Lentil prices up 20% despite ample stock

The prices of lentils have been by 20 per cent within a month despite sufficient stock in the local market. 

Bangladesh Dal Babsaye Sammittee data show that the prices witnessed a 15 to 20 per cent increase at the wholesale level. Imported Moshur lentils, which cost Tk 70 per kg, is now selling for Tk 91, while anchor lentils now cost Tk 47, up from Tk 34.

Mahbub Alam, a trader, said prices of all pulses increased in the market but lentil prices have increased massively by Tk 20-25 per kg.

“Currently, imported lentils now cost Tk 90 but the millers said the global crisis would push the prices to Tk 100 soon,” he said. 

The prices of locally-produced lentils have also increased at the wholesale and retail levels. The variety sold for Tk 88 a month ago at the wholesale market but now costs Tk 105, according to Babsaye Sammittee data.

Bangladesh’s annual demand for pulses is 26-27 lakh tonnes. The Department of Agricultural Extension said the country produced 9.31 lakh tonnes of pulses in FY20-21 against a target of 10.98 lakh tonnes.

Md Shafiqul Islam, general secretary of the Babsaye Sammittee, said that the Moshur lentils are consumed by 75 per cent of people in the country. “Low production and Canadian export ban pushed up its prices. But there is no excuse for increasing prices of locally-produced lentils,” he said. 

“Unscrpulous trades have hiked the price intentionally although there is adequate stock in the country,” Islam added. At several retail markets in Dhaka, the locally-produced lentils sold for Tk 120-135 a per kg. 

Md Abdul Momin, the proprietor of Bismillah Store at Tajgaon, said the hike was unexpected. “Prices of imported lentils went up from Tk 60 to Tk 100 while the locally-produced lentil now costs Tk 135, up from Tk 100,” he said.

Traders said the prices would take time to decline since the local variety would hit the market in two months.

“The price may go up further,” said Shahid Alam, proprietor of M/S Eyakub Ali and Sons. 

Consumers have demanded intensifying market monitoring to protect the general people’s interest. Rafik Mahmood, a private job holder in Dhaka, said the prices of every commodity and the living cost were going up. 

“Our income is not increasing. How will we cope with the situation? The prices of essential items must be kept within the purchasing power of the general people,” he said.