Photo: Collected
In recent months, agricultural product exports have experienced a decline at regular intervals. However, there is renewed optimism for the period from July to May in the new fiscal year, with expectations for an uptick in the export of domestically grown goods.
Industry insiders believe that this promising sector has been largely neglected by the government, with insufficient policy support and financial packages for agro-goods exporters. Despite this, agricultural product exports totaled $896.2 million, reflecting a notable growth of 14.3 percent.
According to Bangladesh bank (BB), vegetable export stood at $105.5 million, tobacco $178.1 million, spice $51.7 million, vegetable $187 million, dry food $202 million this year. In the corresponding period last year, vegetable export was recorded at $57.5 million, tobacco $161.3 million, spices $37.8 million and dry fruits $188.8 million.
However, vegetable export grew by 82.8 percent, tobacco 10.4 percent, spices 36.8 percent and dry food 7.4 percent.
Bangladesh Jute and Jute Goods Exporters Association President Shibli Mojumdar told the Daily Messenger “After the closure of BJMC, the buyers got a misinformation that Bangladesh stopped producing jute and jute goods otherwise export would rise more. Already, we have lost many of our buyer.”
The minister to the relevant ministry is very reluctant to enhance the jute and jute goods export. He could not restart any of the closed mill to production too, Shibli said.
He added, “We earn fresh dollars for the country exporting the local goods. And we don’t need dollars to import the raw materials. Also, the farmers will be interested for farming.”
A high official of Export Promotion Bureau (EPB) said that the export of tobacco has been gradually increasing within the last four years. The export of tobacco also increased by 28 percent in the last fiscal year.
He said that financial assistance on the export of tobacco at 10 percent is being provided from the beginning of the last year.
Besides, European Union (EU) will withdraw its 40 percent subsidy on tobacco from the beginning of the next year upon LDC graduation.
"The main reason is the increase in prices," said Md Amin Ullah, president of the Bangladesh Frozen Foods Exporters Association (BFFEA).
He said the recovery in shipments started since 2021 as demand for shrimp and its prices shot up in the main markets, such as Europe, owing to supply disruptions caused by Covid-19. But the current situation may make suffer the exporters, farmers as well.
Moreover, they want incentive support like RMG that will earn more foreign currency as the sector use local raw materials. So, the government can save dollars avoiding import of raw materials.
Messenger/Fameema
