Syndicate active manipulating orange price
Thursday, 6 December 2007
LALMONIRHAT, Dec 5 (UNB): A strong syndicate of fruit traders active at the Burimari landport is manipulating the price several times higher of orange imported from Bhutan.
According to the invoice, the import price of one carton (27kg) of orange is 8 dollars equivalent to Tk 560. Add to it the 35 cents (Tk 103) of cost in terms of duty, L/C and transport. The price comes to around Tk 700 a carton or Tk 6 per hali (four oranges).
But the syndicate sells one carton of the Bhutanese orange at around Tk 1,700 in the wholesale market.
Competent sources said Sadhan Babu of Badamtali in Dhaka city leads the 20-member syndicate. Haji Selim, a former AL lawmaker who is now a fugitive and lives in Bhutan, is coordinating the syndicate.
Customs sources identified the syndicate members as Karim, Majid and Siraj of Dhaka city, Mukul, Hannan, Mansoor, Mati and Matlub at Bogra which is the business heart of the northern region, and Yusuf and his associates in Chittagong. M/s Sawdagar Touch is the sole clearing and forwarding (C&F) agent of the syndicate.
According to information obtained from Bhutan, the export price of orange has recently been raised by 6 dollars to 14 dollars per carton. But the L/C documents still showed the import price at 8 dollars to evade duty.
The additional six dollars are smuggled to Bhutan through hundi. Assistant Customs Commissioner at Burimari landport Mahbubur Rahman expressed surprise at the exorbitant price of Bhutanese orange in the domestic market, which is imported cheap.
According to the invoice, the import price of one carton (27kg) of orange is 8 dollars equivalent to Tk 560. Add to it the 35 cents (Tk 103) of cost in terms of duty, L/C and transport. The price comes to around Tk 700 a carton or Tk 6 per hali (four oranges).
But the syndicate sells one carton of the Bhutanese orange at around Tk 1,700 in the wholesale market.
Competent sources said Sadhan Babu of Badamtali in Dhaka city leads the 20-member syndicate. Haji Selim, a former AL lawmaker who is now a fugitive and lives in Bhutan, is coordinating the syndicate.
Customs sources identified the syndicate members as Karim, Majid and Siraj of Dhaka city, Mukul, Hannan, Mansoor, Mati and Matlub at Bogra which is the business heart of the northern region, and Yusuf and his associates in Chittagong. M/s Sawdagar Touch is the sole clearing and forwarding (C&F) agent of the syndicate.
According to information obtained from Bhutan, the export price of orange has recently been raised by 6 dollars to 14 dollars per carton. But the L/C documents still showed the import price at 8 dollars to evade duty.
The additional six dollars are smuggled to Bhutan through hundi. Assistant Customs Commissioner at Burimari landport Mahbubur Rahman expressed surprise at the exorbitant price of Bhutanese orange in the domestic market, which is imported cheap.