H1 import of paperboards rises 88pc

The country's import of paperboards almost doubled in the first six months (H1) of the current fiscal year (FY), 2014-15, following a rise in the demand from local printing and packaging industries, insiders said.
The import of paperboards witnessed a sharp rise of 88 per cent in the H1 of the FY '15 against that of FY 14. Businesses attributed it to the rising demand from diary, greetings card and calendar manufacturers as well as garments-oriented packaging units.
However, import of newsprint posted a slight fall of 1.7 per cent, as the local mills are leading the sector.
Import of papers including newsprint fell to US$104.0 million (as per settled L/Cs) during the July-December period of FY 15 against $105.8 million in the corresponding period of the previous fiscal. Import of paperboards, both at commercial and industrial levels, was recorded at $89.49 million against $47.67 million, according to the Bangladesh Bank data.
President of Bangladesh Paper Importers' Association Shafiqul Islam Varasha said import of commercial newsprint and white print almost stopped, as the local companies are now fulfilling the domestic demand.
"Newspaper industry is now importing newsprint due to lower import duty on the item," said Mr Varasha, also director of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
He said greetings card, diary and calendar manufacturers as well as RMG-based packaging industries see a high demand for paperboards and different types of papers. This has pushed up the import of paperboards.
"Export of corrugated carton and other packaging products is now a big source of export earning for Bangladesh. Local carton manufactures import a big volume of paperboards for their industry."
"The country still is lacking in offset paper, cigarette paper, coloured paper etc, which are imported," he pointed out.
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