Ginger imports from China have been halted for nearly a month, along with low imports from India, Indonesia, and Vietnam. Myanmar has emerged as the main source of ginger, constituting 80% of the market supply. The import price of Myanmar ginger is 58 per kg, but it is being sold at Tk 280 per kg at retail. On the other hand, according to Teknaf customs station, 31 traders imported 1,817 tons of ginger through the Teknaf land port in 22 days of this month, with an average import price of 48 taka per kg. The import price has dropped to Tk 58 per kg, with an additional duty-tax of about 10 tk per kg. The wholesale market in Chittagong saw Myanmar ginger being sold for Tk 210 to Tk 220 per kg, while retail shops sold it for Tk 280 per kg, marking a significant markup.
The banks face limitations in increasing ginger imports due to the ongoing dollar crisis. If the banks cooperate, ginger can be purchased from Myanmar at Tk 80 per kg, with a maximum cost of 100 taka, including customs-tax and transportation. Apart from Myanmar, some ginger is also being imported from Indonesia, Vietnam, and India, but Indian ginger is not available in the wholesale market of Chittagong. The decline in ginger imports from China began during the COVID-19 pandemic and continues due to poor yields and China’s domestic demand, as they are importing ginger from Indonesia and Vietnam to fulfill their own needs. The last import of ginger from China was recorded on April 17, and since then, no shipments have arrived for over a month. Chinese ginger, currently sold at Tk 500 per kg, was imported at Tk 187, resulting in a markup of two and a half times the import price.