• Additional duties, dollar crunch, LC complications increasing prices
• Allegations of stocking in cold storage without release to the market
• Even if the duty is reduced, the price is not affected
• Due to the fear of loss, the import of dates is less this time
Along with other consumer goods, the market of dates has become unstable with the holy Ramadan ahead. Like the rest of the country, the price of this product is increasing in Chittagong. The price of dates, one of the staples of Ramadan, has increased by more than 100 percent in a year. Due to the current situation, along with the demand for dates, the supply (import) has also decreased, the traders claim. Traders say that the price of dates is increasing due to additional duties, dollar crisis, LC complications.
On the other hand, traders and commission agents complain that the importers have kept the date market unstable. Newly released dates from the port are being stored in cold storage without bringing them to the market.
The largest wholesale and retail market for dates in Chittagong is at BRTC Falmondi in the city. Besides, there is a date business in Khatunganj. Falmondi businessman. Rafiq told Jago News, ‘In the past people used to eat dates only when Ramadan came. Now it is not. Dates are more or less in demand throughout the year. However, the demand for dates increases during Ramadan.’
He said, ‘The global crisis has also affected the country’s market. Dates were not left out. The price of dates has more than doubled this year compared to last year.
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On Sunday (February 25), it was seen on the ground that busy sales are going on in Falmondi palm market ahead of Ramadan. Artdar traders from different districts also flocked to collect dates. Date wholesale market in Chittagong has different varieties and names of dates including Zahedi, Sayyidi, Faridi, Safai, Rashidi, Mashrukh, Mabrur, Nagal, Kudri, Ajwa, Medjul, Mariam, Dabbas, Sukkari. The same dates are also being marketed in different brands in colorful packets.
Falmondi traders say that most dates come from Saudi, Iran, Egypt, Algeria, Tunisia, Dubai. Dates from Saudi, Iran, Egypt are standardized. The price of these dates is also high. Middle quality dates in the market come from Algeria and Tunisia.
Allegations of storing dates in cold storage without leaving the market
At Chittagong Falmondi on Sunday, a 5 kg packet of EZ Nagal brand dates was sold at Tk 2,200 to Tk 2,250, Algerian Dateline Nagal 10 kg packet at Tk 3,200 to Tk 3,250, Tunisian Tetko Faridi five kg packet was sold at Tk 2,200 to Tk 2,000. 250 rupees. Saudian Mashrukh unbranded five kg dates were sold for Tk 3,500 to Tk 3,600. Five kg dates of Mashrukh-B brand were sold for Tk 2,500 to Tk 2,550. Mashrukh VIP was sold for 5 kg at Tk 2,650.
In addition, 5 kg of Kraft brand Iranian Maryam dates were sold for 4 thousand 100 taka, 5 kg of Saudi Galaxy brand Mabroor dates were sold for 7 thousand 700 taka, 3 kg of Saudi Ajwa dates were sold for 5 kg.
4 thousand 300 taka, Egyptian Medjul dates 5 kg 6 600 taka, Saudi Dar Al Hijri brand Kudri dates 1 thousand 780 taka 5 kg, Madina brand Rashidi 5 kg 1 thousand 300 and Saudi Rama brand Zahidi dates 10 kg sold 2 thousand 400 to 2 thousand 500 for Rs. Traders said that the price of these dates was less than half a year ago. They said that Zahedi and Faridi dates are sold more in the market.
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On the other hand, on Monday (February 26) in the market of Khatunganj, Zahedi brand dates are sold for Tk 2,550 per 10 kg packet and the same quantity of Sayyidi dates at Tk 3,700. The traders of Khatunganj say that even two weeks ago, the price of these dates was 300 to 500 taka less per packet.
Alhaj Md., a big trader of dates in Khatunganj and general secretary of Chaktai-Khatunganj Artaddar General Traders Welfare Association. Mohiuddin told Jago News, ‘We buy dates from importers and sell them wholesale in the market. There is no opportunity to increase the price. Importers are raising prices. They are selling the same date at one price today and another price tomorrow. They are not releasing dates from the port and bringing them to the market. Old dates are still being sold in the market. Newly released dates are stored by importers in various cold storage facilities. This is creating a crisis in the main wholesale market. As a result, the price of dates is increasing.
Meanwhile, the government has issued an order to reduce the duty on rice, oil, sugar as well as dates to keep the prices bearable in view of Ramadan. In the circular announced by the National Board of Revenue on February 8, the import duty of dates was reduced by 10 percent. Before February 8, dates were taxed at 25 percent import duty (CD). Currently there is 15 percent done. However, 15 percent VAT, five percent advance income tax (AIT), five percent advance tax (AT) and three percent regulatory duty (RD) remain the same.
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Traders said that although the duty of dates has been reduced, the price is not affected. They say that dates imported in frozen containers have been fixed at an assessment (duty) of four dollars. Apart from this, customs has set the customs value as two and a half dollars for all dates in cartons, two dollars and 75 cents for retail packed dates, two and a half dollars for dry dates imported in sacks and one dollar for wet dates imported in sacks.
Even if the duty is reduced, the price is not affected
Chittagong Falmondi’s biggest trader is M/s Ali General Store. The company’s manager Borhan Uddin told Jago News, ‘To keep the quality of dates good, sometimes they are imported in refrigerated (refrigerated) containers. Whereas dry (ordinary container) container and reefer container freight (shipping) is not so much. A maximum assessment of two dollars 75 cents is made for bringing in a common container. However, in the case of referred containers, the assessment is being done as four dollars. On the one hand, the tariff rate has been reduced by 10 percent, but the customs value has been increased. Even though the import duty has been reduced, there is no impact on the price of dates.’
He said, ‘The demand for dates increases during Ramadan. But this time the demand is very less. Last year LC was done at 105 rupees, now the dollar has to be bought at 125-126 rupees. Only one dollar has to spend 20 rupees more. On the other hand there are complications in doing LC. All in all, the price of dates in the market has increased excessively. Prices have more than doubled compared to last year.
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Organizing Secretary of Bangladesh Fresh Fruits Importers Association and General Secretary of Chittagong Fruit Traders Association Mohammad Touhidul Alam told Jago News, ‘Khejur (wet dates) which were sold at a low price in the market earlier, had to pay custom tax of Tk 10 per kg. Now a duty of 67-68 taka per kg of those dates has to be paid. The government has reduced the duty by Tk 10-12 per kg. But increased by 50-60 rupees.
He said, ‘It takes more than 45 days to get cleared in the country by importing dates through LC. While the duty has been reduced, there is no possibility of importing dates before Ramadan with a fresh LC. So it is not possible to import more dates with the benefit of duty reduction. As a result, those dates which have been LC earlier are released and are gradually coming to the market.
Earlier, which used to be charged at 30 cents, it has been reduced to one dollar. What used to be tolled at 60-70 cents has been made to more than two dollars. A maximum of $4 is also being tolled. As a result, traders have reduced the import of dates due to the fear of loss. Which has an impact on the market as well.
EA/JIM
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