Tariff Commission again calls for duty cut to calm egg prices   

Nearly after over a month, the Bangladesh Trade and Tariff Commission (BTTC) has once again urged the National Board of Revenue (NBR) to withdraw import duties on eggs to cool off local prices. 

The commission says that if the current 33 percent duty on eggs continues, imports of the key source of protein for the poor would not make much price difference in the local market.

On August 29, the commission sent an analytical report to the revenue board recommending duty cuts for the import of onions, potatoes and eggs. 

On September 4, duties on potato and onion imports were reduced by the revenue board. Consequently, prices of the two food items have largely stabilised in the local market.

Meanwhile, the BTTC informed the NBR today that no steps had been taken to exempt the duty on egg imports as recommended.
The commission said egg prices have increased abnormally due to a lack of adequate supply in the local market since the recent flooding and poultry losses in many districts.

According to the state-run Trading Corporation of Bangladesh (TCB), egg prices have increased by 15 percent in the last one month and 20.41 percent in one year.

Due to the recent floods in different districts of the country, the poultry industry has been affected and the price of other supplementary food products has increased abnormally, creating a kind of pressure on the supply system of eggs in the local market, said the commission. It believes allowing egg imports for a brief period would not harm the local poultry industry. 

The report mentioned that there is no concern about revenue losses too from the exemption in the short term as there were no egg imports in recent years. 

Sumon Howlader, president of the Bangladesh Poultry Association, a platform of local poultry farmers, said small farms across the country produce 4.5 crore eggs every day against the demand of about 4 crore.