Chattogram Bureau :
The country’s biggest wholesale hub Chattogram’s Chaktai-Khatunganj is selling sugar, one of the most consumed commodities, at Tk2,660 per maund (around 40 kilograms). The price has been remaining unchanged for a long time despite a downward trend in international markets in recent times. The global market saw a fall of $13 or Tk 1,170 per tonne. Analysts say importers and traders hike the prices immediately after an increase in the global market, but they do not cut prices with the news of global fall. Visiting the Katunganj wholesale market, sugar was found selling at much higher prices than imported costs. With freight charge and duties, a maund of sugar was imported at Tk1,804 before 12 November, which is now selling at Tk2,660 in the wholesale market – Tk856 profit in each maund.
However, talking to the reporter, wholesale traders blame the supply crunch against the high demand for the item amid the ease of the pandemic. The price of sugar has been on the rise for the last 7-8 months and hit its highest of Tk2,850 per maund,” said Ismail Hossain, a trader at the market. Meanwhile, to keep the price at an affordable level, the National Board of Revenue cut the regulatory duties by 10pc to 20pc.
“As a result, the sugar market saw Tk200 drop per maund to Tk 2,650-2,660,” he added. An importer Alamgir Parvez, proprietor of M/s RM Traders at the market, said sugar price remained volatile in the global market and was now on the decline. It will take at least a month to feel the impact in the local market, he said.
Customs revenue 23 pc growth in last 4 months
The country’s largest revenue earning center , Chattogram Custom House has seen steady growth in the first four months of the current fiscal . The revenue collection has increased by 23.09pc compared to the same period of the last fiscal after imports became normal overcoming the pandemic crisis, according to Chattogram Custom House source..The revenue growth was 3.05% in July, 35.09% in August, 34.01% in September and 22.28% in October.In the four months from July to October of the 2020-21 fiscal year, Tk14,245.73 crore revenue was collected against a target of Tk19,757.40 crore. The collection deficit was 27.90% less than the target.
During the period of the current fiscal year, Tk17,651.91 crore revenue was collected against a target of Tk20,164 crore. The collection deficit was 12.46% less than the target.Compared to the last financial year, the collection deficit has decreased by 55.35% in the current financial year.Chattogram Custom House achieved a 3.5% growth in July of the current financial year, despite various adversities throughout the month including strict lockdown, natural calamities, Eid-ul-Azha holidays and closure of all types of factories at the end of the month.
In June of the last fiscal year, a record revenue of Tk6,743.9 crore was collected.Chattogram Customs House Commissioner Mohammad Fakhrul Alam said, “The rate of revenue collection increases if the volume of imports increases. In July of the current fiscal year, the revenue collection was slightly reduced due to the Eid holidays and lockdown. Despite the adversities, a 3.5% growth was achieved.
