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In the third week of last month, the retail price of Chinese ginger was Rs 100 per kg, rising to Rs 300.
Officials from the Chittagong District Administration in charge of market supervision say the average import price for ginger is Rs 60 per kg. The wholesale price of ginger is Rs 250 per kg due to “handling”. And in retail it has increased to Rs 300.
According to district administration, some importers, brokers and brokers from Khatunganj, Chittagong’s largest wholesale market, have tactically raised prices.
However, merchants in Khatunganj say that the price of ginger has risen as supply has not met demand. If the import of ginger is normal, the price will drop.
As a port, ginger imports in the first four months of this year were much lower than in the same period last year. From January to April, around 12 thousand tons of ginger passed through the port of Chittagong. In the first four months of last year, the import of ginger was 30,000 tons.
From January 1 to April 24, 32 importers from Chittagong imported 3,144 tons of ginger as an official of the Chittagong District Administration. 475 tons of ginger are waiting to be unloaded at the Chittagong port.
In the third week of March, local ginger sells for Rs 70-80 per kg in Khatunganj, Myanmar ginger for Rs 60-70 per kg, and Chinese ginger for Rs 100-120 per kg.
Merchants in Khatunganj said that after the implementation of the blockade to prevent coronavirus infection, the import of ginger from India was halted. Ginger imports from Myanmar also decreased to zero.
The supply of domestic ginger is also low in the market. So the entire market is dominated by imported Chinese ginger.
Executive Magistrate of the Chittagong District Administration under market supervision. Touhidul Islam told bdnews24.com that the wholesale price of Chinese ginger in the first week of April was Rs 120-130 per kg.
“The demand for ginger has increased due to publicity about the benefits of ginger tea in preventing the coronavirus. Since then, the price of ginger has increased daily and is now being sold at a wholesale price of Tk 250 per kg. “
The district administration’s expedition team began operation on Friday after the retail price of ginger was Rs 300 per kg.
Looking through the accounts of various warehouses and mokams in Khatunganj, Chaktai and Pahartali, they see that the price of ginger has soared from Tk 125 to Tk 250 since April 15.
Khatunganj Hamidullah Market Traders Welfare Association General Secretary of the Wholesale and Shopkeepers Organization. Idrich told bdnews24.com: “Importers have increased the price of ginger by leaps and bounds due to low supply.
“Ginger sold for 150 rupees initially, 160 rupees the next day, 180 rupees the next day, and 200 rupees the next day. As retailers continue to buy, merchants and wholesalers have bought and sold ginger at that price.” .
Sold at three times the import price
Officially, the import cost of 3,143 tons of ginger imported by 32 importers from Chittagong from January 1 to April 24 is Rs 25.26 million per ton.
Touhidul Islam said that the average import price of ginger is around 60 Tk per kg. They can sell this ginger for Rs 120-125 at a profit of 15 percent as it is perishable. But he is wholesale for 250 rupees.
Executive Magistrate Touhidul Islam said some importers, brokers and commission agents had “manipulated” the price of ginger.
“Importers have delivered warehouse managers directly from the port through commission agents and brokers, as there is demand. Today (Sunday) I went to the campaign and saw that the wholesalers do not have a receipt for the purchase. Importers have raised prices by calling warehouse managers. So you can’t show the receipt. “
On Sunday, the expedition team led by executive magistrates Touhidul Islam and Ali Hasan fined Kamal Uddin Brothers from the Hamidullah market in Khatunganj Tk 50,000 for selling ginger at a higher price.
Another executive magistrate, Abdus Samad Sikder, fined a merchant 10,000 tk for not having a receipt for buying ginger in the Pahartali market.
The expedition team went to Hamidullah Bazar, Nabi Supermarket, Amir Market, Yakub Building, Chaktai area of Khatunganj in search of importers and found most of them locked up.
A couple of importers have been able to test the sale of ginger online at the import price.
Ginger prices will drop in a few days, said the Secretary-General of the Hamidullah Market Welfare Association. Idrich
He said: “Ginger is actually from China at the port and if India closes, ginger will enter the market. As common buyers bought ginger for Ramadan, prices will drop as soon as imports increase.”
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