The Ministry of Commerce has granted permission to seven companies to import 4.5 crore eggs to control market volatility.
The Internal Trade-1 division of the ministry issued a notification in this regard today (8 October).
According to the Department of Livestock Services, the daily demand for eggs in the country is approximately five crores, while production exceeds six crore eggs.
Among the seven companies, Mim Enterprise has been permitted to import 1 crore eggs, Tawshin Traders 1 crore eggs, Suman Traders 20 lakh eggs, Alif Traders 30 lakh eggs, Himalaya 1 crore eggs, Prime Care Bangladesh 50 lakh eggs, and Zaman Traders 50 lakh eggs.
For each consignment, importers must submit a certificate from the competent authority of the exporting country, confirming that the eggs are free from avian influenza (bird flu) and harmful bacteria.
The necessary customs duties and other government regulations must also be complied with.
Also, importers must notify the relevant quarantine officials at least 15 days before each consignment.
After receiving the import approval, progress reports must be submitted to the commerce ministry every seven days. This approval will remain valid until 31 December 2024.
Currently, a total duty of 33% is currently levied on egg imports.
The Bangladesh Trade and Tariff Commission requested the National Board of Revenue to reduce this duty on 29 August, but no reduction has been implemented so far.
According to the state-owned Trading Corporation of Bangladesh, the local price of eggs has increased by 15% over the last month and by 20.41% over the last year.
Reports suggest that recent floods in several districts have damaged the poultry industry, and the sharp rise in the price of supplementary food products has put pressure on egg supply chains.
According to the Bangladesh Trade and Tariff Commission, if imports are allowed for a specific period with reduced tariffs, taking into account the protection of the local poultry industry, the potential negative impact on the industry will be minimal.
As eggs are conditionally importable, government approval is mandatory for any egg import.
