Potato and egg prices have finally come down after a week of imports. The retail price of imported onions also returned to the previous rate two weeks after a sudden and abnormal hike in the domestic market.
However, rice and sugar prices have gone up further this week, despite kitchen market analysts believing that the prices of these two products should have come down.
To reduce the price of sugar, the government had cut the import duty sharply to Tk 1.5 – Tk 3 per kg. Besides, since the new season of Aman rice has started, the price of rice should drop as well.
Imported onion was being sold at Tk 100 – Tk 110 per kg at the retail level in various kitchen markets across the capital on Thursday, it was at Tk 120 – Tk 130 per kg a week ago, and at Tk 140 – Tk 150 per kg two weeks ago.
However, local onion prices have not decreased, and are being sold at Tk 140 – Tk 150 per kg.
Potatoes are being sold at Tk 50 – Tk 55 per kg, compared to Tk 60 – Tk 70 per kg a week ago. According to the Ministry of Agriculture (MoA), potato imports began on November 2.
Eggs are being sold at Tk 48 – Tk 52 per hali (4 pieces), compared to Tk 52 – Tk 55 per hali one week ago. Commerce ministry sources say egg imports started on November 5.
Md Yousuf, a retailer in the city’s Maniknagar area, said, “In the wholesale market, the price of imported onions has decreased slightly due to increased supply, and the kitchen essential is being sold for Tk 92 – Tk 95 per kg.
“We are selling onions for Tk 100 – Tk 105 per kg, keeping our profits small to increase sales.”
He then said, "Local onion prices however remain unchanged in the wholesale and retail markets. It has been a week since potato imports started, besides, early potato harvest has started in some districts of the country. So the price of potatoes also decreased.”
“The price of edible oil and chicken also decreased slightly. Apart from eggs and potatoes, the prices of oil, chicken and almost all vegetables have fallen this week. Moreover, the supply of vegetables is increasing ahead of the winter season, so the prices have come down a bit.”
Bottled soybean oil is being sold at Tk 165 – Tk 170 per litre, compared to Tk 168 – Tk 170 per litre a week ago. Farm chicken is being sold at Tk 180 – Tk 190 per kg, compared to Tk 190 – TK 200 per kg recorded last week.
The import tariff on raw and refined sugar was halved by the National Board of Revenue (NBR) on November 2 in an attempt to rein in domestic market prices.
Importers will now have to pay Tk 1,500 as specific duty on the import of each tonne (1000 kg) of raw sugar, down from Tk 3,000 earlier, read a NBR notification.
However, although the duty of sugar import decreased by Tk 1.5 – Tk 3 per kg, the price of sugar increased further by Tk 10 – Tk 15 per kg. Sugar is being sold at Tk 140 – Tk 150 per kg, up from Tk 130 – Tk 135 per kg recorded a week ago.
Apart from this, the prices of all varieties of rice have increased by Tk 1 – Tk 3 per kg in the last one week.
