As the holy month of Ramadan is starting in a few days, the import of most daily commodities has increased at the last moment.
However, the supply chain was disrupted due to port-centered movements and holidays surrounding the national parliamentary elections at the beginning of the month.
Businessmen are saying that it is important to ensure that there are no issues in the market at this time when shopping for Ramadan increases.
Otherwise, there is a risk of a negative impact on commodity prices.
According to the National Board of Revenue (NBR), the import of essential commodities for Ramadan, excluding peas, has increased compared to last time.
Although the import of dates decreased by 2.5 per cent, last year's stock is still available in cold storage. In other words, imports of the other goods have increased except for peas.
Businessmen say that the import of Ramadan goods started in December this time. The highest imports occurred in January-February. During this period, goods clearance was hampered due to port-centered movements in Chittagong.
Additionally, due to a shortage of lighter ships, there were delays in getting the cleared goods to factories. This delayed processing in factories and the delivery of Ramadan products to the wholesale market.
Moreover, workers in industrial areas received a three-day holiday on 12 February due to the parliamentary elections.
Many workers and drivers went home during the five-day holiday, including the weekend. This created a crisis of transport vehicles, and supply from factories was disrupted. Workers and drivers have started returning after the holidays. However, the delay in supply has increased the pressure on marketing.
When asked, Mustafa Kamal, chairman of Meghna Group of Industries (MGI), a leading importer of daily necessities, told Prothom Alo yesterday, Sunday, that the import of Ramadan products has increased significantly.
The factory is also processing these goods. There is no room for crisis. However, it is important to ensure no issues arise in the marketing from the factory in the coming week. This will keep the supply normal across the country.
Imports of various commodities:
Until mid-January, the import of edible oil was low. However, imports have increased over the past month. According to NBR's calculations, in the last two and a half months (1 December–14 February), the import of the two main edible oils, soybean and palm oil, reached 574,000 tonnes. In the same period before last Ramadan, imports were 550,000 tonnes, indicating an increase of 24,000 tonens.
Some institutions also produce oil locally by importing soybean seeds alongside unrefined oil. Crushing soybean seeds yields 15 to 18 per cent soybean oil. The import of soybean seeds has increased by 15 per cent compared to the same period last year, reaching 674,000 tonnes, which will produce 121,000 tonnes of soybean oil.
The use of edible oil increases significantly during Ramadan. According to the Tariff Commission, the demand for edible oil during Ramadan is about 300,000 tonnes. Even excluding the normal demand for the two-and-a-half months, imports have exceeded the demand during Ramadan.
The demand for sugar is estimated to be about 300,000 tonnes in the month of Ramadan. In the past two and a half months before Ramadan, 473,000 tonnes of sugar have been imported, nearly 39 per cent more than the same period last year.
The same trend is seen with lentils. In the past two and a half months, 229,000 tonnes of lentils have been imported, about 43 per cent more than the same period last year.
The demand for chickpeas during Ramadan is about 100,000 tonnes. In the past two and a half months, 159,000 tonnes of chickpeas have been imported. Compared to the same period before last Ramadan, imports have increased slightly. The demand for chickpeas is 100,000 tonnes during Ramadan and 10,000 tonnes during other months. Thus, even after excluding normal demand, the supply of chickpeas is quite good.
This time, the import of peas among Ramadan goods is low. In the past two and a half months, 66,000 tonnes of peas have been imported, 81 per cent less than during the same period last time. Due to the low import of peas, the price of this product has increased slightly in the market. Yesterday, peas were sold at Tk 51 per kg in Khatunganj, an increase of Tk 1-2. Port data shows that a ship carrying 32,000 tonnes of peas is still being unloaded at the port.
This time, the import of dates has decreased slightly. In the past two and a half months, 39,000 tonnes of dates have been imported, 2.5 per cent less than last time. While the demand for dates during Ramadan is 60,000 tonnes.
When asked, Faruk Ahmed, head of Faruk Trade International, an importer of dates in Khatunganj, told Prothom Alo that imports began after customs duties on dates were reduced last December. There are dates in the pipeline, which will increase supply once cleared. Since imports were higher last year, there are stocks in cold storage, making a crisis with dates unlikely.
Special focus needed on marketing:
Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD), told Prothom Alo that the production and import of Ramadan products are consistent with demand.
However, marketing was disrupted this time due to the elections.
Therefore, special attention is needed in the coming days on the marketing of Ramadan goods from factories or warehouses. This will prevent negative impacts on prices.