Essentials remain costly as price reduction efforts fail

Essentials in the capital have continued to remain costly despite numerous efforts from authorities to bring down commodity prices.

Sugar was being sold at Tk 7-12 higher per kg than the government fixed prices on Thursday at different kitchen markets in Dhaka, even as authorities continue to conduct raids.

Besides, prices of most varieties of rice have remained high even with the government introducing import facilities for traders and new rice from Aman produce hitting the market.

Prices of other essentials are yet to come down from the peak reached last week while flour has become even more costly. 

Selling in secret

The Directorate of National Consumer Rights Protection (DNCRP), responsible for hearing and addressing consumer complaints over goods and services, have been raiding kitchen markets in the capital to ensure fair prices for sugar.

But retailers said it is not possible for them to sell the commodity at the government fixed price of Tk 108 per kg as they are forced to buy it at much higher prices from wholesalers. So, they are selling it in secret, avoiding the eyes of authorities.

“DNCRP officials raided the market and ordered us to sell sugar at Tk108 per kg. Otherwise, we will be fined,” a trader at the Segunbagicha kitchen market told The Business Post (TBP), in condition of anonymity.

“How can we sell at a lower price, when we have to buy at a higher price from the wholesale market?” he said.

Traders at kitchen markets in Segunbagicha and Mohammadpur said they are now selling sugar secretly at a price of Tk 115-120 per kg as showing the purchase receipt results in no exemption from the fine.

They warned if this situation continues, the market will run out of sugar in the next Ramadan, when demands for the commodity grows dramatically.

Rice prices still out of reach

Rice prices were expected to come down this week, with new Aman produce hitting the market and the government extending import facilities to traders. 

However, traders said prices of most varieties of rice have remained high at last week’s peak. Only the price of paizam rice has dropped Tk 1 per kg to Tk 55-58 in some markets. The variety was sold at Tk 56-58 last week. 

Prices of parija, minicet, BR11, BR28 and nazirshile varieties remained unchanged from last week.

The National Board of Revenue (NBR) extended the scope for traders to import rice at reduced tariff by three months to March 31 next year to facilitate increased supply of the staple food and contain its prices in the local market on Thursday. The NBR made the announcement through a notification as the scope for importing rice at 15 per cent plus tariff was scheduled to expire on December 31 this year.

Flour prices increase, again

Prices of different types of flour have increased once more.

In a matter of a week, the second most important staple food of the country has become Tk 5 more costly per kg.

Packet atta or wheat flour sold at Tk 70-75 per kg on Thursday, up from Tk 65-73 per kg a week ago while loose atta sold at Tk 60-63 per kg.

Packet maida or refined flour sold at Tk 80-85 per kg on the day, up from 75-85 per kg last week. Prices of loose maida, however, remained unchanged at Tk70-75 per kg from last week.

Prices of other essential foods including lentils, edible oil, powdered milk, meat, egg and fish remained unchanged from last week’s peak.

Local lentils sold at Tk 140-150 per kg while imported lentils sold at Tk 110-115 per kg. Loose and bottled soybean oil sold at a range of Tk 180-190 per litre, while palm oil sold at Tk 145-155 per litre.

Meanwhile, firm eggs sold at Tk 40-42 per hali (4 pieces) and firm chicken cost Tk 160-170 per kg on the day.