A suspected market syndicate has nearly doubled ginger prices ahead of Eid-ul-Azha by deliberately leaving 11 lakh kilograms of the spice stranded at Chattogram port.
The spice, an essential cooking ingredient during the upcoming meat-heavy festival, has seen its wholesale price in Khatunganj surge from Tk110 to nearly Tk190 per kg in just weeks. In retail markets, ginger is now selling for up to Tk220 per kg.
Traders blame the sudden hike on a supply shortage, claiming importers stopped opening letters of credit (LCs) due to earlier financial losses. However, import data and consumer rights advocates tell a different story.
Chattogram Customs data reveals that ginger imports have actually increased significantly. Between July and April of the current fiscal year, 62,394 tonnes of ginger were imported—a sharp rise from the 38,547 tonnes imported during the same period last year.
Despite this surplus, 14 importers have left 41 containers carrying 11 lakh kg of ginger unreleased at Chattogram port between April 20 and May 10. Importers and their C&F agents, such as Marco International, claim the delays are simply due to "documentation issues" and promise clearance by Saturday.
Consumer advocates dismiss these claims. SM Nazer Hossain, Vice-President of the Consumers Association of Bangladesh (CAB), said using the port as a free warehouse to manipulate the market is an old tactic.
"Traders always need an excuse to raise prices, and the LC crisis is just another pretext," Hossain said. "Instead of conducting business normally, they formed syndicates to hike prices during the festive season. The authorities must take punitive action, including confiscating these goods."
Following widespread allegations, authorities are stepping in. Chattogram Deputy Commissioner and District Magistrate Mohammad Zahidul Islam Miah confirmed he is working directly with the customs commissioner to force the release of the goods.
Customs and district administration officials summoned the involved C&F agents on Tuesday, issuing a strict ultimatum to clear the stranded consignments by Saturday or face immediate legal action.
According to the Department of Agricultural Extension (DAE), Bangladesh consumes roughly 5 lakh tonnes of ginger annually, with local production meeting about half of that demand.
