Agri product imports decline in FY24

Agri product imports decline in FY24

Bangladesh imports of essential agricultural commodities witnessed a significant decline in fiscal year 2023-24 compared to the previous year, a trend driven by a confluence of factors.
The dollar crisis, squeezing foreign exchange reserves, and steep price hikes in the international market forced a recalibration of import strategies, according to sector insiders and analysts.
According to import data from the Ministry of Agriculture, Bangladesh imported 11 essential agricultural products in FY24, totaling 87,12,633 tonnes. The country imported 10 agricultural commodities totaling 91,53,599 tonnes in the previous year.