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Beef prices in kitchen markets across Dhaka have gone up further, hitting Tk 650 per kg from Tk 620 in a matter of just one week. Not only beef, but prices of essentials such as chicken, edible oil, onion, and potato have increased as well.
Md Rafikul, proprietor of Hazi Gosto Bitan at the Hazrat Shah Ali kitchen market in Mirpur-1 area, said, “We are now selling beef for Tk 650 per kg, an increase by Tk 30 per kg compared to the last week. The prices are increasing every week.”
The mutton prices however remain stable, selling for Tk 1,000 – Tk 950 per kg in different markets throughout the city.
Bangladesh Meat Merchants Association’s Secretary General Rabiul Islam said, “The authorities concerned should boost monitoring activities in the market. Otherwise, it will not be possible to reduce the prices of beef and mutton.
“Beef prices stood at Tk 350 in 2016, which have now almost doubled.”
According to the Department of Livestock Services (DLS), the annual meat consumption demand in Bangladesh is 7.3 million tonnes, against which the country is producing 7.6 million tonnes.
On Friday, broiler chicken was being sold for Tk 150 to Tk 160 per kg, up from Tk 140 to Tk 145 last week. The price of loose soybean oil also rose by Tk 5 per litre to Tk 165 within a week.
Abu Bakar Mollah, owner of Bismillah Traders, said, “The price of loose soybean oil is rising every day. There are no differences between bottled soybean oil and loose soybean oil in terms of price.”
Currently, 5-litre Teer soybean oil is being sold for Tk 730, 5-litre Rupchanda Soybean Oil is being sold for Tk 770 and 5-litre Bashundhara Soybean Oil cost at Tk 730 in different kitchen markets in the city.
Fortune 5-litre Soybean Oil is being sold at Tk 820 and 5-litre King’s Sunflower Oil at Tk 1,100.
On February 6, the government increased the retail price of bottled soybean oil by Tk 8 per litre to Tk 168. The National Price Monitoring and Fixing Committee under the Bangladesh Trade and Tariff Commission fixed the rate after a meeting.
As per the decision, the price of a five-litre bottle of soybean oil was set at Tk 795. The price of loose soybean oil has been raised by Tk 7 per litre to Tk 143, while the price of palm oil has been increased to Tk 133 a litre.
Potato prices also increased despite the adequate availability and supply of the tuber in kitchen markets. Potatoes are being sold for Tk 20 compared to Tk 16 to 18 in the last week.
It should be noted that Bangladesh produced 10.9 million tonnes of potato in 2021, and of them, around 2 million became surplus.
Moreover, onion prices have also gone up compared to last week, from Tk 30 to Tk 35 per kg to Tk 40. Traders said imported onions – especially the Indian variety – are not available in the market, which can be a reason for the price hike in local markets.
Bangladesh imported 4.93 lakh tonnes of onion worth Tk 1,375 crore in the fiscal year 2020-21, when the country produced 33.62 lakh tonnes. According to Bangladesh Trade and Tariff Commission, the annual domestic demand for onion is around 24 lakh tonnes.
