Fall of 50% for fresh fruit imports in Bangladesh

In Bangladesh, fruit imports through the port of Chattogram were around 70,000 tonnes in the month of April 2022, according to customs. Then, in one month, these imports fell to 35,170 tonnes, then to 26,310 tonnes in June and 21,571 tonnes in July. Slight recovery in August with 33,454 tonnes but the volume remained well below the volume imported in April.

 

This fall in imports is explained by the new regulations put in place, the government has tightened the rules concerning these products deemed 'non-essential' to limit the outflow of foreign exchange reserves. Taxes on imports of various fresh fruits have risen to 20% from 3% previously, while the Bangladesh Bank has required importers to make a 100% deposit before opening letters of credit, this cash 'margin' ranged between 10% and 20% previously.

 

Many professionals, with small and medium enterprises, have now stopped importing fruit because they are unable to deposit the amount needed for these cash 'margins'.

 

Bangladesh imported various fresh fruits, such as apples, oranges, tangerines, grapes and pears, mainly from China, Australia, South Africa, Brazil, Argentina, New Zealand, Afghanistan and France.