Wheat Imports Reached 6.8 Million Tonnes

India’s removal of the $550 per tonne minimum export price (MEP) and reduction of export duty on onions is impacting Bangladesh’s kitchen markets. In Dhaka’s Shyambazar, Indian onion prices dropped by Tk 4 to Tk 5 per kilogram, now selling at Tk 95-96 per kg. Although no new shipments have yet arrived, wholesalers anticipate further price drops once new consignments come in. Onion prices at retail have fallen slightly, from Tk 100-115 per kg to Tk 100-105 per kg.

Four days before the fall of the government, Bangladesh Bank granted a two-year loan repayment extension to the Bashundhara Group for its debt with National Bank. As of August 31, Bashundhara's loan with National Bank amounted to BDT 3,844 crore, surpassing the legal limit by eight times. The central bank allowed this extension despite their policy typically restricting such extensions to one year. The loan was already BDT 3,859 crore, with direct loans at BDT 3,844 crore. The extension was requested in April and approved in July, right before the government’s collapse on August 5.

An investigation by the Bangladesh Competition Commission (BCC) has revealed that several leading bottled water manufacturers inflated their profits by up to 420% by raising the price of 500ml bottles from Tk15 to Tk20 between January and September 2023.

In the first month of the current fiscal year, disbursement of agricultural loans fell by nearly 10% year-on-year, totaling Tk 17.90 billion compared to Tk 19.91 billion in July 2023, as reported by Bangladesh Bank (BB). This decline is attributed to disruptions from student-led movements, internet shutdowns, and curfews in July. Despite the decrease, bankers anticipate a gradual increase in loan disbursement as conditions improve.

Gold prices in Bangladesh are set to rise to approximately Tk 130,000 per bhori (11.664 grams) following a 2.8% increase from the previous rate of Tk 126,321 per bhori. This new price, advised by the Bangladesh Jewellers' Association (Bajus), reflects the higher cost of pure gold.

Kazi Farms, in partnership with Kazi Media Limited and Kazi Food Industries Limited, has donated BDT 1,21,88,838 to the Chief Advisor's Fund for Flood Relief. The donation, presented on September 9 to Faruk-E Azam, Honourable Advisor for the Ministry of Disaster Management and Relief, was the result of employees contributing one day's salary, matched by their employers.