Govt Bans Beef Imports to Boost Local Cattle Farming

Industry: Commodity, Consumer & Retail
Economic Tag: Import

The Commerce Minister of Bangladesh announced that the government will not permit beef imports to support the flourishing domestic cattle farming industry. He emphasized the positive impact of local cattle farming on reducing youth unemployment, with many young people investing and making profits.

Beef prices in the country recently dropped from Tk 850 to Tk 600 per kilogram, partly due to decreased demand and allegations of informal imports from India. The minister highlighted the success of local cattle farmers, noting that they now fulfill the demand for cattle during Eid-ul-Azha, a significant Islamic festival. The minister also discussed price dynamics in other commodities, including eggs, potatoes, onions, and sugar, providing insights into the government’s approach to stabilize the market and protect local interests.

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