DHAKA, Feb 21, 2025 – The import of key essential commodities, including sugar, soybean oil, lentils, and chickpeas, has surged in the last four months, driven by increased demand ahead of Ramadan, inflationary pressures, and shifts in global supply chains, according to the latest data from Bangladesh Bank (BB).
Sharp Rise in LC Settlements
The settlement of letters of credit (LCs) for these essential goods recorded double-digit growth, reflecting a significant increase in imports.
- Sugar imports jumped 20%, reaching 454,034 tonnes between October 2024 and January 2025, compared to 378,265 tonnes in the same period a year earlier.
- Soybean oil imports rose 35%, totaling 598,252 tonnes, up from 447,820 tonnes last year.
- Lentil imports saw the largest surge, skyrocketing 86% to 157,837 tonnes, compared to 109,378 tonnes in the previous year.
- Chickpea and gram imports increased by 85% and 64%, respectively, reflecting strong demand for pulses.
Ramadan Demand and Market Impact
The sharp rise in imports is largely attributed to Ramadan-driven consumption, as households and businesses stockpile essential food items. Additionally, inflation and global supply chain disruptions have further influenced import patterns, prompting traders to secure higher volumes in advance.
With the holy month approaching, analysts expect continued demand growth, which may impact commodity prices and market stability in the coming weeks.
