Costly Chinese import drives up garlic prices

The price of both imported and local garlic increased over the last few days as import cost from China rose and the domestic variety is yet to arrive in the market, traders said.
 "We've been importing garlic at a higher rate in the last two weeks--around $ 30 to $ 100 per tonne," Abul Kalam Azad, a garlic importer at Shyambazar, told the FE
He said price of imported garlic increased from $ 820-$ 850 per tonne 15 days ago to $ 850-$ 950 per tonne depending on its type.
Mr Azad said local importers have to pay the price during new import.
In the last 10-15 days, the imported price increased gradually. The import cost rose as the Chinese exporters are selling stockpiled and frozen garlic.
The wholesale price of a kilogram of imported garlic Thursday was between Tk 77 and Tk 80, which was slightly went up as the wholesalers are selling old garlic, imported at lower rate.
On the other hand, the wholesale price of a kg local garlic variety was sold at Tk 58, up from Tk 40-Tk 45.  
Majharul Alam, a retailer of Mohammadpur, said the price of a kilo of imported and local variety of garlic was sold between Tk 80 and Tk95,  the rate was between TK 80-Tk90 a week ago.
Regarding the local verity, traders said the price of local verity will fall when the newly harvest garlic enters the market.
Mr Azad said around 150 Letters of Credit have already been opened to import garlic from China and it takes around 21 to 22 days to reach the imported product to the seaport of Bangladesh.
He expressed the hope that if supply is stabilised, it will help bring the price down further.   
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