Import through ctg port: What are the merchandise with highest import costs?

Port My News Bangladesh

About 88.52 million tonnes of a number of varieties of objects had been imported through the Chattogram port in fiscal yr 2022-23 at a whole value of Tk 4.62 lakh crore. Image: Star/file

Bangladesh spent the most effective, over Tk 10,000 crore, behind the import of each of 9 merchandise in fiscal yr (FY) 2022-23 although some 4,788 varieties of things enter through the Chattogram port.

The 9 are cotton, diesel, scrap metal, furnace oil, palm oil, soybean, cement clinker, wheat and crude edible oil.


Such portions had been spent behind six merchandise inside the earlier FY of 2021-22 whereas solely two in FY 2013-14.

For the ultimate 10 years, it had been primarily cotton, which is the garment commerce’s raw supplies, and diesel, a gasoline important for the know-how {of electrical} power.

Cement clinker, wheat and crude edible oil made it to the very best expenditure guidelines in FY 2022-23 whereas the remaining in FY 2021-22.

Although liquefied pure gasoline (LNG) had been on the guidelines in FY 2019-20 and 2020-21, it dropped out inside the last two years.

All in all, 88.52 million tonnes of varied kinds objects had been imported through the Chattogram port in fiscal yr 2022-23 at a whole value of Tk 4.62 lakh crore.

Out of this, the 9 accounted for 37 million tonnes value Tk 1.61 lakh crore. Which means about 33 % of the entire import expenditure was behind the 9.

Retailers talked about such portions had been being spent to convey over an rising variety of objects for value hikes inside the world market, rising native demand, extreme dependence on imports and a decrease inside the value of the taka in the direction of the dollar.

“Bangladesh depends on the import of each one in every of these merchandise,”Moinul Islam, a former professor of economics on the Faculty of Chattogram, knowledgeable The mynewsbd 

“Manufacturing of wheat in our nation is shut to fifteen % of the entire demand…although mustard seed is produced inside the nation and should act as an alternative choice to palm or soybean oil, it might meet little or no demand,” he talked about.

“We now haven’t been able to enhance renewable energy know-how functionality to 1,000 megawatts. Due to this, a whole lot of the demand for electrical power have to be met through gasoline oil imports. So, a whole lot of the money is spent on this sector,” he talked about.

“Considering all these, our expenditure behind this stuff will proceed to increase ultimately,” he added.

Analysing the earlier 10 years’ info of Chattogram Personalized Dwelling revealed that Tk 10,000 crore was spent behind the import of solely two varieties of things for the first 5 years from FY 2013-14.

Then in FY 2019-20 it was 4 and FY 2020-21 5.

Based mostly on the information, a lot of the very best portions had been spent behind importing cotton inside the last 10 years.

About 14.21 lakh tonnes value Tk 40,082 crore was imported inside the last FY of 2022-23 whereas 15.09 lakh tonnes value Tk 31,195 crore in FY 2021-22.

“The native climate of our nation is not going to be acceptable for cotton cultivation. Due to this, 100% of the nation’s demand for cotton must be met through import,” talked about Syed Nazrul Islam, first vp of the Bangladesh Garment Producers and Exporters Affiliation.

About 45.55 lakh tonnes value Tk 27,380 crore had been imported in FY 2022-23 whereas 34.46 lakh tonnes value Tk 14,392 crore in FY 2021-22.

“An enormous part of our import expenditure is spent on gasoline oil. Focus on renewable energy was wished to chop again gasoline oil import costs. Nonetheless it was not seen inside the last decade,” talked about Moinul Islam.

“For those who occur to pay attention now, it will take 5 to six years to have an effect. Due to this, there is not a various to chop again import costs on this sector in a short time,” he added.

Within the meantime, Tk 20,689 crore was spent importing 42 lakh tonnes of scrap metal in FY 2022-23, Tk 15,921 crore for 33.43 lakh tonnes of furnace oil, Tk 14,027 crore for 12.7 lakh tonnes of palm oil and Tk 11,304 crore for 17.7 million tonnes of cement clinker.

Other than, Tk 11,099 crore was spent importing wheat, Tk 1,11,090 crore soybean and Tk 10,011 crore crude edible oil.

“About 80-85 % of the nation’s wheat and edible oil needs are met with imports. Being a significant product, it is in extreme demand all world wide,” talked about Abul Bashar Chowdhury, chairman of BSM Group, one in every of many importers of meals merchandise.

“The value of imports has moreover elevated as the prices of these merchandise inside the worldwide market has been on an upward growth for the previous couple of years,” he talked about.

He talked about wheat cultivation started in Bangladesh throughout the Nineteen Nineties. Earlier there was not rather a lot wheat cultivation. Farmers are additional severe about paddy manufacturing than wheat as wheat is additional affected by rains than paddy, he talked about.

Moreover, if wheat cultivation will enhance, rice cultivation will decrease as every are produced within the an identical season, he recognized.

Earlier ships and scrap iron have to be imported to fulfill the demand for metallic inside the nation’s infrastructure sector, talked about Jasim Uddin, director (product sales and promoting and advertising) of Kabir Metallic Re-Rolling Mills (KSRM) Group of Industries.

“100% of the nation’s metallic raw supplies is import dependent,” he talked about.

Cement producers moreover talked about the an identical issue. They talked about all varieties of raw provides, along with clinker, have to be imported. 


Back To Top