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Import duties causing excess profits in fruit

Industry: Consumer & Retail, Food

Due to increased duties on imported fruits and tightened credit facilities by the central bank, the import of fruits into the country has decreased, leading to increased fruit prices. Retailers are taking advantage of the situation by making extra profits, resulting in consumers paying more than double the price of one kg of fruit. However, the demand for imported fruits has started to decrease as mangoes from the local market have become available.An on-site investigation revealed that consumers are paying more than 100 tk  per kg for imported fruits, which is considered excessive profit.

At least 12 types of foreign fruits are available in the Badamtali wholesale market in Dhaka, from where retailers purchase and sell fruits in different areas of the city. Retailers are selling fruits at much higher prices than the wholesale prices, resulting in South Africa’s Royal Gala apple being sold for 280 taka per kg, which was bought at 205 taka. As mangoes from the Satkhira region started arriving in the capital, the demand for foreign imported fruit decreased slightly, and business leaders say demand for imported fruit has halved. Some leaders are requesting that the government not allow the import of mangoes in this season to protect the country’s mango farmers.

 

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