The government has been initiating various strategies for the last several months to keep the price of consumer goods bearable during the Holy month of Ramadan.
Transport vessels, the Dollar crisis and complicacy around LC opening to import products have been resolved as well and the importers are optimistic that the supply of oil, wheat, chickpeas, sugar, onion, pulses and others will be steady during Ramadan.
As a result, the price of daily necessities in the market will be affordable.
The annual demand for edible oil in the country is about 2.2 million tons and during Ramadan only, the demand is approximately three lakh tons.
About 65% of this demand is palm oil while the remaining 35% is soybean oil.
Importers have started procuring palm oil and soybean oil to maintain a steady supply of edible oil during Ramadan.
S Alam Group, one of the top importers of the country, is importing 120,000 tons of crude palm oil during February, March, and April for Ramadan, reads a press release.
The company is also importing 15,086 tons of crude soybean oil in February and March, which is almost equivalent to 50% of the country's demand.
It will contribute to keeping the oil supply and market price affordable during Ramadan.
There is an annual demand of about 6.3 million tons of wheat (excluding domestic production) in the local market.
Consumers require about 528,000 tons of wheat monthly. Demand for food products usually rises during Ramadan and S Alam Group is importing 3 lakh 62 thousand tons of wheat on the occasion of Ramadan, which is about 68% of the total demand.
Apart from this, two ships carrying 1 lakh 15 thousand tons of wheat will enter the country by March 20.
The annual demand for sugar in the country is about 2.4 million tons.
For only Ramadan, the demand is about 272,000 tons and S Alam Group is importing about 330,000 tons of sugar to keep the market stable during Ramadan.
As of now, a ship called ‘Densa Tiger' with 50 thousand tons of sugar is being unloaded at the Chittagong port.
Similarly, consumers annually demand 136,000 tons of chickpeas. The demand stands at about 91000 tons during Ramadan month only.
S Alam Group is importing 45,000 tons of chickpeas during Ramadan, which is almost 50% of the total demand.
Md Akhtar Hasan and Md Rafiq, senior representatives from S Alam Group's department of international procurement-sugar, wheat, chickpeas, and international procurement-edible oil, said: "We have to import most of the products required during the Holy Ramadan. Despite the challenges of the Dollar crisis, LC complications, the Ukraine-Russia war, and other challenges, we have been able to import most of the products flawlessly with the government's support. I hope the people of the country will not suffer any more during Ramadan. They can buy oil, wheat, chickpeas, and sugar at an affordable price. S Alam Group will always stand by the people of this country to alleviate their sufferings.”