Oil mill owners are importing mustard seeds through Hili port in Dinajpur as the soybean oil prices and demand for mustard oil have shot up in recent months.
The import of mustard seeds through the port began for the first time on March 14, and since then, some 587 tons of seeds have been imported, according to port officials.
The cost of per ton seeds is estimated between $1,050 and $1,080, exported by Maruti Udyog of Rajasthan.
C&F Agent of the importers Ahmed Kabir Babu said that many oil mill owners were importing mustard seeds due to low prices in India and rising demand in the local market.
“Supply of local seeds is not adequate and the price is relatively higher. The imports will be more profitable if the dollar price becomes stable,” he added.
Revenue Officer at the port SM Nurul Alam Khan said that the importers were enjoying duty-free facility in case of mustard seeds.
“The trucks carrying mustard seeds are released at the earliest since it’s an essential commodity,” he added.