Imports of 6 essentials surge ahead of Ramadan
Highlights:
Ahead of the upcoming Ramadan, top business conglomerates and importers have significantly increased imports of six essential consumer goods to meet seasonal demand, central bank data shows.
Soybean oil, sugar, lentils, chickpeas, split peas, and dates – items that are widely consumed during Ramadan – have seen a notable rise in import letters of credit (LCs) for September and October this year.
Data shows, soybean oil imports rose by 36%, sugar by 11%, lentils by 87%, chickpeas by 27%, split peas by 294%, and dates by 231%, compared to the same period last year.
Ramadan will be observed from 17 February 2026. The exact start and end dates depend on the sighting of the new crescent moon.
Major corporations such as Meghna Group, City Group, Square Group, Edible Oil Limited, Bashundhara Group, and TK Group have been the principal importers of edible oil and sugar.
Meanwhile, private traders, indenters, and larger commercial groups have focused on importing pulses, chickpeas, and similar items, as domestic production meets only 20–30% of national demand.
A senior official of a leading business group told TBS that preparations for Ramadan are already well underway.
"Demand for oil and sugar always spikes during Ramadan. That is why top groups have opened LCs for these commodities in September and October. Large-scale purchases of other essential Ramadan items have also been made in advance," he said.
He added that this trend is expected to continue into November and December. "While most goods are imported ahead of the fasting month, remaining stocks will arrive up to a month before Ramadan begins. However, September saw the bulk of LCs opened for the fasting month," he noted.
Md Touhidul Alam Khan, managing director and CEO of NRBC Bank, said the surge reflects both demand and market recovery.
"A 'base effect' also plays a role, as last year's imports were comparatively low due to earlier restrictions. Overall, higher imports are a result of recovery-driven demand, policy easing, and strategic stockpiling for the season," he explained.
A treasury head at a private bank confirmed that LC openings in September and October have largely been driven by Ramadan preparations.
"LCs for oil, sugar, dates, and other high-demand items linked to Ramdan have increased, with the bulk opened in September," he said.
Import of 6 items
Bangladesh Bank data shows that overall LCs worth $6.29 billion were opened in September and $5.64 billion in October.
For soybean oil, LCs for 494,865 tonnes were opened this year, compared to 361,564 tonnes during the same period last year.
LCs for 292,572 tonnes of sugar were opened in September–October, up from 264,446 tonnes last year.
Other staples have also seen substantial increases. LCs for pulses reached 50,355 tonnes, compared to 26,912 tonnes last year, while chickpea LCs rose to 54,516 tonnes from 42,891 tonnes.
Dates saw a jump to 10,165 tonnes from 3,063 tonnes, and split peas to 164,810 tonnes from 41,815 tonnes in the same period last year.
A senior official of a leading business group said the current surge is supported by the absence of a dollar shortage in banks.
"Unlike mid-2022, when dollar scarcity limited imports, today the situation is stable, and LCs can be opened without a 100% margin," he said.