Commerce Minister seeks explanation for Tk 520 Malta price, orders action

Commerce Minister Khandaker Abdul Muktadir has ordered an explanation for the high retail price of Malta and called for urgent steps to boost imports and stabilise the market.

At a meeting with fruit importers and representatives of relevant government agencies at the Secretariat on Saturday (October 3), the minister questioned how the price of Malta had reached Tk 520 per kilogram despite import costs, duties, taxes and other expenses.

He directed the Directorate of National Consumer Rights Protection to take action if evidence of unjustified pricing is found, warning that there would be no scope for unreasonable price hikes.

Importers blamed supply shortages for the surge, saying weekly arrivals had fallen to as low as 12-29 containers, while the country needs around 15 containers a day to meet normal demand.

They also cited high duties, transport costs, shipping and port complications, as well as losses on previous consignments, for the decline in imports. The perishable nature of the fruit adds to the financial risks of transportation and storage.

After hearing the importers, Muktadir said the government would review issues related to Malta’s duties and explore alternative sources to increase supplies. He urged traders to open letters of credit quickly so that imports could rise within the next few weeks.

The minister also urged importers to prepare early for the upcoming demand for dates, saying the government would announce its decision on duties for the fruit this week.

The Bangladesh Trade and Tariff Commission will soon meet date importers to assess international source prices for different grades and establish a reasonable benchmark for customs valuation. The proposal will later be sent to the National Board of Revenue.

The minister said the valuation system must prevent both unreasonable customs assessments and under-invoicing to evade revenue, calling for greater transparency from both the government and businesses.