Garlic jumps, oil falls

Garlic prices leaped in a week to Tk 170-180 per kg in the capital’s kitchen markets while that of edible oil declined on Friday.

Imported garlic prices increased by Tk 40-50 per kg while that of the local variety also rose by Tk 10-20, reaching Tk 90-100.

Last week, imported garlic was sold at Tk 130-140 while the local variety was priced between Tk 70 and Tk 80.

Two weeks back, local garlic was sold at Tk 45-50 and the imported one at Tk 120.

Md Abu Raihan, a retailer at the Karwan Bazar kitchen market, said he did not know why garlic prices increased so rapidly and massively. “We buy at higher prices and sell at Tk 2-5 more per kg.”

The market also saw panic buying. Md Abdullahel Kafi bought garlic, onion, pepper, ginger, potato, and some other items in large quantities.

He said dollar prices had increased and might rise more in the coming days, causing commodity prices to go up.

“I saw the news of food crisis worldwide. That is why I am buying essentials in large amounts,” added Kafi, who works for a private bank and draws a handsome salary.

Oil price down

Edible oil prices reduced more in a week, with non-bottled soybean oil sold at Tk 180 per litre, which was the price fixed by the government earlier this month. The non-bottled soybean oil price was Tk 204-208 per litre last week.

Palm oil prices also fell to Tk 165 per litre, which was Tk 180 last week. But traders feared prices would rise again any time as all companies did not reduce prices.

Md Mohiuddin, a trader at Karwan Bazar, said they were getting non-bottled oil from Chattogram, with a particular company reducing prices by Tk 6-7 per litre. “That is why prices have fallen, but this is not the case across the country. If we want to source oil from Dhaka, it will cost Tk 6-7 more per litre,” he said.

Per litre bottled mustard oil was sold at Tk 320 while the non-bottled version’s price was Tk 250.

There is still a scarcity of one- and two-litre soybean oil bottles in the market. KM Abul Bashar, proprietor of Khan Enterprise at Karwan Bazar, said no company was supplying one- or two-litre bottles.

He said only Pusti and Teer brands were available in the market and most of the products were five-litre bottles.

Beef prices fall

Beef prices dropped by Tk 50 per kg this week and was sold at Tk 650, which had been Tk 700 for two months. Mutton prices remained unchanged at Tk 950 per kg.

Prices of broiler chicken, another source of protein, were Tk 150-160 per kg, up Tk 5-10 compared to the previous week. Sonali chicken was sold at Tk 310 per kg.

Prices of egg, the cheapest protein source, remained high at Tk 120 a dozen, the same as last week.

Sayedul Haque, proprietor of Nur Jahan Chicken Broiler House, said chicken prices remained high only due to higher prices of poultry feed.

He said prices of all poultry feed ingredients, including maize and rice bran, had risen.

“There is no chance of chicken and egg prices going down until poultry feed prices fall,” he added.

Pulse, rice, prices unchanged

Lentil was sold at Tk 130 per kg, with prices increasing in Ramadan. Carrot and green papaya prices rose by Tk 10 per kg, reaching Tk 80 and Tk 60 respectively. Other vegetables were available between Tk 50 and Tk 60 per kg.

Miniket rice prices were between Tk 58 and Tk 64 per kg while BRRI-28 rice was sold at Tk 48-50, almost similar to the previous week.

Potato prices remained unchanged at Tk 20 per kg in the last couple of months. Onion prices remained stable at Tk 40-45 per kg and ginger at Tk 90 per kg.