Powdered milk prices up Tk25 per kg in Nov

Prices of powdered milk of different brands have shot up by Tk 25 per kg in November, putting further pressure on low-wage earners already struggling to cope with an inflated commodity market.

Traders blame a fall in supply in the last few months due to import crisis for the skyrocketing price hike of the essential item. 

However, as a sign of respite, prices of eggs and chicken have come down a bit in the last week, while the sugar market is yet to stabilise.

Over the last one year, prices of powdered milk have jumped 30 per cent in the capital, reaching a peak of Tk 900 per kg on Thursday, according to kitchen markets data.

Powdered milk of various brands including Ancor, Dano, Diploma, Nido, Redcow were selling for Tk 860-900 per kg on average on Thursday, compared to Tk 850-890 at the end of October. At the end of November 2021 the average price of powdered milk stood at Tk 670-758 per kg.

Mostafizur Rahman, a trader at Segunbagicha kitchen market said, “We are selling powdered milk at a higher price to customers as per announcements given by companies. 

“Prices of powdered milk of various brands have increased following a price surge in the international market.”

The price of Anchor brand powder milk sold at Tk 875 per kg on Thursday, up Tk 25 from the last week of October, while Nido and Diploma brands’ powdered milk sold at Tk 900 per kg yesterday.

Meanwhile, egg prices came down by Tk 20 per dozen at the city’s kitchen markets last week, according to traders and consumers. 

Firm eggs were being sold at Tk 120-130 per dozen on Thursday compared to Tk 140-150 a week ago.

Priced of firm chicken also came down by Tk 10-20 per kg, traders said.

A kg of broiler chicken cost Tk 160-170 on Thursday compared to Tk 180-185 per kg a week ago. Besides, sonali chicken cost Tk 300-320 per kg on the day, down Tk 10 from the previous week.

However, sugar prices are yet to follow the downward trend set by egg and chicken. The essential commodity was being sold at Tk 115-120 per kg, Tk 8-12 higher than the government fixed price, at the kitchen markets on Thursday.

Wholesale traders are blaming sugar refiners for the price increase.

Abul Kashem, a wholesale sugar seller in Karwan Bazar said, “Refiners are not supplying sugar as per market demand even with sales orders. Prices have gone up in the wholesale market as mill owners are not providing proper supplies.”

Drives by regulatory agencies have so far failed to ensure steady supply of sugar in the market.

In the meantime, prices of rice, lentils and edible oil did not come down from the peak level of the previous week.  But vegetable prices decreased by Tk 10 per kg.