In Bangladesh, the prevailing dollar crunch, coupled with the recently increased regulatory duty, is currently standing in the way of importing many types of fresh fruits. Even after providing 100-per cent LC (letters of credit) margin, fruit importers cannot open LCs as desired. These companies have sounded an alarm of possible price hike of fresh fruits during the upcoming month of Ramadan.
It would be tough to control fruit market during Ramadan if the government fails to provide necessary LC-related aid to the importers concerned. To avert such fluid situation, the traders have requested the government for urgent measures for importing fresh fruits for Ramadan.
Locally produced fruits become pricier for commoners after price hike of imported fruits amid duty imposition last year and 100-per cent cash margin on LC opening due to dollar crisis. Such contractionary measures by the government to save foreign currency caused lower import of fruits like apple, orange and grape, increasing 30/40 per cent in prices of imported ones.
Source: thefinancialexpress.com.bd