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The 60% drop in export earnings is estimated to be only temporary
Bangladesh
Thursday 17 November 2022
FJ
Earnings from fruit and vegetable exports shipped by air reached just USD 15 million for the period July to October 2022 (Photo: theindependentbd.com).
In Bangladesh, earnings from fruit and vegetable exports in the July-October period fell to their lowest level in 6 years.
According to EPB (Export Promotion Bureau) data, in the first 4 months of FY 2022-23 i.e. July to October, export revenue of fruit and vegetables shipped by air reached only 15 million USD. Or -60% compared to the 38 million USD reached during the same period last year.
The main reasons for this poor performance are the increase in air freight rates (+40% over the last year), the increase in oil prices which have increased transport prices in the country, and the rate national currency exchange rate against the US dollar.
But, according to SM Jahangir Hossain, president of the BFVAPEA (Bangladesh Fruits, Vegetables and Allied Products Exporters' Association) the July to October period is generally a period of transition. With the arrival of winter vegetables, the main season for vegetables, export earnings will pick up again in the coming months.
source : thedailystar.net
