Import tax cut to tame chilli prices
A sharp rise in green chilli prices has added to the financial strain on consumers, prompting the government to slash import taxes and approve immediate imports in an effort to stabilise the market and ease pressure on household budgets.
Green chillies are currently selling for Tk 320 to Tk 380 per kilogram in markets across the capital, although prices climbed to as high as Tk 400 per kg just two to three days ago, leaving many consumers struggling to afford one of the country’s staple cooking ingredients.
Against this backdrop, Commerce Minister Khandaker Abdul Muktadir, Agriculture Minister Mohammad Amin-ur-Rashid and State Minister for Food Md Abdul Bari visited Shantinagar kitchen market in Dhaka on Sunday to assess the prices and availability of essential commodities.
Dhaka South City Corporation Administrator Md Abdus Salam also accompanied the ministers during the visit.
Speaking to The New Nation, Agriculture Minister Amin-ur-Rashid attributed the price surge to seasonal shortages rather than market manipulation.
He said domestic chilli production typically declines during July and August, when heavy rainfall disrupts cultivation, resulting in lower supplies in the market.
Asked whether the current shortage was caused by market syndicates or reduced production, the minister said the off-season decline in output was the primary reason behind the recent price spike.
To address the shortage, he announced that the government had decided to reduce the existing import duty on green chillies and granted permission for imports, which are scheduled to begin on Monday.
“We are optimistic that once imports begin, the market will not take long to stabilise,” he said, expressing hope that prices would return to a reasonable level within two to five days.
The agriculture minister said the government had acted swiftly to increase supply by facilitating imports, which he believes will help restore market stability in the coming days.
Commerce Minister Khandaker Abdul Muktadir said the government would take all necessary measures to keep essential commodity prices within consumers’ reach.
Addressing journalists during the market visit, he urged the media to report market conditions accurately.
“Present what you witness on the ground objectively. This will help create public awareness, reduce confusion and ensure that no one gets the opportunity to create artificial shortages or manipulate prices,” he said.
Before visiting the market, the commerce and agriculture ministers, along with the state minister for food, held a meeting at the Ministry of Commerce to review the overall supply and pricing of food and agricultural products and determine immediate measures to improve market conditions.
Despite the government’s assurances, consumers continued to express concern over the soaring prices, saying the sharp increase in the cost of green chillies has added to the burden of already elevated household expenses.
The latest intervention reflects the government’s efforts to contain food inflation and prevent further price volatility, with officials hoping that fresh imports will improve supplies and bring relief to consumers within the week.
