Khatunganj commodity market sees no buyer

Market full of oil, sugar, gram Imports have outpaced demand

Ayub Ali from Ctg: The holy month of Ramadan is coming. Demand for this specialty has grown significantly as a result of recent corporate scandals. As a result, sales also increased. But in Khatunganj, the largest wholesale market in Chittagong, a different picture has emerged. Although a large amount of goods is imported, there is not much trade. Even if the price of the product goes down, the buyer is not seen. As a result, there is a kind of sultry situation.
As a result, there is a kind of sultry situation. There has been unrest among traders. Importers are especially uncomfortable.
According to the importers, the demand for gram in the country is around two to two lakh 15 thousand tons throughout the year. Of this, the demand for Ramadan alone is about 60,000 tons. However, in the first eight and a half months of the current financial year (2021-22) more than two and a half lakh tons of gram has been imported through Chittagong port.
Despite the demand of 60,000 tons in Ramadan, more than 120,000 tons of gram has been imported from February 1 to March 20.
According to Khatunganj traders, last year’s stock of unsold gram was also this time. In all, there are only twice as many gram stocks as the demand for Ramadan. In the meanwhile, due to various measures taken by the government, the prices of all kinds of consumer goods including gram have started to come down.
Not only gram, pea-lentil pulses, even soybean oil and sugar imports have exceeded demand. However, traders have said that there is no trade in this one of the country’s consumer goods markets in the last few days in view of Ramadan. They say that even though there are people in Khatunganj, there is no trade.
General Secretary of ‘Chaktai-KhatunganjAratdar General Businessmen Welfare Association’ Md. Mohiuddin said that there has been no sale of gram, pulses, oil and sugar in Khatunganj in the last few days. It is not understood that Ramadan is ahead. Dedarche was sold at this time of the year. This time there is no such image. The prices of all kinds of products are falling every day.
He said that at present in Khatunganj, gram is being sold at 70-75 rupees per kg. Even a week ago it was 2-3 rupees more per kg. Like gram, the price of peas has also come down. Last week, peas were sold at Tk 48 per kg, but last Wednesday (March 23) they were sold at Tk 44 per kg. Similarly, lentil pulses used to cost Tk 69, now they are being sold at Tk 8 per kg.
At present, there is unrest in Khatunganj over consumer goods, said the leader of the traders. He said the prices of the products are falling sharply.
Importers are uncomfortable importing goods. The prices of all kinds of products are falling in the market mainly due to high imports.
Import of gram
According to the National Board of Revenue (NBR), from July 1 to March 20 of the current financial year, two lakh 52 thousand 213 tons 324 kg of gram has been imported through Chittagong port. About half of them have been imported in the last 48 days. From February 1 to March 20, 8 companies of the country including TCB (Trading Corporation of Bangladesh) imported one lakh 20 thousand 26 tons 415 kg of gram through Chittagong port. These chholas are imported in the name of various well-known industrial groups under their own ownership.
Of these, Nabil Naba Foods Ltd. 21,908 tons 650 kg, City Pulses Mill Ltd. 19,624 tons 480 kg, BD Pulse and Commodity 13,09 tons 310 kg, Shabnam Vegetable Oil Industries 13,200 tons, Messrs. Ton 60 kg and TCB imported 946 tons 625 kg gram.
Pulses import
On the other hand, in the last 48 days, 22 companies have imported one lakh 10 thousand 98 tons and 190 kg of peas.
According to the NBR, 3,12,548 tonnes of lentil pulses were imported from July 1 to March 20, 2021-22. Of these, more than one-third have been imported in 48 days from February 1 to March 20. During this period one lakh 33 thousand 736 tons 190 kg pulses were imported.
Oil imports
Khatunganj traders say the country has an annual demand of 2 million tons of edible oil. But in the first eight and a half months of the current financial year, the import has been more than that.
According to the NBR, 24 lakh 46 thousand 46 tons of edible oil has been imported till March 14. In the last two and a half months, 3,57,600 tons of oil has been imported. Most of them have been imported by the top five industrial groups of the country.
Sugar imports
On the other hand, according to the traders of Khatunganj, the demand for sugar in the country is about 1.7 million tons per year. However, in the first eight months and 20 days of this financial year, the sugar import has exceeded the demand of the whole year. According to the NBR, five private sugar mills of the country have imported 19 lakh 63 thousand 156 tons 130 kg of unrefined sugar from the beginning of 2021-22 fiscal year till last March 20. Of this, 5 lakh 31 thousand 949 tons 150 kg of unrefined sugar has been imported till March 20.
Meghna Sugar Refinery Limited, the country’s top industrial conglomerate, has imported the most crude sugar from the beginning of the current financial year till March 20. The company imported 6,85,315 tonnes of unrefined sugar during this period. Of this, 1 lakh 8 thousand 500 tons of unrefined sugar was imported from February 1 to March 20.
Similarly, City Sugar Industries Limited imported the second highest amount of 6,14,355 tons of unrefined sugar. In the last 48 days, the company has imported one lakh 56 thousand 553 tons and 500 kg of unrefined sugar.
Besides, from the beginning of the current financial year till March 20, S Alam Refined Sugar Industries has imported 3,12,590 tons 650 kg and Deshbandhu Sugar Mills Limited has imported 1,56,960 tons of unrefined sugar.
In the last 48 days, S Alam has imported one lakh 41 thousand 245 tons of 750 kg of unrefined sugar. Deshbandhu Sugar Mills has imported 24,400 tons of sugar.
Oil-sugar prices
Recently, there was a sudden instability in the edible oil market in the country. Soybean oil prices rise. But in Khatunganj, the price of oil goes down in a week. Even then, the traders said that the sales were less than other times.
Abul Bashar, the proprietor of Messrs. Ahad Trading, an oil and sugar trader in Khatunganj, told on Sunday afternoon that the current price of edible oil in the market is Tk
300 per quintal less than the price fixed by the government.
He said that on March 23, S Alam’s palm oil was sold at Tk 5,020 per gram. Similarly, TK Group’s palm oil is being sold at Tk 5,060, while Citigroup’s palm oil is being sold at Tk 5,060, which was Tk 100 more per ounce a week ago.
The trader said that besides palm oil, the price of soybean oil has also come down by Tk 200 per ounce in a week. Last week, S Alam’s soybean was Tk 5,600, while TK and City’s soybean was Tk 5,006. Now S Alam soybean is being sold at Tk 5,500 per ounce.
Besides, the price of sugar has also come down. Till the afternoon of March 23, S Alam’s sugar was sold at Tk 2,620 per ounce, while City and Fresh (Meghna Group) sugar was also sold at Tk 2,640 per ounce. Even a week ago, the price of these sugars was at least 50 taka per ounce, he said.
The trader said that the market is declining due to the increase in imports, but not. There are many DOs in the market. But not being sold. Because government surveillance has increased across the country. That is why traders are not buying goods (consumer goods). That is why there is no sale even if the market is down.