In an already fiercely competitive worldwide market, the Bangladesh Inland Container Depots Association (BICDA) increased its fees for handling export products by 25%. This caused worry, particularly among RMG owners.
Following a meeting with the Bangladesh Freight Forwarders’ Association (BAFFA), the BICDA made the decision on Sunday, and the new tariffs will take effect on August 6.
Private inland container depots (ICDs) raised handling fees earlier on November 4 by 23% for both import and export products. With the most recent rise, handling fees for export items have grown by 48%.
Prior to November 2021, the handling cost for a twenty-foot equivalent unit (TEU) export container was approximately Tk3,920; it has now increased to Tk6,362, a jump of nearly Tk2,000. In response to the rise in fuel oil prices, BICDA increased the handling fee on imported items by 35% on August 11.
On August 17, handling fees for empty containers were raised by 24% in response to the rise in import fees. Charges consequently increased by a total of 58% during the course of two stages and nine months.
A 20-foot container of imported products used to cost Tk 9,754, but that amount has since increased due to the rise in oil prices to Tk 13,080. The price increases are concerning for exporters, particularly those working in the ready-made clothing industry. The decision will have a negative effect on production costs, according to Shahidullah Azim, acting president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
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