Government fixes date prices for Ramadan

The commerce ministry has fixed the price of dates, a key item of iftar.

In a notice on Monday, the ministry fixed the price of low grade dates at Tk 150 to Tk 165 per kilogramme (kg).

Prices of Zahidi dates, the widely-consumed variety, would be Tk 170-Tk 180 a kg, according to the notice that was sent to the Federation of Bangladesh Chambers of Commerce and Industry and Bangladesh Fresh Fruits Importers Association.

In Dhaka, dates of general grades are sold at Tk 280-Tk 450 a kg today, which is 22 percent higher year-on-year, according to market prices data collected by the Trading Corporation of Bangladesh (TCB).

The price fixation comes just ahead of the beginning of the fasting month of Ramadan, which accounts for half of 100,000 tonnes of dates consumed in Bangladesh through imports, according to an estimate by Bangladesh Trade and Tariff Commission.

The new duty rates for import of dates have already become effective and will remain in force until March 30.

In early February, the National Board of Revenue slashed import duty on dates to 15 percent from 25 percent in order to encourage traders to cut the price and enable consumers to buy the food item at low rates.

Prices, however, rose as demand grew ahead of the Ramadan.

In Dhaka, retail price of general grades of dates edged up 4 percent over the last one month, according to TCB data.