Stocks continue rising trend after eid holidays
Stocks in Bangladesh rose on the first day after eid holidays today and maintained its upward trend for the seventh consecutive sessions. The DSEX, the benchmark index of the premier bourse in Bangladesh, up 23 points, or 0.37 per cent, to close the day at 6,252.The DS30, the blue-chip index, increased 0.46 per cent to 2,213 and the DSES, the shariah-compliant index, increased 0.46 per cent to 1,354. Of the traded securities, 87 advanced, 38 declined and 202 did not show any price movement.Heidelberg Cement increased mostly by increasing 9.99 per cent followed by Stylecraft that 9.94 per cent, Khan Brothers PP Woven Bag 9.84 per cent and National Feed Mills 9.34 per cent.The stocks on the Chattogram Stock Exchange also rose today. The Caspi, the all-share price index of the bourse in the port city, up 62 points to close at 18,416. Of the issues, 55 rose, 19 retreated and 60 did not see any price movement. Turnover at the Chattogram bourse fell 48 per cent from the last trading session to hit Tk 4 crore.
Agriculture exports fall short of target
In the last nine months, only $687 million worth of agricultural products were exported, which is 28% less than the corresponding period last year, and also one-third of the $1 billion target, according to the Export Promotion Bureau (EPB) statistics.Agro-product exporters said a big portion of the export basket was aromatic rice. To control volatility in the local rice market, the commerce ministry banned the export of aromatic rice in July last on the Ministry of Food’s recommendation.According to the EPB, the export value of agro-products – including aromatic rice, vegetables, spices, dry food, and tobacco – in the first nine months (July-March) of the last financial year was $958 million. The export of these goods fell to $687 million in the same period of the current fiscal, shrinking by 28.31%.Apart from this, around 30% of the agro-product exported was rice which has witnessed a 45.58% decline up until now this year. Export value under this category has fallen to $304 million, although it was $559.49 million during the same period of the last financial year.
Apparel exports to Japan cross billion-dollar mark
Bangladesh’s ready-made garment (RMG) exports to Japan sustained a robust growth of over 43 per cent to cross the billion-dollar mark during the first nine months of the current fiscal year (FY). Shipments to the destination country witnessed a decline for two consecutive fiscal years beginning 2019-20 and bounced back in the last fiscal. Bangladesh exported apparel items worth $1.22 billion to Japan marking a 43.79per cent growth during July-March period in the ongoing FY23, according to data of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA). The earnings were US$849.64 million during the corresponding period of last fiscal. Bangladesh fetched $944.82 million in FY 2020-21. RMG exports to Japan first crossed the billion-dollar mark with $1.091-billion earnings in FY19. Apparel exports, including knit and woven items, to Japan were $478.48 million in FY 2012-13 which was only $74.33 million in FY 2008-09.