments to take longer to reach Bangladesh than before. They called for an early decision on duties to ensure adequate supplies arrive in time to meet demand.
Traders also assured the government that they would increase imports of oranges and other foreign fruits from alternative sources.
The government, meanwhile, said it would review reasonable concerns related to duties and taxes, customs valuation and import procedures.
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.
