Rice prices go up again

Price of parboiled rice has increased again both at wholesale and retail markets after a respite for a few days.

Over the past three to four days the price has gone up by Tk1.5-Tk2 a kg. Apart from the parboiled rice, the price of fine rice has also increased by Tk4-Tk-6 a kg.

As the supply is less than the demand and again the import cost has soared resulting in rise in the price at wholesale markets pushing the price to go up at retail markets too.

This correspondent found Miniket rice selling at Tk67-Tk72 at different kitchen markets including Segunbagicha, Rampura and Maniknagar in the capital on Friday. The price was in between Tk65 and Tk70 only three to four days back.

Paijam rice was selling at Tk54-Tk56 while it was Tk52-Tk55 a kg three to four days ago. BR-28 rice that was sold at Tk53-Tk56 a kg was selling at Tk54-Tk58 a kg on Friday.

Md Mohsin, the proprietor of Cumilla Rice Agency of the Rampura Kitchen Market of the capital, said the price of rice had dropped a bit after the tax on import had been cut. But the price has again gone up over the last four to five days.

“A sack (50 kg) of Paijam rice that we bought for Tk2,600 is now selling for Tk2,680 while the price of a sack of Miniket variety has increased to Tk3,500,” he said.

The price of a sack of BR-28 rice has also increased by over Tk50.

Alamgir, the owner of M/S Mariam Store of Maniknagar Kitchen Market, also echoed him saying that he could sell rice bought earlier at lower price but he had to sell newly bought rice by

Tk1 or Tk2 more as the price of a sack of rice at wholesale markets have jumped up by Tk100.

On 28 August, the import tax on rice was brought down to 15.5 percent from that of 25.50 percent. The decision was taken as the price of rice had been on the rise by leaps and bounds.

At the same time a decision to import 10 lakh tonnes of rice by the government was almost finalized.

Altogether both the government and traders expected a huge import of rice and it brought the price down. Prices of some varieties of rice have even gone down by Tk5-Tk6 a kg. But as the rate of dollar hasn’t dropped and the countries of import have continued hiking the price it has stood in the way of rice import.

Again heavy rainfall in the country for several days has obstructed the supply chain hiking the price of rice.

Meanwhile, the price of fine rice is also rising again. Towards the end of last July the price of fine rice went up to Tk130 a kg at retail markets.

Rice trader said price of all kinds of fine rice had gone up again. Over the last two to three days the price of a sack of fine rice has increased by up to Tk300 at the rice mokams (large wholesale market).

Even three days ago a sack of Zohara Chinigura brand rice was sold for Tk6030-Tk6040 at the country’s mokams. It is now selling at Tk6300 meaning that a kg of rice at the mokams is selling at Tk126. Naturally this brand rice will be sold at over Tk135 at retail markets.

Those who are selling it at Tk125-Tk130 bought the rice earlier, said the traders. After the arrival of new rice they will also sell them at higher prices.

Fine rice is basically made out of Aman Paddy which will be available at markets after two months. The storage of the rice from the previous season is almost out of stock.

Besides, the corporate houses have been involved at the market of fine rice widely. They are selling rice after packaging to their dealers. It has also pushed the price up.