The holy month of Ramadan—marking a period of fasting for Muslims—is knocking at the door. During this time, traditional dietary habits undergo slight changes to accommodate religious customs in iftar and suhoor meals.
The demand for essential commodities like edible oil, dates, sugar, onions, potatoes, and chickpeas rises significantly across the country, prompting businesses to prepare in advance. This year is no exception, as traders have already begun their preparations well ahead of Ramadan.
In January, which ended on Friday (January 31), a massive volume of essential goods was imported in anticipation of Ramadan—enough to meet the demand for the entire fasting month in many cases. In some instances, imports have even exceeded the expected demand.
Importers say that more essential goods will be imported throughout February, increasing supply further. There were initial concerns that the supply chain might be disrupted due to reduced imports from major industrial groups following recent political changes. However, many previous importers have resumed operations, and new businesses have entered the market, ensuring a steady supply of goods.
To facilitate increased imports and control prices, the interim government granted tariff exemptions on various essential goods, including edible oil, sugar, onions, potatoes, and dates. Additionally, the foreign exchange crisis for opening letters of credit (LCs) has eased significantly, encouraging more imports.
According to the Bangladesh Trade and Tariff Commission (BTTC), the estimated demand for edible oil during Ramadan is around 300,000 tons. Data from the National Board of Revenue (NBR) and Chattogram Customs reveal that nearly 400,000 tons of soybean and palm oil were imported in the first 29 days of January alone. Additionally, 300,000 tons of soybean seeds—used as raw material for producing soybean oil—were imported, which will yield approximately 50,000 tons of oil. As a result, the supply is expected to surpass Ramadan's demand.
The demand for sugar during Ramadan is also around 300,000 tons. In January, Bangladesh saw its highest raw sugar imports in the past 15 months, totaling 153,000 tons. Another 100,000 tons have already arrived at ports, with more expected in February. The global market price for sugar is declining, further aiding imports.
The government has reduced tariffs on sugar, lowering duties by a minimum of Tk 30 and a maximum of Tk 122 per kilogram. Consequently, importers have ramped up sugar imports since January, with more shipments expected before Ramadan.
Faruk Ahmed, owner of Faruk Trade International, a leading date importer, noted that the demand for dates during Ramadan stands at around 60,000 tons. In January, 22,000 tons were imported, with larger shipments expected in February. He confirmed that the government's tariff exemptions have significantly reduced import costs, encouraging traders to bring in more stock.
The demand for chickpeas during Ramadan is approximately 100,000 tons. In January, 93,000 tons were imported, with an additional 15,000 tons arriving in December. Similarly, 62,000 tons of lentils were imported in January, and a ship carrying another 25,000 tons docked at the port last Wednesday. More lentil imports are expected in February.
The demand for yellow peas, another staple during Ramadan, is estimated at 100,000 tons. In January, imports exceeded this demand, reaching 108,000 tons.
Onion imports have been relatively low, but the local onion harvest is in full swing, leading to a significant price drop. Since the main onion season coincides with Ramadan, traders expect prices to remain stable.
According to NBR data, from January 1 to January 29, total imports of onions, chickpeas, yellow peas, lentils, edible oils (palm and soybean), raw materials for oil production, sugar, wheat, and dates amounted to $1 billion—an increase of approximately 74% compared to the same period last year. The total volume of these imports stood at 1.624 million tons.
Nearly 88% of Ramadan-related essential goods enter Bangladesh through Chattogram port. As of yesterday, 32 ships were docked at the port, carrying 1.267 million tons of goods, most of which have already been unloaded, with the rest in progress. Some ships have already left after unloading their cargo.
Ahsan Khan Chowdhury, Chairman and CEO of Pran-RFL Group, stated, "Pran Group will gradually import all essential goods. Our goal is to ensure that consumers receive products at competitive prices."
An anonymous official from Smile Food Products in Chattogram confirmed that they are currently importing wheat and edible oil and plan to start refining sugar in the future. The company is in the process of acquiring a sugar refinery.
Previously, Nasa Group and Madina Group were among the major importers of dates. However, following political shifts, the police arrested Nasa Group's Chairman Nazrul Islam Mazumder and Madina Group's Chairman Haji Mohammad Selim. As a result, Nasa Group has ceased date imports, and Madina Group has significantly reduced its imports. However, new businesses have stepped in to fill the gap.
When asked about the supply and pricing of essential goods for Ramadan, Mostafa Haider, Director of TK Group—one of the country's top trading firms—said that imports have increased significantly in January. Additional shipments are in the pipeline for February, ensuring a stable market supply. "The global market is relatively stable, so I don’t see any reason for concern," he added.
Dr. Mustafizur Rahman, a distinguished fellow at the Center for Policy Dialogue (CPD), remarked that some businesses previously engaged in importing essential commodities are no longer in a position to operate. While this initially raised concerns about supply shortages, the surge in imports and the entry of new businesses have mitigated those fears. However, he warned that during Ramadan, the price gap between importers and consumers tends to widen significantly, allowing some traders to exploit the situation. He emphasized the need for increased government monitoring and regulatory oversight to prevent market manipulation.