Wholesale and retail prices of Ramadan staples, including chickpeas, lentils, moong dal, and sugar, have risen by Tk 5-10 per kg within the past week, just two and a half months before the holy month begins.
This has raised concerns about further price hikes closer to Ramadan. Traders attribute the early increase to anticipated Ramadan demand, with lentils, chickpeas and sugar used in various dishes.
However, the potential resumption of onion exports from India has led to a Tk 40-50 per kg decrease in the past week.
Year-on-year (YoY) comparison of Trading Corporation of Bangladesh (TCB) and kitchen market data show a 9-11 per cent surge in different pulse prices and about 26 per cent spike in sugar prices.
According to the commerce ministry, half of the total amount of chickpeas sold in the country in a year is sold in the month of Ramadan alone.
Currently, chickpeas are priced at Tk 100 per kg in major Dhaka markets like Segunbagicha, a Tk 5 increase from just a week ago. This represents an 11 per cent increase over last year's price which was Tk 90 per kg.
Lentil prices have also climbed, with coarse imported varieties rising from Tk 105 to Tk 115 per kg and fine-quality small-grain lentils now at Tk 140, up from Tk 130 per kg.
According to TCB data, at the beginning of January last year, coarse grain lentil was sold at Tk 105 per kg which indicates a 9.52 per cent rise.
Moong dal is being sold at Tk 150 per kg after a weekly hike from Tk 140. Compared to last year's price of Tk 135 per kg, this represents an 11 per cent rise.
Sugar is currently being sold at Tk 145 per kg in the city’s markets including Shantinagar compared to last week’s Tk 135. The current price reflects a 26 per cent YoY surge as the essential was being sold at Tk 115 per kg this time last year.
Meanwhile, although the price of potatoes is holding stable, the price of onion has decreased by Tk 40-50 per kg in the last week.
Retail prices of local onions have come down from Tk 130-140 per kg to Tk 80-90 per kg in various kitchen markets within a week.
However, onion prices have surged 120 per cent YoY, according to TCB Data.
Retailers attribute the onion price drop to potential increased domestic production and India's possible resumption of exports. They expect onion prices will remain stable even with Ramadan's increased demand.
