Amid a significant increase in demand for cut flowers in the local market, export earnings from this sector has sharply declined during the July to November period of the current fiscal (2019-20).
The export earnings for the period was only $0.01 million, which is a 99 per cent decline compared to the corresponding months of the last year.
According to a Dhaka Chamber of Commerce and Industry (DCCI) statistics, the local market of flower and cut foliage has reached Tk 1,200 crore per annum.
Due to the growing local demand, flower traders are showing less interest to export. Owing to the lack of a clear policy and support from the authorities concerned, the growers and exporters are losing interest in capturing foreign markets for cut flowers, said sources.
According to Export Promotion Bureau (EPB) data, the country earned only $0.01 million in the July to November of the current fiscal, which was $3.98 million in the same period last year.
The export earnings target from cut flower and foliage for the period was $3.17 million.