Staff Correspondent:

The import of nine essential consumer products, which see increased demand during Ramadan and Eid, has risen significantly.

These products are sugar, soybean oil, lentils, peas, chickpeas, onions, garlic, ginger, and dates. From October of the current fiscal year to January of this year, the average growth in the import of these products has been 39%.

Among these, the highest growth has been recorded in the import of chickpeas and peas, according to a report by the Bangladesh Bank.

The Bangladesh Bank states that this positive growth in imports will help maintain a stable supply in the market and keep prices within a tolerable range.

Officials from the central bank have mentioned that the increase in imports before Ramadan has been facilitated by allowing flexible cash margin rates based on bank-client relationships and providing the opportunity for delayed payment of import costs.

On November 11, Bangladesh Bank issued a notification permitting delayed payment for 11 types of consumer goods, including the aforementioned nine products.

This decision was made to ease transactions for imports, ensuring price stability and an uninterrupted supply before Ramadan.

This facility will remain in effect until March 31. Earlier, Bangladesh Bank had allowed the determination of cash margin rates based on bank-client relationships.

A notification on November 6 stated that opening letters of credit (LCs) for these products could be done even with zero margins, depending on the bank-client relationship.

These measures have contributed to the increased import of essential goods.

According to the Bangladesh Bank report, 454,034 tons of sugar were imported in these four months, marking a 20% increase compared to the same period of the previous fiscal year.

Soybean oil imports increased by 34%, totaling 598,252 tons. Imports of lentil-based products rose by 44%, reaching 157,837 tons. Chickpea imports amounted to 97,555 tons, which is 64% higher than the same period last fiscal year. Date imports increased by 2%, totaling 14,420 tons.

During this period, the highest increase of 85% was recorded in pea imports, totaling 202,845 tons.

Despite adequate domestic onion production this year, imports of onions still rose by 2%, reaching 280,611 tons over the four-month period.

Garlic imports increased by 20%, totaling 61,381 tons, while ginger imports surged by 56%, reaching 52,515 tons.