Govt to Import 1 Lakh Tonnes of Grains for Price Stability

Bangladesh’s fresh fruit imports fell to $128.51 million in the first half of FY25, the lowest in three years, due to the taka’s depreciation and high import duties. Letters of credit (LC) openings for fruit imports declined 3.29% year-on-year to $140.5 million in July-December FY25.

Bangladeshi food manufacturers secured $34.5 million in confirmed orders at the Gulf Food Fair in Dubai, with an additional $29.1 million in potential export discussions. PRAN Group led with $5 million in orders and a $2 million export discussion, including its first orders from Syria and Russia.

In January 2025, Bangladesh saw a 5.4% YoY decline in import LC openings, totaling $6.13 billion, due to lower demand and overdue LC payments. Weaker banks struggled to open new LCs, while state-owned banks prioritized clearing past dues.

Bangladesh's imports grew 3.53% YoY to $32 billion in H1 FY25, rebounding from a 20% decline the previous year, driven by higher exports and remittances. December 2024 saw a 30% YoY surge in imports, supported by increased industrial raw material demand for export-oriented industries.

Over the past 16 years, Bangladesh’s trade relations with Pakistan were strained under the Awami League government, but a shift is occurring following a change in government. Trade with Pakistan has increased, while trade with India has slightly decreased.

The government has eased procurement rules to import 1 lakh tonnes of rice faster by reducing the bid submission period from 28 to 15 days, per the Cabinet Committee on Economic Affairs. This is part of a plan to import 700,000 tonnes of rice—the highest in seven years—to stabilize prices and replenish public foodgrain stocks, which fell 22% year-on-year to 11.95 lakh tonnes in December 2023.