Salt farmers in Cox’s Bazar, are starting their salt cultivation early this year to capitalize on the current profitable salt prices before imports potentially affect the market. Currently, unrefined salt is being sold for up to Tk 700 per maund, but prices are expected to decline significantly when the typical cultivation period begins November,2023.
Farmers are concerned that allowing salt imports could lead to a sharp drop in salt prices, significantly impacting their income. Land leasing prices for salt farming have doubled to Tk 1,000 per decimal as the industry has become more profitable. Farmers anticipate incurring losses if salt prices fall below Tk 350 per maund. Although middlemen already pose challenges, the government’s plan to import 1 lakh tonnes of salt is not expected to harm local prices, as it can only meet 15 days of demand. Last year, Cox’s Bazar and Banshkhali produced 22.33 lakh tonnes of salt, slightly below the 23.85 lakh tonnes demand.
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