Chattogram: The prices of different varieties of dates have dropped by 30 to 40 percent as import has witnessed a surge following a duty cut by 10 percent. While talking to BSS during a visit to Falmondi at Station Road and Reazuddin Bazar, the main domestic and imported fruit selling points in Chattogram, importers and wholesale-traders said that there is no chance of further increase in date prices like previous years before or during Ramadan. Rather, the price is likely to fall further during Ramadan.
According to Bangladesh Sangbad Sangstha, the surge in imports is primarily due to the government cutting the import duty by 10 percent, alongside other facilities such as a reduction in the US Dollar margin for opening Letters of Credit (L/Cs). This has allowed more small importers to enter the market compared to last year, when issues like the US dollar crisis, exchange rate fluctuations, and liquidity shortages drove them out.
Market sources report that the price of small-sized soft dates, known locally as “soft plums dates,” has decreased by Tk 30-Tk 40 per kilogram, now selling at Tk 120-Tk 130. Prices for Iraqi Zayedi dates, which are in high demand, have dropped by Tk 150-Tk 180 to Tk 350-Tk 370 per kg. Ajowa dates have seen a price reduction of Tk 200-Tk 250 per kg, now costing Tk 600-Tk 800. Medjol dates have decreased by Tk 300-Tk 450 per kg, available for Tk 900-Tk 950. Mabrum dates are selling for Tk 1,200 per kg after a Tk 400 decrease.
Md. Kamal Uddin, Senior Vice President of the Bangladesh Fresh Fruits Importers Association, noted that small importers have significantly increased their imports due to the relaxed conditions. Last year’s market was manipulated by syndicates, including Haji Selim’s Medina Firm and Nazrul Islam Majumder’s NASA, leading to high prices.
Md Mohiuddin, General Secretary of the Chaktai-Khatunganj Aratdar General Traders’ Association, expressed satisfaction with the current market, attributing the positive changes to the increased participation of small importers. He assured that buyers need not worry about price hikes during Ramadan.
Md Sumon, a trader at Reazuddin Bazar, confirmed the likelihood of further price reductions and commended the government’s monitoring efforts. He stated that this year, prices would remain low even at the beginning of Ramadan.
The Fresh Fruits Association reports that the annual demand for dates in the country is between 60 to 90 thousand tons, with 40 thousand tons needed during Ramadan. Most dates are imported from countries like Saudi Arabia, the UAE, Tunisia, and Iraq, with Iraqi Zayedi dates being the most popular. In the last 48 days, 31,643 metric tons of dates have been imported, meeting over 75 percent of Ramadan’s demand.
According to the Shanga Nirod Kendra of Chattogram Port Authority, imported dates began arriving at the port two months ahead of Ramadan, as they are perishable. This year, 37,570 metric tons have already been imported, with an additional 18 to 20 thousand metric tons expected before and during Ramadan.