5 essentials’ prices shoot up by Tk15 in a day

The commodity market in the capital is experiencing a roller coaster ride with prices of essentials going up by Tk15 in a day, leaving low-wage earners few options to survive.

Retail prices of five essential commodities including flour, soybean oil, palm oil lentils and firm chicken surged by Tk2-15 per kg or litre over a one-day-period on Tuesday, according to government agency data.

Traders said an ongoing supply crunch is to blame for the price hike.

Data from the Trading Corporation of Bangladesh (TCB) reveals that loose atta or wheat flour sold at Tk 60-62 per kg on Tuesday, up from Tk58-60 per kg on Monday.

Besides, prices of packet atta ranged between Tk 65-70 per kg on the day, up from Tk 60-66 per kg the day before.

In the meantime, some companies have fixed the price of a two-kg atta packet at Tk 144, up Tk 12 more than before.

TCB data also shows that the price of packet atta has increased by 63 per cent and the price of loose atta by 80 percent in a year.

Meanwhile, prices of soybean oil and palm oil increased by Tk 4 and Tk 5 per litre, respectively in a day.

According to TCB, a 5-litre bottle of soybean oil cost Tk 870-900 yesterday, up from Tk 850-880 on Monday, while loose palm oil sold at Tk 135-140 per litre on Tuesday, up from Tk 130-140 per litre the previous day.

Government fixed the price of 5-litre soybean oil bottles at Tk880 maximum on October 3. On top of that, edible oil refiners and marketing companies have recently submitted a proposal to the commerce ministry to increase oil prices by Tk 15 per litre. The proposal has not been approved yet.

Retail prices of fine lentils increased by more than Tk 5 per kg on Tuesday to Tk 135-140 per kg. Prices of farm chicken ranged between Tk 1655-180 per kg on the day, soaring from Tk 155-165 per kg the day before.