Home ›› 19 May 2023 ›› Front
Harvesting of different boro paddies began in early May, and the prices of various varieties of rice including zirashail, miniket, and BR28 decreased at the wholesale level, but the general consumers are still struggling to buy rice as the price is still high in the retail market.
The retail price of rice has not decreased compared to the price before the start of the boro season. The retail price of rice at present is 8-14 per cent higher compared to the same period of the last year.
According to the wholesalers, the production of rice is satisfactory this year. As a result, the price in rice mills has come down and due to this, the wholesale price has also decreased up to 15 per cent compared to a month ago.
Meanwhile, people from the low-income group, especially the daily earners, are failing to make ends meet as they now have to spend most of their income to buy rice.
Experts and consumers have demanded strengthened monitoring of the rice market to decrease the price of rice.
The retailers, however, claim that they are yet to buy rice at reduced prices. Due to the low sales of rice, many retailers are selling stored rice and they will continue selling rice at higher prices until they buy rice from newly harvested paddies.
Visiting various wholesale markets in the capital including Babubazar, Karwanbazar, and Mohammadpur Krishi Market, it was found that the price of miniket rice, one of the main varieties of the boro season, has decreased by Tk 6-9 per kilogramme while the price of BR28 and 29, another two varieties of this season, decreased by Tk6-7 per kg.
The prices of some coarse varieties of rice have come down by Tk 3-5 per kg in wholesale markets during the last 20 days. And the price of aromatic rice has decreased by Tk 4 per kg.
At the wholesale markets, miniket rice was sold at Tk 61-64 per kg on Tuesday which was Tk 70-72 per kg 20 days to one month ago. Different varieties of medium rice including BR28 and 29 were sold at Tk 47-51 per kg, which was Tk 51-58 per kg before the beginning of the season. Non-brand coarse rice was sold at Tk 40-42 per kg, which was at Tk 45 per kg earlier.
Kawsar Azam Babu, vice-president of Babu Bazar Rice Traders Association, said miniket, BR28, and some coarse varieties of rice are mainly supplied during boro season. As the prices of almost all the daily commodities have increased, the number of buyers in the rice market has decreased largely.
Besides, the supply of rice in the market has increased due to the arrival of the new season. It has reduced the price by Tk 3-9 per kg based on the variety.
Despite the decrease in wholesale rice prices, there is still no impact on the retail markets. The price of fine rice is Tk 65-74 per kg in the local retail markets and it has remained almost the same in the last four months.
Different varieties of medium rice were sold for Tk 56-60 per kg in retail markets including Segunbagicha and Maniknagar kitchen markets. Different varieties of coarse rice including swarna are selling for Tk 48-50 per kg during the last few months. The loose aromatic rice is being sold at Tk 135-140 per kg.
The Trading Corporation of Bangladesh (TCB) data also showed that the retail price of fine rice has remained unchanged. However, the prices of medium and coarse varieties of rice decreased by Tk 1-2 per kg within more than one month.
Md Sayet, a rice trader at Maniknagar kitchen market said, “We sell the rice making a very small profit. We still cannot buy rice at a low price. So, we have to sell at a higher price.”
Md Lokman Hossain, a rice trader and general secretary of Karwanbazar Kitchen Market Association, said, “Since the start of boro season, we have been able to buy rice from the mills at a reduced price. So, we are selling at lower prices. But many traders still have not finished selling the previous stock of rice. So, they cannot sell rice at the new price. The price of rice may come down in the retail market next week.”
The prices at which rice is being sold in the retail markets are 8-14 per cent higher than last year. At a Maniknagar kitchen market, miniket rice was sold at Tk 65-70 per kg on Thursday, it was at Tk 58-62 per kg during the same week of last year. BR28 was sold at Tk 55-56 per kg, which was Tk 48-50 per kg last year. Swarna rice was sold at Tk 48-50 per kg, it was at Tk 42-44 per kg and paizam was sold at Tk 52-53 per kg, which was Tk 46-48 per kg last year. Lose chinigura, a variety of aromatic rice, is being sold at Tk 130-135 per kg which was Tk 90-110 per kg a year ago.
According to TCB data, the price of rice has increased by 4-6 per cent compared to last year. Among all the varieties, the price of fine rice has increased the most.
Md Abdullah, a consumer of Maniknagar rice market, said, “Most of my income is spent on house rent and other expenses, very little is left for food. Even in such a situation, the prices of all kinds of daily essentials are increasing. I hoped that the price of rice would come down during the season, which would give some relief to low-income people like us. But unfortunately, the price is not decreasing.”
“The government should increase monitoring in the market, looking into why the price is not decreasing even after the arrival of new rice,” he added.
