[🇧🇩] Agriculture in Bangladesh

[Saif]

Price hike of rice in peak harvesting season

A fresh spurt in rice price right in the peak harvesting time is unexpected but not ruled out altogether. It may happen if the harvest is very poor and there is no arrangement for supplementing the anticipated shortfall of the staple cereal. But as many as 277 private importers have been given perm

thefinancialexpress.com.bd

Price hike of rice in peak harvesting season
Neil Ray
Published :
Jan 05, 2025 22:06
Updated :
Jan 05, 2025 22:06

A fresh spurt in rice price right in the peak harvesting time is unexpected but not ruled out altogether. It may happen if the harvest is very poor and there is no arrangement for supplementing the anticipated shortfall of the staple cereal. But as many as 277 private importers have been given permission to import 1.481 million tonnes of rice. According to another report, private importers have taken permission for importing 1.6 million tonnes of rice from India. As part of an effort to arrest the price hike of the staple, the National Board of Revenue (NBR) also withdrew import duties and regulatory taxes on import of rice. Accordingly, the import started on November 13 with 27,000 tonnes of rice arriving at Chittagong Port in the first consignment. Truck-loads of rice started arriving in the country from November 17.

Notwithstanding the government's sincere efforts, price hike could not be contained either in the pre-harvest or at this peak harvesting time. This defies logic. The duty waiver was not granted for the importers and rice traders to benefit from. It was done to give some relief to the consumers. But the traders and importers have, as always, their excuses to dictate terms and raise prices. This time they say that rice price is higher in India and they had to import rice at higher prices. How much higher that is? Another report carried in a Bangla contemporary has it that the imported rice through Benapole port was priced at $410 per tonne. The import cost for a kilogram of rice thus comes to Tk 50-51. Understandably, this variety is coarse. The price of which was in the range of Tk55-58 has now shot up to Tk60-62. The medium quality and finer varieties have registered price escalation by Tk5.0-6.0 and Tk6.0-8.0 respectively.

The question is, why should the duty waiver not have any reflection on the staple's price? If the duty waiver has the opposite effect on the price trend, it means the importers and traders want to have their cake and eat it too. They have their intrigues to do so. When the rice market was jittery during the pre-harvest period, the importers deliberately delayed import of the cereal. Now another dimension has been added to the ploy. Anticipating rice shortfall in the lean season, millers and stockists are in an intense competition to raise their stocks. So, at least farmers growing rice are getting a good price. This time they are doubly happy because following the floods, the weather was good for the planted Aman crop and also pest attack was hardly reported. Thus the increased acreage of Aman cultivation and good harvest together have favoured cultivators of Aman paddy.

It is against this background, importers and stockists and millers are trying to build stocks of their own in the hope that they can take full advantage of the market by taking control of the supply chain. Of course, they will do so collectively but right now they are competitors because the bigger the stock is, the greater the profit. In fact, those involved in trade syndicates are a species lacking in responsibility and any consideration for the country and their compatriots. Their only concern is for profit at its maximum. They have been practising such outrageous manipulation and manoeuvring for long and will not give up unless they are forced to.

The only way is to bring their letters of credit (LC) and other related documents under closer scrutiny and compare the stated prices with the export price of the source country. India is not a distant country and international prices set for export is no secret. So it would be in the fitness of thing to do this leg work by the food ministry and other authorities concerned. Importers must be made to readjust the runaway prices on the basis of importing cost in order to restrain them from reaping outrageous profits.​

 

[Saif]

Tk 9,391cr in farm loans disbursed in 4 months

Banks disbursed Tk 9,391 crore in agricultural loans in July-October of the 2024-25 financial year, which accounts for 24.71 per cent of the total disbursement target for FY25, according to Bangladesh Bank data...

www.newagebd.net

Tk 9,391cr in farm loans disbursed in 4 months
Staff Correspondent 07 January, 2025, 22:49

Focus bangla file photo

Banks disbursed Tk 9,391 crore in agricultural loans in July-October of the 2024-25 financial year, which accounts for 24.71 per cent of the total disbursement target for FY25, according to Bangladesh Bank data.

The recovery amount of agricultural loans reached Tk 28,949 crore in the 4 months of FY24, which was 14.9 per cent higher than that of the same period of the preceding year.

The disbursement target for agricultural credit in FY25 was Tk 38,000 crore, an increase of 8.75 per cent from the previous financial year’s target of Tk 35,000 crore.

The outstanding balance, including interest, stood at Tk 55,084 crore in July-October, marking a 0.4-per cent increase from the previous financial year.

Overdue of agricultural credit stood at Tk 11,931 crore at the end of October 2024, which is 40 per cent higher than the overdue of Tk 8521 crore at the end of October 2023.

With the increased demand for farm loans, the BB set the target for state-owned commercial and specialised banks at Tk 12,615 crore and for private and foreign banks at Tk 25,385 crore, the officials said.

Additionally, 60 per cent of the total target must be allocated to crops and grains, 13 per cent to fisheries and 15 per cent to livestock.

The central bank set the farm loan release target to increase agricultural production to control inflationary pressures and achieve gross domestic product growth target.

More than 40 per cent of the country’s workforce is directly employed in the agriculture sector.

Farm loans enable farmers to invest in inputs like seeds, fertilisers and machinery, leading to increased productivity and economic growth.

Farm loans also contribute to rural development by providing income opportunities and improving infrastructure in rural areas.

On May 22, 2022, the central bank instructed the country’s banks to disburse agricultural credit at a concessional interest rate of 4 per cent for cultivating import substitute crops, including pulses, oilseeds, spices and maize.

In FY23, farmers received Tk 32,829 crore in loans and repaid Tk 33,010 crore.

Most of these loans were channelled through NGOs, which charge interest rates ranging from 24 to 30 per cent.

To address the challenge of reaching remote areas, banks allocated loan amounts to NGOs.

To encourage direct lending to farmers, the Bangladesh Bank has instructed banks to disburse a minimum of 50 per cent of their total disbursements through their own channels.

Banks disbursed Tk 37,154 crore in agricultural and rural loans in the past financial year, surpassing the target of Tk 35,000 crore by 106.15 per cent compared with Tk 32,830 crore disbursed in the previous financial year.​

 

[Saif]

Don’t transplant Boro seedlings during cold spell: DAE

The Department of Agricultural Extension (DAE) has advised farmers not to transplant seedlings of Boro paddy during the cold spell.

www.thedailystar.net

Don’t transplant Boro seedlings during cold spell: DAE

The ongoing cold wave may affect the cultivation of dry-season Boro rice and increase the risk of pest attacks on potato and mustard fields. The photo was taken from Aditmari upazila in Lalmonirhat yesterday. Photo: S DILIP ROY

The Department of Agricultural Extension (DAE) has advised farmers not to transplant seedlings of Boro paddy during the cold spell.

The advisory comes as the country is likely to see a cold wave from today, affecting the cultivation of the dry-season rice Boro and increasing the risk of pest attacks on potatoes and mustard in the fields.

The weather office earlier this month forecast a cold spell for a couple of days.

The DAE targets to ensure the cultivation of the dry-season variety of the food staple on 50.69 lakh hectares so that 2.26 crore tonnes of rice can be produced in the current fiscal year, said Sarker Shafi Uddin Ahmed, director-in-charge of the Field Service Wing of the DAE.

Boro production rose by 1.45 percent year-on-year to 2.10 crore tonnes in fiscal year 2023-24.

The dry-season Boro, which accounts for roughly 55 percent of total annual rice production, is cultivated between December and January and harvested mainly in May.

In its advisory, the Bangladesh Agro-Meteorological Information Service (BAMIS), a project under the DAE, suggested that farmers use transparent polythene to cover the seedlings for protection from fog if sunlight is visible during the day.

Besides, water should be removed from the fields every morning during the cold spell. BAMIS advises using tube-well water in a way that keeps the seedlings above the water level.

The DAE said that seedlings may suffer from blight diseases -- a bacterial disease that can severely damage crops.

It suggests using fungicide and spraying to control the disease.

The agency said that unfavourable weather may also cause pest attacks on potatoes, one of the most widely consumed vegetables, and mustard, the main oilseed crop in Bangladesh.

In its weather forecast yesterday, the Bangladesh Meteorological Department (BMD) said that weather across the country is likely to remain mainly dry with temporary partly cloudy skies.

It said that moderate to dense fog may occur across the country from midnight to morning and may continue until tomorrow.​

 

[Saif]

Farm exports this FY promise billion-dollar earnings again

Bangladesh's agricultural-product export in the first half of this fiscal rebounded and showed hope of crossing a billion-dollar turnover in the terminal months of the year, insiders said Friday. After a falling trend over the last couple of years, the shipment of the country's homegrown agr

thefinancialexpress.com.bd

Farm exports this FY promise billion-dollar earnings again
FHM HUAMAYN KABIR
Published :
Jan 11, 2025 00:18
Updated :
Jan 11, 2025 00:18

Bangladesh's agricultural-product export in the first half of this fiscal rebounded and showed hope of crossing a billion-dollar turnover in the terminal months of the year, insiders said Friday.

After a falling trend over the last couple of years, the shipment of the country's homegrown agricultural produce showed a stunning performance during July-December period of the current FY2025, an FE analysis has found.

During the H1 this fiscal, the export of the agricultural produce like vegetables, fruits, tea, spices and tobacco recorded a 9.31-percent growth over the corresponding period of last FY2024, Export Promotion Bureau (EPB) data showed.

Bangladeshi entrepreneurs had made shipments worth US$595.51 million during H1. In the same period (July-Dec) last FY2024, the shipment volume was worth $544.77 million, the data showed.

Fruits, tea, spices, tobacco, and animal and vegetable fats dominated the earnings from agricultural exports, according to the export analysis.

Farmers, entrepreneurs, exporters, analysts and policymakers find a bright future for the country's agro-products to grab a substantial share in $1.90-trillion global market.

In 2022, the global value of agricultural exports (excluding fish) was $1,903 billion. This was a 2.9-fold increase from 2005, United Nation's FAO report showed.

The United States is the largest exporters of farm and food products to the world, totaled nearly $175 billion, although its growth was down to 11 per cent from the 2022 record, USFDA report says.

After entering into the billion-dollar-export-earners club for the first time in Bangladesh's history during the FY2021 and FY2022, the agricultural produce shipments found a fall in the FY2023 and FY2024.

During FY2021 and FY2022, the export earnings from the agricultural goods and relevant processed foods were $1.028 billion and $1.162 billion respectively, EPB statistics showed.

In the subsequent FY2023 and FY2024, the earnings had fallen below the billion-dollar mark with earnings of $ 834.03 million and $964.34 million respectively, the official statistics showed.

The export earnings in the H1 of this FY2025 showed a bright light again as it had already fetched a $595.51 million worth of income.

Market-insiders say the earnings from Bangladesh's agricultural produce and processed foods, the highest value-added items, are likely to get back in the billion-dollar trajectory again in the current fiscal.

They say the reentry of agricultural produce exports into the billion-dollar-earner club "has lit up a new hope for the country's much-needed export-basket diversification", away from overdependence on readymade garments.

The apparel sector has been single-largest export earner for Bangladesh for more than three decades, contributing around 80 per cent to the aggregate export earnings.

It's good news for the country that its businessmen are trying to diversify their exportable products in overseas markets, cutting dependence on the single-largest export item-RMG-the analysts say.

According to the EPB, although the export of vegetables and some other key items dropped in H1 this fiscal, the ago-produce like dry food ($110.93 million), tobacco ($178.47 million), spices ($29.82 million), animal or vegetable fats and oils ($96.17 million), and beverages, spirits and vinegar ($15.43 million) performed well on the export market last year.

Khurshid Ahmad Farhad, General Manager of Bombay Sweets & Company Ltd, says agro-product exports will be growing in the future days as Bangladesh's many medium to big companies are now trying to expand their market overseas, with agro-processing industries flourishing and holding high prospects.

Mr Farhad has outlined two main reasons for expanding the Bangladesh export market in the global chain-firstly, the big conglomerate has aggressively trying to attract their products in the overseas markets and, secondly, there are increasing numbers of Bangladeshi Diaspora in different countries across the globe.

The big companies are trying to improve the quality of production and grab the overseas markets which helping to expand the merchandise shipment, he added.

"Our company is also expanding its capacity and diversifying the products eying foreign alongside its local markets. We are hopeful of getting a big boost in the export volume within next couple of years," Mr Farhad says.

Bangladesh's Pran-RFL Group, Square Group, Olympic, Bombay Sweets, Acme, and Akij Group are in the race of agricultural-product export.

The largest ago-processing-product exporter --PRAN-RFL Group--has already announced that it would double its export earnings to $1.0 billion within this calendar year 2025.

It also plans to reach $2.0-billion-export-earning benchmark by 2030 - based on its diversified range of products and markets.

The conglomerate's export that started in 1997 by sending pineapples to France stood at $532 million in last FY2021-22, the company claims.

Chairman of RAPID Dr Mohammad Abdur Razzaque says Bangladesh has huge potential in agro-and agro-product export market in the global arena.

"If the manufacturers improve their quality with international certification and target the overseas people globally instead of the Bangladeshi diasporas only, the export will automatically rise," he told the FE.

"Even Bangladeshis entrepreneurs can go for contract farming in foreign countries which would facilitate expanding the agro-base product shipments and earnings," Dr Razzaque said.

Research Director for the Centre for Policy Dialogue (CPD) Dr KG Moazzem hails the rebound as good news that Bangladesh has found billion-dollar-export-earning products in its foreign-trade basket.

"We were not getting billion-dollar export products for long years. Now the agro-products had touched the point and it's maintaining a steady growth. It's really stunning news for Bangladesh," the economist says.

Dr Moazzem cites another piece of good news that some Bangladeshi-made products are getting promotion as good brand on the overseas market. "It will facilitate the country to export in the future days, too."

The local companies should now enhance their capacities to expand their export market in the US and EU nations through ensuring their standards and certification, the CPD research director suggests.

Higher volume of the Bangladeshi agro-products goes to the middle-eastern markets alongside some Asian, African and South-Asian countries.​

 

[Saif]

Sugarcane farmers gets timely payment through bKash

Sugarcane farmers associated with the Bangladesh Sugar and Food Industries Corporation (BSFIC) are now receiving payments for sugarcane sales on time, directly into their bKash accounts.

www.newagebd.net

Sugarcane farmers gets timely payment through bKash
BSS 12 January, 2025, 00:44

Sugarcane farmers associated with the Bangladesh Sugar and Food Industries Corporation (BSFIC) are now receiving payments for sugarcane sales on time, directly into their bKash accounts.

This digital payment mechanism ensures hassle-free and accurate transfers, thereby fostering increased farmer engagement in sugarcane cultivation.

In the current fiscal year 2024-25, a significant surge in farmers’ participation has been observed, with an additional 15,000 farmers joining the programme, bringing the total number of beneficiaries to over 50,000, said a press release.

The integration of bKash payments has accelerated the overall sugarcane procurement process and increased the targets of sugar mills.

Previously, farmers were losing interest in sugarcane cultivation due to various issues, including irregular payments for sugarcane sales.

To overcome this situation, in the fiscal year 2023-24, bKash signed an agreement with BSFIC to disburse payments for farmers’ sugarcane sales directly to their bKash accounts.

This has enabled farmers to receive the fair price of sugarcane on time. The service also saves time, enabling farmers to focus on producing other crops alongside sugarcane.

According to sugar mill authorities, farmers’ interest in sugarcane cultivation has increased due to quick payment through bKash and technological support.

As a result, sugar mill authorities target 26 per cent more payment through bKash in the current fiscal year compared to the previous year.

Significantly, sugarcane farmers associated with BSFIC experienced expedited and direct payment disbursement to their bKash accounts during the previous fiscal year.

This facilitated the swift delivery of fair prices for their sugarcane sales.

Moreover, farmers can conveniently cash out their payments from nearby agent points without any charges.

Complementing this, bKash has actively organised numerous training sessions and seminars to raise farmers’ awareness on digital payments and financial transactions.

This concerted effort has fostered greater speed, transparency, and security within the entire sugarcane procurement and payment process.

Furthermore, it has significantly strengthened the bond between sugarcane farmers and the corporation.​

 

[Saif]

Bumper harvest, but farmers face loss

A video clip of aggrieved farmers destroying their cauliflower in the field as they fail to recover even the basic costs of production is doing the rounds on social media. Mainstream media is also abuzz with stories of farmers not harvesting some of their winter crops due to a lack of fair

thefinancialexpress.com.bd

Bumper harvest, but farmers face loss
Atiqul Kabir Tuhin

Published :
Jan 12, 2025 00:16
Updated :
Jan 12, 2025 00:16

A video clip of aggrieved farmers destroying their cauliflower in the field as they fail to recover even the basic costs of production is doing the rounds on social media. Mainstream media is also abuzz with stories of farmers not harvesting some of their winter crops due to a lack of fair prices, with some even resorting to feeding their produce to livestock. Last week, farmers also staged rallies in different parts of the country including Pabna and Meherpur, demanding fair prices for their crops. Moreover, they are reportedly planning to organise a protest in Dhaka to draw the government's attention to their massive losses despite a bumper production of winter vegetables.

Added to the farmers' woe is the exploitation by middlemen and ransom seekers. While consumers in Dhaka are paying Tk 15-20 for a single cauliflower, farmers are receiving a fraction of this price. In major agricultural production hubs in northern districts, each kilogram of cauliflower is reportedly being sold wholesale for a mere Tk 1-2, far below the production cost of Tk 5-6 per kilogram. Is this the reward for their hard work and investment?

This situation underscores the urgent need for a comprehensive farmer protection programme to safeguard farmers' interests. A significant portion of farmers' woes stems from the lack of storage facilities and efficient distribution systems. Notably, Bangladesh's current storage facilities are built with a focus on rice and potatoes, leaving limited space for perishable goods such as vegetables, fish, and milk. Farmers face substantial losses, particularly during peak seasons. According to an estimate, about 30 per cent of Bangladesh's fresh produce is lost annually due to inadequate storage facilities. Fruits, vegetables, onions, milk, fish, etc. often perish at various stages of the post-harvest supply chain, resulting in millions of tonnes of food loss each year.

Several policy interventions could alleviate these challenges. First of all, the government can think of introducing a Minimum Support Price (MSP) for main verities of crops each season. MSP is the minimum price paid by the government when it procures any crop from the farmers to protect them from price fluctuations. MSP is set considering production costs, market demand, and other economic factors. Successful implementation of an MSP can ensure financial security for farmers and shield them from losses during market downturns.

To effectively implement the MSP mechanism, agricultural collection centres, along with specialised cold storage facilities, should be established at the upazila level or near major production hubs. These centres will collect surplus crops from farmers based on the MSP or prevailing market rates. Collected produce can then be supplied to other areas, stored in cold storage facilities, or exported. Establishment of such centres will help reduce the influence of middlemen.

The authorities should also incentivise private-sector investment in food processing. Processing centres can further address price drops due to oversupply by converting excess produce into value-added products. For instance, surplus tomatoes can be processed into sauces or purées for domestic and export markets. Supporting young entrepreneurs in agro-processing through training and incentives can make this initiative more dynamic.

Bangladesh's agricultural sector holds immense potential, but systemic challenges, including price exploitation and post-harvest losses, continue to burden farmers. Addressing these issues through well-designed policies, and efficient storage and transport facilities can transform agriculture into a sustainable and profitable venture.​

 

[Saif]

Unlocking farm export potential

It is good news that earnings from the export of agro-products -- primary and processed --increased to $595.51 million in the first half of FY2025 from $544.77 million in the corresponding period of FY2024. If the current momentum is sustained in the second half of FY2025, export receipt from this

thefinancialexpress.com.bd

Unlocking farm export potential
FE
Published :
Jan 12, 2025 21:06
Updated :
Jan 12, 2025 21:06

It is good news that earnings from the export of agro-products -- primary and processed --increased to $595.51 million in the first half of FY2025 from $544.77 million in the corresponding period of FY2024. If the current momentum is sustained in the second half of FY2025, export receipt from this sector will once again surpass the billion-dollar threshold. This promising development underscores the sector's potential to diversify Bangladesh's export portfolio, which is a must as the country prepares for graduation from the United Nations' Least Developed Country (LDC) category in 2026. The global agricultural export market is valued at $1.90 trillion. It presents vast opportunities for Bangladesh, predominantly an agrarian economy with 45.4 per cent of its workforce engaged in agriculture, to tap into the opportunities of the global agro-market.

The agricultural sector achieved outstanding successes over the years in terms of research and development of new strains of crops, crop diversification and a near self-sufficiency in food production. These achievements of the sector not only contributed to the relative economic stability of the country but also to an increased calorie intake of the people and poverty reduction. It has also led to the growth of a vibrant agro-processing industry. Therefore, credit for increased earnings from agro-export goes to farmers, agro-scientists, and entrepreneurs in processed food industries. Now, with proper planning and policy support, greater adoption of mechanised farming and capacity building for cold storage to reduce post-harvest losses, Bangladesh can make further inroads into the global agricultural market.

One of the key barriers to boosting Bangladesh's agricultural exports is the challenge of meeting stringent international quality standards. While the country exports primarily to the Middle East, Gulf countries, and the UK, significant opportunities remain untapped in markets such as the EU, Japan, and the United States. These markets demand high levels of quality and safety, placing a premium on compliance with stringent international standards. Past instances have shown that the presence of harmful chemicals and pesticides in Bangladeshi agricultural products can lead to trade restrictions and market access barriers. To overcome these challenges, a concerted effort is required to enhance good agricultural practices and strengthen quality control mechanisms. The Bangladesh Accreditation Board must play a pivotal role to ensure that agricultural products meet international standards. Regrettably, Bangladesh lacks the necessary laboratories to issue certificates after thorough quality testing, forcing many exporters to rely on expensive and time-consuming foreign certifications. Investments in advanced testing laboratories are, therefore, crucial to obtaining necessary certifications for entry into highly coveted markets like the EU and the US. Furthermore, promoting Good Agricultural Practices (GAP) among farmers is essential to improve product quality and enhance food safety.

Finally, the establishment of modern packaging and processing facilities, along with strengthening the cold chain and improving post-harvest handling practices, are equally important to minimise product loss and maintain quality. Delays at airports caused by inadequate scanners and inefficient transportation processes for agricultural products, coupled with insufficient storage facilities, pose significant challenges to exporters. To address these issues, dedicated gates and scanner machines should be established at airports specifically for agricultural exporters. This will ensure timely and efficient delivery of high-quality products to international markets. An increase in agricultural exports will not only benefit farmers in terms of better returns but also significantly boost the national economy.​

 

[Saif]

Foreign fruits turn costlier for duty hike

Recent supplementary duty (SD) hikes on the import of fruits have dealt a fresh blow to people who were already cutting back on these delicacies since the imposition of regulatory duties in mid-2022..On January 9, the National Board of Revenue (NBR) increased the supplementary duty on the

www.thedailystar.net

Foreign fruits turn costlier for duty hike

Customers complain that retailers are now charging Tk 20 to Tk 30 more for each kilogramme of apples, oranges, grapes, sweet oranges and watermelons, forcing them to reduce purchases amid persistently high inflation for nearly two years. Photo: Anisur Rahman

Recent supplementary duty (SD) hikes on the import of fruits have dealt a fresh blow to people who were already cutting back on these delicacies since the imposition of regulatory duties in mid-2022.

On January 9, the National Board of Revenue (NBR) increased the supplementary duty on the import of certain dry and fresh fruits, such as nuts and betel nuts, to 45 percent from the previous 30 percent.

The duty on some fresh fruits, such as grapes, apples, and watermelons, as well as on juices, was raised to 30 percent from 20 percent.

This mid-fiscal year move by the government is widely interpreted as an attempt to increase revenue collection and meet conditions set by the International Monetary Fund (IMF) for its ongoing $4.7 billion loan programme for Bangladesh.

Economists and businesses have criticised the timing of the NBR's decision, as people have been struggling with inflation above 9 percent for nearly two years.

Customers report that retailers are now charging Tk 20 to Tk 30 more for each kilogramme (kg) of apples, oranges, grapes, sweet oranges, and watermelons, forcing them to reduce purchases amid persistently high inflation for nearly two years.

Naznin Akhter, a shopper at Karwan Bazar, one of Dhaka's largest kitchen markets, expressed her concern, stating that she could no longer afford foreign fruits in the volumes she used to purchase a year ago.

"Ten days ago, I bought medium-sized oranges at Tk 260 per kg, but the price has now risen to Tk 290. Similarly, apples that were Tk 290 per kg are now Tk 320," she said.

"I had planned to buy 2 kg of oranges and 2 kg of apples. However, due to the price hike, I ended up purchasing only 1.5 kg of each," she added.

Naznin urged the government to reconsider the duty hikes to ease the burden on consumers.

Fruit traders say the previous duty hikes reduced imports by roughly 30 percent, whereas the latest SD hikes have slashed wholesale sales by 20 to 25 percent.

Mohammad Sagar Mia, a shop owner at Karwan Bazar, said prices have risen by Tk 15 to Tk 20 per kg at the retail level.

"In some cases, the price of certain fruits has increased by Tk 25 per kg," he said.

Prior to January 9, he used to buy black grapes for Tk 500 per kg at wholesale, and now it costs Tk 530. Similarly, the price of small-sized pomegranates has risen from Tk 450 to Tk 480.

The price of oranges was Tk 200 to Tk 230 but has now increased to Tk 240 to Tk 260. Apples, which were Tk 280 earlier, are now Tk 300, he added.

Sagar also noted that pears, previously priced at Tk 270 to Tk 280, are now Tk 288.

Serazul Islam, president of the Bangladesh Fresh Fruits Importers Association, told The Daily Star that they sent a letter to the relevant government office a month ago requesting an exemption from regulatory duties and a reduction in advance income tax.

This request was particularly important with Ramadan, the month of fasting, due to begin in March, when believers typically incorporate different fruits into their daily diet, he said.

Islam also claimed that March was a time when the variety of local fruits available in markets was limited, although this could not be independently verified.

However, the opposite occurred, he said.

"With high inflation persisting, people have already been buying less fruit over the past two years," he added.

"The recent tax increases will further force many middle-income and lower-middle-income consumers to cut back on their fruit consumption," he said.

As a result of rising prices, wholesale fruit sales have already dropped by 20 to 25 percent over the past two to three days, Islam said.

Bangladesh's fruit imports, as reflected in the opening of letters of credit (LCs), fell by 8.5 percent year-on-year to $107 million in the July-November period of fiscal year 2024-25.

The settlement of the LCs also declined during the period, according to Bangladesh Bank data.

The Consumers Association of Bangladesh last Sunday urged the government to refrain from implementing the SD hikes until the end of Ramadan, warning that otherwise, it would worsen the financial struggles of low- and middle-income families.​