April 24, 2024, 7:59 am

Spices import increase, prices also high

  • Update Time : Tuesday, January 23, 2024
  • 41 Time View
Photo: Collected

Desk Report:

The import of spices into the country has increased, and at the same time, its prices have also increased. Importers attribute the increase in prices to the imposition of additional duties. Traders complain that they are equally suffering from the dollar crisis.

Meanwhile, it is known that the import of different types of spices through Chattogram port has increased manifold this year compared to the last few years. Most of these spices are directly entering the country’s largest consumer goods market, Khatunganj. From there it is marketed all over the country. But even after the upward import, there is no benefit in the retail market. The prices of these products are high. The wholesale market itself has increased up to 400 taka in the last two months in Khatunganj itself.

In November last year, in Khatunganj, cardamom price increased by Tk 500 to Tk 2,100, cloves price increased by Tk 20 to Tk 1,500, cinnamon price increased by Tk 40 to Tk 410, nutmeg price increased by Tk 30 to Tk 670, Indian dry pepper increased by Tk 20 to Tk 280, Indian turmeric price increased by Tk 20 to Tk 200, Local turmeric increased by Tk 25 to Tk 200, black cumin price increased by Tk 10 to Tk 240, fenugreek price rose by Tk 15 to Tk 125 and coriander price increased by Tk 25 to Tk185. At that time, sweet cumin was sold at Tk 280, Jayatri at Tk 2,450 and Bay leaf (Tejpata) at Tk 60.

In December, Jayatri rose by Tk 400 to Tk 2,850, cardamom by Tk 300 to Tk 2,400, cloves by Tk 300 to Tk 1,800, Indian dry chilli by Tk 150 to Tk 430, cinnamon by Tk 50 to Tk 460, sweet cumin at Tk 40 to Tk 320, nutmeg increased by Tk 30 to Tk 700, bay leaves increased by Tk 30 to Tk 90, black cumin increased by Tk 20 to Tk 260, fenugreek increased by Tk 5 to Tk 130, Indian turmeric increased by Tk 10 to Tk 210, local turmeric increased by Tk 5 to Tk 205. Apart from that per kg Coriander (local) Tk. Sold for Tk 200 to Tk 220. Currently, the products are being sold at the same price.

According to Chattogram Sea Port Plant Protection Center, various spices including onion, garlic, cinnamon, cloves, nutmeg, jaitri, cardamom, coriander, cumin, ginger, and turmeric are imported from different countries of the world through this port. Compared to 2022, more than 30,717 tons of spices were imported through Chattogram port in 2023. In 2022, 1 lakh 51 thousand 933 tons of spices were imported through this port. On the other hand, 1 lakh 82 thousand 650 tons were imported last year. In 2022, Customs earned a revenue of Tk 453 crore 48 lakh 16 thousand 809 by importing spices. On the other hand, last year’s income was 663 crore 79 lakh 45 thousand 806 taka.

Chattogram Seaport Plant Contagion Center Deputy Director Dr. Mohammad Shah Alam told the media that 2,419 tons of cardamom had been imported in the first six months of the current fiscal year 2023-2024. Of them, 82 tons of cardamom arrived in December alone. In the financial year 2022-23, 4,844 tons of cardamom arrived. In the fiscal year 2020-21, 3,906 tons have arrived.

On the other hand, 4,470 tons of cinnamon have been imported in the first six months of the current fiscal year 2023-2024. 698 tons arrived in December alone. On the other hand, 15,752 tons of cinnamon have been imported in the fiscal year 2022-23. Last December, 33 tons of cloves were imported through Chattogram port. In the first six months of the current financial year, 422 tons have been imported. In the previous financial year, 1,275 tons of cloves arrived.

Along with the demand, the import of cumin has also increased. Only in December, 4,741 tons of cumin were imported through Chattogram port. In the first six months of the current financial year, 6,030 tons have been imported. 3,669 tons came in the last financial year.

Khatunganj’s spice importer Farooq Ahmad said that spices are considered as luxury products. Therefore, you have to pay more duty on the import of these products. About 51 percent of duty has to be paid. Besides, import costs have increased due to the high dollar rate. Because of this, the spice market has risen.

Chattogram Spice Importers Association President Amar Kanti Das told the media that the spice business depends on India. If the price goes up there, it goes up here too. And now there is a dollar crisis. It has become difficult to import spices with 100% margin. Due to this, the prices of various spices including cardamom, cinnamon, and cloves have increased.

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