Imported spice mkt size now at Tk 5b
Friday, 5 December 2008
Jasim Uddin Haroon
The size of the imported spice market stands over Tk 5.0 billion a year despite a significant fall in the international prices.
The main imported spices include cumin seed, ori, cloves, cardamom and black pepper.
Around 10 per cent of the imported spices are consumed during Eid-ul-Azha festival, market operators said.
Besides, the market size of the branded spices including crushed chilly, turmeric and coriander powders are worth around Tk 1.5 billion.
Shafayet Hossain, a leading importer of spices at city's Moulvi Bazar said the market size of spices in terms of money has shrinked recently following fall in their international market prices.
"The market would have been at least 40 per cent higher if prices of the items remained in the previous level," Shafayet, owner of Shafayet and Brothers told the FE.
This market size was compiled from data provided by the leading importers of spices at Khatoonganj in Chittagong and Moulvibazar in Dhaka.
Importers said the annual consumption of cumin seed in the country is around 6000 tonnes a year and its wholesale price is now Tk 230 a kilogram against Tk 310 previously. Local importers procure the item mainly from India, Syria, Iran, Turkey and China. "We prefer to import from India mainly due to low freight costs and quick shipment," Md Absar, an importer at Khatoongajn said.
The local demand for ori is around 4000 tonnes and its wholesale price is Tk 112 a kilogram now against the previous price of Tk 140 per kilo.
Bangladesh's annual demand for cardamom is around 2000 tonnes and the wholesale prices currently range between Tk 780 and Tk 850 against Tk 1100 a kilogram few months back.
The annual demand for clove is around 2500 tonnes a year and its wholesale price is Tk 530-580 a kilogram, traders said.
The annual demand for black pepper is between 800 and 1000 tonnes and its wholesale prices is Tk 300 a kilogram. The previous price of the item was Tk 425 a kg. Local importers procure it mainly from Vietnam.
Local importers purchase Ori from China, cardamom from Guatemala and India. They import clove from Brazil, Indonesia and Madagascar.
The size of the imported spice market stands over Tk 5.0 billion a year despite a significant fall in the international prices.
The main imported spices include cumin seed, ori, cloves, cardamom and black pepper.
Around 10 per cent of the imported spices are consumed during Eid-ul-Azha festival, market operators said.
Besides, the market size of the branded spices including crushed chilly, turmeric and coriander powders are worth around Tk 1.5 billion.
Shafayet Hossain, a leading importer of spices at city's Moulvi Bazar said the market size of spices in terms of money has shrinked recently following fall in their international market prices.
"The market would have been at least 40 per cent higher if prices of the items remained in the previous level," Shafayet, owner of Shafayet and Brothers told the FE.
This market size was compiled from data provided by the leading importers of spices at Khatoonganj in Chittagong and Moulvibazar in Dhaka.
Importers said the annual consumption of cumin seed in the country is around 6000 tonnes a year and its wholesale price is now Tk 230 a kilogram against Tk 310 previously. Local importers procure the item mainly from India, Syria, Iran, Turkey and China. "We prefer to import from India mainly due to low freight costs and quick shipment," Md Absar, an importer at Khatoongajn said.
The local demand for ori is around 4000 tonnes and its wholesale price is Tk 112 a kilogram now against the previous price of Tk 140 per kilo.
Bangladesh's annual demand for cardamom is around 2000 tonnes and the wholesale prices currently range between Tk 780 and Tk 850 against Tk 1100 a kilogram few months back.
The annual demand for clove is around 2500 tonnes a year and its wholesale price is Tk 530-580 a kilogram, traders said.
The annual demand for black pepper is between 800 and 1000 tonnes and its wholesale prices is Tk 300 a kilogram. The previous price of the item was Tk 425 a kg. Local importers procure it mainly from Vietnam.
Local importers purchase Ori from China, cardamom from Guatemala and India. They import clove from Brazil, Indonesia and Madagascar.