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Market cools slightly after sudden price hikes

Price of chickpea and sugar up by 20%
Rokon Uddin
01 Feb 2024 22:00:16 | Update: 01 Feb 2024 22:00:16
Market cools slightly after sudden price hikes
A shopkeeper waits for customers at his shop at Karwan Bazar kitchen market in Dhaka – Shamsul Haque Ripon

The prices of many essential commodities, including rice, potatoes and some vegetables, which had risen sharply at the beginning of last month, have cooled down slightly. However, the prices of some other products, including onions, have increased in the last week.

Sellers in the capital said the prices of some products are increasing as the season comes to an end, but due to various government campaigns, the prices of many products have started to decrease in the wholesale market.

A visit to different markets in Dhaka shows that the retail price of rice has decreased by Tk 2 – Tk 3 per kg within a week. Fine rice is being sold for Tk 62 – Tk 72 per kg, which was Tk 65 – Tk 72 per kg.

Medium quality rice is being sold for Tk 52 – Tk 56 per kg, which was Tk 54 – Tk 58 per kg. Besides, coarse rice is being sold at Tk 48 – Tk 50 per kg which was Tk 48 – Tk 52 per kg.

According to information collected from different markets, the price of rice suddenly increased by Tk 3 – Tk 6 per kg in the middle of last month. After this, the food ministry raided the source markets of rice and punished the illegal hoarders.

Apart from this, the price of edible oil has also decreased. Loose edible oil is selling for Tk 148 –Tk 152 per litre, up from Tk 150 – Tk 155 per litre.

The price of potatoes, which had increased at the beginning of last month, also decreased slightly. In the retail market, potatoes are selling at Tk 38 – Tk 45, which was Tk 40 – Tk 50 a kg last week.

Md Anwar, a vegetable seller in the capital's Shantinagar kitchen market, said, “The regular potato season has started. The potatoes that have come to the market so far were early varieties.

“There will be potato season for the next 45 days. At this time, there is no danger of potato prices going up.”

Although the price of potatoes has decreased, on the contrary, the price of onion has suddenly increased by Tk 10 per kg. Onions were sold at Tk 90 – Tk 110 per kg on Thursday according to quality, which was Tk 80 – Tk 90 per kg a week ago.

Onion wholesalers said that in the next 10-15 days, Hali varieties of onions will begin to fall. Then the price will come down again.

However, gram, dal, sugar and other products are being sold at higher prices than before. Sugar is selling at Tk140-150 per kg, lentils at Tk110-140 per kg and chickpeas at Tk100-110 per kg.

Trading Corporation of Bangladesh (TCB) data says that all types of pulses are being sold at 20 per cent – 34 per cent higher prices compared to last year. Besides, the price of chickpea has increased year-on-year by 20 per cent, it stood at Tk 85 – Tk 90 per kg last year.

Sugar prices increased by 19 per cent, it was at Tk 110 – Tk 120 per kg.

Visiting the various markets in the capital, the prices of vegetables have not decreased even in the full season. All types of vegetables, including beans, cauliflower and cabbage, are being sold at higher prices compared to last year.

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