Sales yet to gain pace

Sales of essential commodities mostly consumed during the fasting month have not yet gathered pace in the capital city mainly due to price hikes with only seven days left for Ramadan.

Besides, the prices of other essentials have not come down in the city markets rather those of some commodities have increased this week. In such a situation, the consumers, especially low and middle income ones, have expressed worries over price hikes ahead of Ramadan.

Traders say buyers usually start flocking to the market two weeks before Ramadan, but this year is an exception. Though one week left for the fasting month, buy and sale of Ramadan items have not started yet, they added.

However, people were seen standing in long queues in front of TCB trucks in different parts of the capital city to buy products and save some money. Those who once did not go to these shops for a ‘sense of self-esteem’ are now waiting in queues to buy essentials at subsidised rates.

Visiting the various kitchen markets, including Segunbagicha and Rampura, it was seen that there was no crowd of buyers than usual. They were buying essential commodities just to meet their daily needs.

Mustafizur Rahman, a shopkeeper at Segunbagicha kitchen market said, before the Covid-19 pandemic when the prices of essentials were low, the market used to see crowd fifteen days before Ramadan. But after the Covid pandemic, the situation began to change this year due to a sharp increase in the prices of goods. “Buy and sale of Ramadan goods have not started even with a week left for the fasting month. All types of consumers were avoiding relatively less essential goods, and even buying less of essential goods,” he added.

The prices of sugar in the wholesale and retail markets are on the increase despite withdrawal of import duty on the sweetener to keep the sugar market stable ahead of Ramadan.

According to the data available with Trading Corporation of Bangladesh (TCB), the retail price of sugar increased by 2.17 per cent compared to a month ago and by 48.73 per cent compared to a year ago.

Traders, however, said that packaged sugar was not available in the market. In the retail market, sugar was sold at Tk 120 per kg.

On February 1, the government fixed the price of loose and packaged sugar at Tk 107 and Tk 112 per kg respectively.

Biswajit Saha, director of corporate and regulatory affairs of City Group, one of the largest sugar processing companies in Bangladesh said, “It will take more time to get the benefit of withdrawal of duty on sugar.”

The price of farm chicken went up by Tk10 to Tk 260 per kg this week. Chicken was being sold at 240-250 per kg one week ago. But it was being sold at Tk 250-260 per kg this week.

In addition, beef was being sold at Tk 800 per kg depending on the markets. However, in most markets, beef was sold between Tk 720 and Tk 750 per kg.

Abdur Rahman, a buyer at Rampura market, said the daily wage of a worker is Tk 700-800. “No low-income consumer can think of buying beef now. If he buys beef, then he cannot buy any other essential goods that day.”

Apart from this, the prices of fish, including rui, katla and silver carp, had increased by Tk 10-20 per kg.

But the prices of eggs, pulses, edible oil, chickpeas, rice and other essentials remained unchanged at previous high this week.

Farm chicken eggs were being sold in the market for Tk 130 per dozen.

Akhtar Hossain, an official of a private company, said for the first time, he came to buy goods from a TCB truck nearby Segunbagicha market at subsidised prices. “My salary has not kept pace with inflation. So, I have to stand in a long queue to buy products at low prices,” he added.

Golam Rahman, president of Consumers Association of Bangladesh (CAB) said, many laws have been formulated in the country to protect the interests of consumers and many institutions like Directorate of National Consumer Rights Protection (DNCRP), Bangladesh Food Safety Authority and Competition Commission have been set up to implement those laws. But these institutions are not yet as strong and effective as they need to be to protect the interests of consumers, he observed.