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The settlement of letters of credit (LCs) for key commodities, including sugar, soybean oil, lentils, and chickpeas, increased significantly in the last four months ahead of the holy month of Ramadan, according to the latest data from Bangladesh Bank (BB).
The data shows that LC settlements for these essential goods registered double-digit growth, a surge attributed to rising demand ahead of Ramadan, inflationary pressure, and changes in global supply chains, BSS reports.
According to the central bank report, sugar imports rose by 20 per cent, reaching 454,034 tonnes between October 2024 and January 2025, compared to 378,265 tonnes in the same period between October 2023 and January 2024.
Soybean oil imports saw a 35 per cent increase, with 598,252 tonnes imported this year compared to 447,820 tonnes a year ago.
The most significant increase, however, was in lentil imports, which surged by 86 per cent to 157,837 tonnes, up from 109,378 tonnes in the previous year.
Similarly, chickpea and gram imports rose by 85 per cent and 64 per cent, respectively, indicating strong demand for pulses.