Bangladesh: Imported turmeric forces prices down
There are more problems as low cost imports from India are also pushing down prices.
This season, green turmeric is selling for only Tk 300 to 350 per maund (40 kg) but last year it sold for Tk 2,000 to Tk 3,000, said Jamini Mohon Tripura, a farmer of Thakurchhara area under Sadar upazila.
“I cultivated turmeric in one acre of land this season spending about Tk 35,000 and harvested about 63 maunds. But I got only Tk 23,000 by selling it,” he added.
He blamed a small number of companies who had been importing turmeric from India.
"We are counting a loss of about Tk 50,000 per tonne of dry turmeric as a large quantity of it remains unsold due to an abnormal fall of price in the market. Consequently the local traders are losing whatever interest they had in investing in the turmeric business again," Swapon Devnath, a turmeric trader from Khagrachhari bazaar area, said.
He also indicated Indian imports were responsible for the situation.
Earlier on it appeared as though there would be a favourable result this year. Crop yields were good and were ready early. Now growers are just keen to break even.
"I took a loan of Tk one lakh from Krishi Bank for investing in turmeric cultivation in my three acres of land but now I am worried about being able to pay back the bank loan due to the unexpected price fall," said Kishore Tripura, a turmeric grower from Latiban area.
Sudarshan Dutta, director of Khagrachhari Chamber of Commerce and Industry, said, "Over 10,000 turmeric traders and a large number of farmers in eight upazilas of the district will suffer a lot if immediate steps are not taken to ensure fair price of turmeric."
Source: www.thedailystar.net
