PHOTO: STAR/FILE

STAR BUSINESS REPORT

The Bangladesh Small and Cottage Industries Corporation (BSCIC) has called for stricter monitoring to ensure the proper utilisation of imported industrial salt in order to protect the interests of local salt producers.

The import has increased as the price of imported industrial salt is lower than that of locally produced salt, according to the corporation.

As a result, many industries are shifting from locally produced to imported salt, leading to locally produced salt remaining unsold and significant financial losses for local farmers, it said.

Moreover, the availability of bonded warehouse facilities for importing salt has contributed to a lower price, making it more attractive compared to locally produced salt, it said.

In this regard, the BSCIC, under the industries ministry, has recently requested the National Board of Revenue (NBR) to increase monitoring of salt imported under bonded warehouse facilities.

According to the BSCIC, which is responsible for overseeing the salt industry, domestic salt production reached a record 24.37 lakh tonnes in fiscal year 2023-24. This marks the highest production level in the past 63 years.

After meeting the national demand for edible salt, a significant portion of domestically produced salt is utilised across various industries, including detergent, glass, textiles, leather, cosmetics, pharmaceuticals, ice plants, and hatcheries, said the BSCIC.

However, the importers are bringing in salt from abroad, which is discouraging local farmers from continuing production due to the fall in prices.

“The lack of fair pricing has discouraged farmers from continuing production,” said Md Saiful Islam, chairman of the BSCIC.

“To address this, the NBR should tighten monitoring of imported salt under bonded warehouse facilities to discourage imports and safeguard the domestic salt industry,” he added.