Commerce Minister orders action over abnormal orange prices
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Commerce Minister Khandakar Abdul Muktadir called on importers to open letters of credit (LCs) and increase imports to boost the supply of import-dependent fruits and keep market prices under control.
At the same time, he announced that the government will share its decision regarding duties and taxes on date imports within this week.
Muktadir made these remarks on Saturday during a meeting with businessmen and representatives of government agencies at the Secretariat to ensure an adequate supply of fruits and stabilize market prices.
At the meeting, he expressed dissatisfaction over the current market price of oranges. He demanded an explanation from businessmen regarding how the retail price of orange reaches Tk 520 per kilogram even after accounting for import costs, duties, taxes, and other expenses.
Directing the National Directorate of Consumer’ Rights Protection to take legal action if evidence of selling oranges at abnormal prices is found, the minister said, “No opportunity for irrational price hikes in the market will be allowed.”
Businessmen at the meeting added that a severe supply shortage remains one of the main causes for the current price hike of orange. According to their estimates, only 12-29 containers of oranges arrived in the country in certain weeks, whereas meeting normal market demand requires around 15 containers of oranges per day.
They noted that many merchants reduced orange imports due to high tariffs, elevated transportation costs, shipping and port complications, and financial losses incurred on previous shipments.
As a perishable commodity, oranges carry significant financial risks during transportation and storage. After hearing the statements from businessmen, Muktadir promised to review the tariff structure related to oranges.
He urged importers to expand supply from alternative sources and open LCs to increase fruit supply in the market within the next few weeks.
Preparations for date import
Considering the upcoming demand, the commerce minister urged businessmen to start preparations for date imports immediately. He said, “Government decisions regarding the tariff on dates will be announced this week.”
Authorities have also taken initiatives to resolve long-standing complications surrounding the assessment value or duty valuation of dates. To address this issue, the Bangladesh Trade and Tariff Commission will convene a meeting with importers within the next few days.
During the meeting, officials will verify international source prices for various qualities and grades of imported dates to establish a rational indicator price. Then officials will submit this pricing proposal to the National Board of Revenue (NBR).
Muktadir added, “The duty assessment system must be such that businessmen do not fall victim to irrational assessment. At the same time, no opportunity can be left to evade government revenue by showing lower product prices.”
Urging both the government and business sector to work with complete transparency and honesty, he noted, “If any party tries to manipulate, it creates a crisis of trust across the entire system.”
At the meeting, the NBR representative said while actual purchase costs vary for different qualities and grades of dates, these price differences are not always properly reflected during duty assessment. Participants discussed assessing international market rates and source costs to establish realistic valuations.
Date importers added that international transport delays and port congestion mean dates take longer to reach Bangladesh than before. Therefore, prompt official decisions on tariffs are essential to guarantee timely and adequate imports. Businessmen assured authorities that they would expand imports of oranges and other foreign fruits from alternative sources.
Government officials affirmed that they would review logical concerns regarding duties, taxes, valuation, and import procedures.
Secretary Md Ataur Rahman Khan, Bangladesh Trade and Tariff Commission Chairman Nasir Ud Doula, Director General of the National Directorate of Consumer Rights Protection Md Zohirul Islam, representatives of the National Board of Revenue (NBR), senior officials of the Ministry of Commerce, and leaders of the Bangladesh Fresh Fruits Importers Association attended the meeting.
