Many of the victims are said to be in grave condition, with burns covering 60 to 90 percent of their bodies.
The source of the fire is unknown, however it is believed that chemicals were placed in some of the containers, according to reports.According to a regional government official, the depot had millions of dollars worth of clothing ready to be sent to Western stores. Bangladesh is a significant apparel supplier to the United States and Europe.
Hundreds of people had arrived to fight the fire when a number of containers burst at the location in Sitakunda, according to local reports. Among the dead and injured are a number of firefighters.
"I was thrown about 10 metres from where I was standing by the explosion. My hands and legs have been scorched "Tofael Ahmed, a lorry driver, told the AFP news agency.
The blast was so powerful that it could be heard from many kilometres away and destroyed windows in surrounding buildings.
Several hours after the detonation, the fire was still burning on Sunday morning.
To prevent chemicals from leaking into the water, the army has been sent.
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