Prices of maize, wheat rise in Hili

Prices of maize, wheat, and wheat husk imported from India have risen unbridled at Hili Land Port in Dinajpur. The prices of these three products have increased by Tk 4-8 each at Hili port in the last week.

On Wednesday, importers said banks have restricted Letters of Credit (LC) due to the dollar crisis. India has stopped exporting wheat and limited the amount of wheat husk and maize to be exported, which lead to the sudden price hike.

Apple Mahmud, a buyer from Bogura, said last week he bought wheat husk at Tk 38-40 per kg from the Hili port market. However, the price went up to Tk 46 on Wednesday.

Abdus Sobhan, a buyer from Sirajganj, said, he buys maize from Hili at a wholesale rate and sells them to different markets. “In the span of a day, the price of maize has gone up Tk 3-4 per kg. Importers said it is due to low imports”

Wheat buyer Rafiqul Islam of Dinajpur said the price of wheat has gone up from Tk 46 last week to Tk 52 this week.

Gholam Rabbani, a clearing and forwarding agent said maize is being sold at Tk 38 per kg and wheat husk at Tk 46 per kg.

Importer Rabiul Islam said India suddenly stopped exporting wheat to Bangladesh on May 12. He added that they are currently selling previously imported wheat. Meanwhile, imports of wheat bran and maize from India have reduced as banks have restricted LCs.

National Bank Hili branch manager Abul Kalam said, “There is no official order to limit LC. However, due to the dollar crisis, the LC is slightly lower than before.”