The Ministry of Commerce has taken two big decisions in one day to restore stability in the egg market. First, permission to import 4.5 million pieces of eggs to seven companies. Secondly, writing to the National Board of Revenue (NBR) to reduce the import duty on eggs. The import permit will remain valid till December. The ministry issued a notification on Tuesday regarding imports.
According to the Department of Animal Husbandry, the country has a daily demand of around 5 crore pieces of eggs. At present, this import permission has been allowed for a limited period of time in order to keep the market price stable, according to the notification of the ministry. The seven companies which have been allowed to import are M/s Mim Enterprises of Dakshin Jatrabari, Dhaka 1 crore pieces, M/s Taosin Traders of Chowrasta Mor, Jessore 1 crore pieces, M/s Sumon Traders of Lobsha area of Satkhira 20 lakh pieces. Apart from this, Alif Traders of Bhagi area of Rangpur got permission to import 30 lakhs, Himalaya of Motijheel commercial area of the capital 1 crore, M/s Prime Care Bangladesh of Shantinagar 50 lakhs and M/s Zaman Traders of Tejkunipara got permission to import 50 lakh pieces of eggs.
Recommendation for withdrawal of customs duty on eggs: At present 33 percent customs duty is to be paid on import of eggs. On the other hand, the price of eggs has increased to Tk 180-185 per dozen due to damage to the poultry industry due to recent floods. The Tariff Commission has again recommended the withdrawal of duties to regulate the egg market. A letter in this regard has been given to NBR from the trade policy department of the organization on Tuesday.
It is said that on August 29, Bangladesh Trade and Tariff Commission sent an analytical report to NBR regarding the reduction of import duties on essential commodities onion, potato and egg. As per the recommendation on September 4 import duty on potato and onion from NBR has been reduced. It has been seen that the price of these two products has returned to stability in the local market.
Recently due to lack of adequate supply of eggs in the local market the prices have gone up abnormally. According to TCB calculations, the local price of eggs has increased by 15 percent in the last one month and 20.41 percent in 1 year. Besides, the information obtained shows that due to the loss of the poultry industry due to the recent floods in various districts of the country and the natural increase in the prices of other complementary food products, there has been a kind of pressure in the supply system of eggs in the market.
