CHATTOGRAM, Nov 01: Some wheat-loaded ships arrived at Chittagong Port from different countries recently amid an increase in wheat prices in the country and a global supply crunch of the staple grain triggered by Ukraine-Russia war.
At least five ships loaded with imported wheat anchored at Chittagong Port on Tuesday while five more vessels are on their way to Chattogram which are likely to arrive soon at the country's prime sea port, officials said.
However, both importers and wholesale traders in the port city said arrival of the five vessels with imported wheat may not influence wheat price in the local market.
Visiting different port city markets on Tuesday, this correspondent found that wheat was trading at Tk 1,900 per mound at the wholesales in Khatunganj, one of the largest wholesale markets in Chattogram.
Both traders and buyers said the price of wheat was Tk 1,650 a mound at the same market on Thursday last. It was also found that flour, a product of wheat, was selling at Tk 75 per kilogram on Tuesday at the retails which was Tk 60 on Sunday last.
Both traders and buyers said prices of wheat and flour continued to increase in the local markets in the last few months.
Talking with The Financial Express, some Chattogram-based wheat importers said, the current wheat supply crisis has been triggered by the war between Ukraine and Russia, the world's top two wheat exporters. "Now, we are facing crisis of wheat for the war," he said.
"We used to import wheat from diversified sources, including countries like India, Bulgaria and Romania. But recently those countries also halted supply of wheat amid the ongoing Ukraine-Russia conflict," he said.
Md Shahidul Islam, Managing Director of Kishwan Group, said not only wheat prices, costs of different raw materials have been increasing in the world since the start of the Russia-Ukraine war in February this year. Crises of wheat and other raw materials have been continuing in Bangladesh since then due to the war, he also said.
It seems that wheat production rate too may decline this year compared to previous year, said a miller.
Echoing them, Mohammed Jahangir Alam, an importer and owner of Al Mawa Corporation said, crises of wheat and flours are increasing day by day in the market as Ukraine, Russia, Romania, Bulgaria stopped shipments of wheat to other countries. "We in Bangladesh are also facing the crisis due to the conflict. India, which is our friendly country, has also stopped export of wheat to Bangladesh. A good many exporters have cancelled LCs in the past two weeks," he added.
Mohammed Sekandar, another importer, said Bangladesh is facing crisis for wheat and flour now as the import of these goods had remained stopped for a long time recently."
Omar Faruk, Secretary of Chittagong Port Authority (CPA) said that wheat is usually imported through Chittagong Port, the prime seaport of the country. "Presently, there are 5 ships loaded with wheat are staying in the Chittagong Port. So, there will be no crisis of commodity as the ships will unload the imported wheat within the 2 or 3 days," he added.
President of Chittagong Chamber of Commerce and Industry (CCCI) Mahbubul Alam said the Ukraine-Russia war has created a worldwide crisis which also impacted Bangladesh. "Prices of wheat and flour are increasing due to the war. I hope that our government will take steps to import wheat from (different) other countries," he said.
Mr Alam also informed that at least 5 other ships loaded with wheat are coming to Chittagong Port. "The shipments may reach the port in the current month. So, we can meet our demand through imports," he added.
Sources said annual wheat demand in Bangladesh is around 8.0 million metric tonnes. Of the total demand, 90 per cent is met through imports.
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