Against the backdrop of coronavirus pandemic and floods, the prices of rice have been skyrocketing. In the economic crisis caused by the coronavirus, the increase in the prices of rice is adding to the sufferings of the lower and middle class.
It is learned that in the last 20 days, the prices of all types of rice have increased by 2-3 taka per kg at different wholesale and retail levels in the capital. The price of coarse rice has gone up more. The millers claim that the prices of rice are also going up due to the increase in the prices of paddy.
Mizanur Rashid, a wholesale rice seller at Mohammadpur Agricultural Market, told The Business Post that the price of rice has started rising since the beginning of this month. The prices of almost all types of rice have gone up. In these few days, value of a 50-kg bag has marked up by at least 150 taka. Compared to this time last year, the price of rice has gone up by at least 300 taka per bag.
But Faisal Ahmed, a wholesale rice trader in Babu Bazar, said differently. He claimed that the price of rice in the wholesale market has not increased. Retailers have hiked prices as the demand for coarse rice has suddenly increased in the market. However, the price of fine rice is the same.
Mashiur Rahman, another rice trader, said the paddy yield has been very good this year. As a result, the price of rice is not going to rise. Even then the government has given the opportunity to import, but so far no imported rice has hit the market. At present, Miniket rice is being sold at 2,500-2,600 taka per bag (50 kg), Nazirshail rice at 2,550-2,600 taka, Paijam and Cuttery at 2,300 taka and Atash at 2,150-2,200 taka, he said.
Saiful Islam, a rice retailer in Karwanbazar, said the price of rice is increasing every week. There is no stability in the market. In keeping with the current market price, he is selling Swarna rice at 48 taka per kg, BR Atash at 52 taka and Miniket at 61 taka.
Meanwhile, according to the Trading Corporation of Bangladesh (TCB), fine rice like Nazirshail and Miniket was sold at 55-64 taka per kg last Saturday, up from 50-62 taka a week ago. At the same time last year, these rice was sold at 47-56 taka, which means that the price of rice has increased by 15 percent this year.
Swarna, known as a coarse rice, are being sold at 44-48 taka per kg, up from 40-45 taka a week ago. And medium quality rice (Paijam and Lata) is being sold at 48-54 taka per kg, which was 44-50 a week ago. These rice are being sold at eight percent more than the same period last year.
However, the price of aromatic rice has come down significantly during the crisis. Scented rice per bag (50 kg) is being sold at 3,300-3,800 taka. Traders said the price of fragrant rice has fallen in the last few months due to the coronavirus, which has led to the closure of hotels and restaurants and the closure of various events, including weddings.
Rafiqul Islam, president of the Naogaon District Rice Mills Association, told The Business Post that the price of rice started rising in late July due to the rise in the price of paddy. When the government facilitated the import of rice, the price remained stable for some time. But so far no one has been reported to have imported rice. That is because the prices of rice and paddy have started rising again over the last two weeks.
Kawsar Alam Khan, vice-president of the Bangladesh Rice Traders Association, told The Business Post that the price of rice depends on the price of paddy. Before Eid, the price of paddy has suddenly gone up. As a result, the rice millers have increased the price of rice. Moreover, transportation costs have also increased due to rains and floods. So the price of rice in the market has gone up a bit. However, if the imported rice hits the market, the price will go down again, he said.
sr/wi
