Home ›› 17 Feb 2023 ›› Front
With Ramadan over a month away, prices of essential products which remain in high demand during the holy month such as sugar, chickpeas, and fruits continue to go up. Prices of meat and egg have also increased.
Retailers are attributing the price hike of the products to their dwindling supply in the market.
Some retailers have ceased taking their supplies due to exorbitant prices, worsening the situation.
Such retailers said they had no option but to stop collecting the supply of some products as they cannot sell them at a price higher than the fixed rate.
The market scenario does not match the government’s assurance that there will be no shortage of Ramadan products and the supply will remain normal.
A visit to various kitchen markets in the capital, including Segunbagicha, Mohammadpur Krishi Market, and Mugda, reveals that the supply of sugar, one of the most essential items during Ramadan, is yet to be normalised, with prices having gone up by Tk 5 per kg compared to a week ago. Many shops are out of sugar, and many retailers are selling it at prices Tk 8-13 higher than the government-fixed rate.
From February 1, the government increased the retail price of refined unpacked sugar by Tk 5 per kg to Tk 107 and fixed the rate for refined packed sugar at Tk 112 per kg. On Thursday, refined white loose sugar was sold at Tk 115-120 per kg while brown sugar was sold at Tk 135 per kg in retail markets.
A retailer at Segunbagicha market, wishing to be unnamed, said though the government has fixed sugar price at Tk 107, its costs more than Tk 112 per kg for them to source. “If we sell it at higher prices, mobile courts fine us. So, many retailers have stopped selling sugar, and those who have some in stock are selling it at higher prices,” he said.
Prices of many commodities including gram have also increased in the retail market as the price has increased in the wholesale market, he added.
The price of chickpeas, one of the most demanded products in Ramadan, is also increased by Tk 5 per kg in the last week. Chickpeas sold at Tk 90-95 per kg at retail markets on Thursday, up from Tk 85-90 per kg one week ago.
Meat prices also increased by Tk 20-30 per kg and now reached Tk 700-750 per kg in retail markets, it was at Tk 680-720 per kg a couple of weeks ago.
The price of firm meat and egg also increased more. Broiler chicken is sold at Tk 220-230 per kg on Thursday. It was at Tk210-220 per kg one week ago and at Tk 180-200 per kg a couple of weeks ago.
Firm eggs sold at Tk 145-150 per dozen on Thursday, it was at Tk 140-145 per dozen last week.
Md Abdus Salam, a meat trader at Mugda kitchen market, said the price of cattle has increased due to a supply shortage and the butchers are not getting a fair price for cowhide. “So, the price of meat also increased for the increased processing cost,” he said and apprehended that the price of meat might increase more during Ramadan.
Among fruits, prices of dates and apples, which have increased demand during Ramadan, have already risen slightly.
A visit to Dhaka’s fruit market showed that the prices of foreign fruits including dates, apples and grapes have gone up by 10-80 per cent. Last week, apples were available at Tk 250-280 per kg, this week the price has increased to Tk 280-320 per kg.
Hafez Enayetullah, an importer at Moulvibazar, said, “There is a crisis in opening LCs for all types of imports including fruits. Although the government is repeatedly assuring to solve the problem, it still exists.”
“Besides, the LC margin has increased more than before. As a result, imports are disrupted. The price of some fruits has increased due to an increase in duty,” he added.
According to the data of Bangladesh Bank, LCs were opened for importing 5 lakh 66 thousand tones of sugar last January, which was 5 lakh 11 thousand 492 tonnes in January 2022.
Besides, LCs for importing chickpeas and onions have been opened more. In last January, LCs were opened for importing 29 thousand 481 tonnes of date. In January 2022, it was 16 thousand 498 tonnes.
In addition, LCs have been opened for importing 42 thousand 562 tonnes of onions, which has increased by 8 thousand tonnes that last year.
