The price of green chilli has soared to a record high of Tk 600 per kg in Dhaka city as both wholesalers and retailers hiked its price amid the growing demand following supply shortage, low production and import suspension due to Eid-ul-Azha holidays.
On Saturday, green chilli was being sold at Tk 600 per kg in the capital’s kitchen markets. The chilli price was also hovering between Tk 700 and Tk 800 per kg in different districts across the country.
In Sylhet, green chilli was reportedly being sold at Tk 1,000 per kg while its price went up to Tk 1,200 per kg in Khulna.
Chilli, a staple ingredient for cooking, was selling for Tk 200-250 per kg in the week before Eid holidays.
The retailers claimed that the supply of pepper has decreased due to rain and transport crisis due to Eid journey. So, the price is increasing steeply, they added.
Anwar, a vegetable seller of Dhaka’s Mugda Bazar, blamed a syndicate of traders in the wholesale markets, including Karwan Bazar and Shyambazar, for unusual price hike.
“They are hoarding green chilli and creating an artificial crisis to sell it at higher price. If the price remains high in the wholesale market, we also have to sell it at higher price,” he said.
Lutfar Rahman, a vegetable seller at Mohammadpur Town Hall kitchen market said, “I bought green chilli at Tk 2,500 per five kg from the wholesale market. If I sell it for less than Tk 600, I will incur a loss.”
The yield of green chilli has been low this year due to various reasons, including insufficient rains during the plantation season and flooding in low-lying areas before harvest.
Due to this, the supply of this vegetable has decreased before Eid. Although the government has approved the import to meet the demand due to ports being closed during the holidays, it has yet to begin.
Wholesale and retail traders have taken advantage of the shortage of supply in the domestic market, import suspension and increased demand to raise the price.
Visiting different wholesale and retail markets of Dhaka, this correspondent found that the price of green chilli has been increasing since the beginning of last week.
On June 23, the price was around Tk 250. However, it increased to Tk 300-350 the next day in retail markets. By Monday, it soared to Tk 400 per kg.
On June 25, the Ministry of Agriculture approved import permits (IP) for chilli and tomato due to the sudden price rise.
Against 30 IPs, the import of 1,160 tonnes of green chilli was approved. Besides, the import of 55,600 tonnes of tomato was approved against 68 IPs.
Despite the IPs, import and export remain suspended for four-six days at almost all land ports, including Hili, Bhomra, and Burimari due to the Eid holidays.
Mohammad Khaled Khan, a green chilli trader in Rajabazar, Bogura, told The Business Post, “Besides imports from India, we get green chilli from Kushtia and Panchagarh. But the supply has been low. The prices may increase further if supply drops.”
Department of Agricultural Extension, Bogura district Additional Director Sarkar Safiuddin Ahmed said the yield of green chilli was low this year due to the low-lying areas by the banks of Jamuna River getting submerged.
“During this time of the year, the yield of green chilli is naturally low. Due to this, the supply is low. The traders probably raised the prices since the demand is high,” he added.
