Salt price drops as huge stockpiles lie unsold
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
January 31, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, JANUARY 31, 2023
Salt price drops as huge stockpiles lie unsold

Industry

Sifayet Ullah
21 July, 2020, 12:15 pm
Last modified: 21 July, 2020, 12:15 pm

Related News

  • 61% of processed foods have too much salt: Study
  • Potassium salt lowers health hazards
  • Salt substitutes may reduce early death from cardiovascular: Study
  • Rawhide businesses worry as salt price doubles in 3 months
  • Excessive salt intake to cause 1.6 million deaths this year

Salt price drops as huge stockpiles lie unsold

Traders say the cost of preserving rawhide of sacrificial animals will be less this year

Sifayet Ullah
21 July, 2020, 12:15 pm
Photo: UNB
Photo: UNB

 


Highlights:

  • Unrefined salt price drops by Tk3-Tk4 per kg in a year
  • Salt is Tk6-Tk8 per kg
  • Last year it was Tk10-Tk11
  • Required amount is 1.5 lakh to preserve rawhide during Eid-ul-Azha
  • 5,00,000 tonnes of unsold salt in the country
  • In the past, 20,000 to 25,000 kg of salt was refined every day in Lalmia Salt Mill at Chaktai in Chattogram
  • 15,000 kg of salt is refined at present
  • preserving a 20-feet rawhide was Tk250 which will be Tk150
  • demand for salt is 18,24,000 tonnes in 2020
  • 21 lakh tonnes of salt have been produced

The price of salt increases every year before Eid-ul-Azha, but this time the price of unrefined salt has come down because of the crisis caused by the Covid-19 pandemic.

In the salt mills in Chattogram, unrefined salt is selling at Tk6-Tk8 per kg depending on the quality and area. Last year the same salt sold for Tk10-Tk11, a drop by Tk3-Tk4 per kg.

According to the Bangladesh Salt Mill Owners Association, most of the crude salt is used to preserve the raw animal hide. Whereas 1.5 lakh tonnes of salt will be required to preserve the skins of sacrificial animals during the upcoming Eid-ul-Azha,the country has currently a stock of five lakhs tonnes of unsold salt.

In the past, an average 20,000 to 25,000 kg of salt was refined every day in Lalmia Salt Mill at Chaktai in Chattogram but due to the pandemic, an average of 15,000 kg of salt is being refined at present.

Farid Uddin, the owner of Lalmiya Salt Mill, said that the price of local salt is declining due to the imported salt. Moreover, Covid-19 has created a new crisis in the salt industry. Almost all mills have unsold salt, so the prices have also come down. Sales are down by 20-30 percent.

"I used to collect salt separately for Eid-ul-Azha every year but this time the situation is bad. So, I'm just selling the existing stock of salts I have," he said.

Nurul Kabir, president of the Bangladesh Salt Mill Owners' Association, told The Business Standard that the country's salt industry is under threat due to the imported salt while Covid-19 has worsened the situation. Millions of tonnes of industrial salt are unsold due to the closure of mills.

Besides, crude salt used to preserve animal skin is also extra. So, there is no possibility of price increase, rather prices may fall.

Leather traders said the cost of preserving the rawhide of the sacrificial animalswould come down this year.

Mohammad Muslim Uddin, former president of the Greater Chattogram Raw Leather Storekeepers' Cooperative Society, said the cost of leather preservation would decrease this time as the price of salt was lower. For example, if the cost of preserving a 20-feet rawhide was previously Tk250,it will be Tk150.

According to the Bangladesh Small and Cottage Industries Corporation, the demand for salt in the country is 18,24,000 tonnesin 2020. However, the country has produced about 21 lakh tonnes of salt. There are around 30,600 salt farmers in the country.

Economy / Top News

Salt industry / Salt / Salt price

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image. Photo: MumitM/TBS
    Another bolt from blue for consumers as retail power price hiked by 5%
  • The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
    IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms
  • Photo: TBS
    Bangladesh remains one of the most corrupt countries in South Asia

MOST VIEWED

  • Sketch: TBS
    Industries need to be energy-efficient
  • It is high time we focus on the logistics sector
    It is high time we focus on the logistics sector
  • Toy makers seek dedicated zone, govt support
    Toy makers seek dedicated zone, govt support
  • Mechanisation vital for commercialising agriculture: Minister
    Mechanisation vital for commercialising agriculture: Minister
  • Manufacturers feel the pinch as consumers tighten belt
    Manufacturers feel the pinch as consumers tighten belt
  • Illustration: TBS
    Commerce ministry to continue advocacy for simplification of business registration process: Minister

Related News

  • 61% of processed foods have too much salt: Study
  • Potassium salt lowers health hazards
  • Salt substitutes may reduce early death from cardiovascular: Study
  • Rawhide businesses worry as salt price doubles in 3 months
  • Excessive salt intake to cause 1.6 million deaths this year

Features

Photo: Collected

Tips to incorporate sustainable construction

1h | Habitat
Photo: Noor-A-Alam

How did mud walls find their way into urban designs?

3h | Habitat
Spotify is among the tech platforms that saw record growth during Covid lockdowns
Photo: DW

Could tech layoffs spread to rest of US economy?

6h | Panorama
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

6h | Panorama

More Videos from TBS

Two more factories of the country got platinum certificate.

Two more factories of the country got platinum certificate.

17h | TBS Today
Iconic villains of Bollywood

Iconic villains of Bollywood

18h | TBS Entertainment
General knowledge "Gravity"

General knowledge "Gravity"

16h | Videos
Will tanks turn the tide for Ukraine?

Will tanks turn the tide for Ukraine?

17h | TBS World

Most Read

1
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

4
Photo: Collected
Energy

8 Ctg power plants out of production

5
Photo: Saqlain Rizve
Bangladesh

Bangladeshi university students identified as problematic users of Facebook, internet: Study

6
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]