Imports thru Bhomra land port decline in first two months of FY24

Imports through the Bhomra land port in Satkhira have declined by more than 33,000 tonnes in the first two months of the current fiscal year compared to the same period of the previous fiscal year.

Importers say volatile exchange rates of the dollar in the country and high commodity prices in India have affected imports through the land port during the timeframe.

Despite the sharp decline in import volume, the import expenses during the time have increased by 1.5 times than the same period of the previous fiscal year, they said.

According to the revenue department of the land port, in July-August of the 2023-24FY, around 4.96 lakh tonnes of different products were imported through the port. The price of the imported products during the time was around Tk1,341 crore.

At the same time of the 2022-23FY, around 5.30 lakh tonnes of products worth more than Tk858 crore were imported through the port.

Among the products imported through the Bhomra land port are wheat, maize, rice, onion, garlic, ginger, turmeric, dry mustard, husk, stones and fruits.

Kazi Naushad Dilwar Raju, president of the C&F Agent Association of Bhomra land port, said if the situation persists, decreased imports would lead to higher prices and market instability in the country.