Prices of most rice varieties found declining sharply in the city markets for the last two weeks while lowering of staple food prices is likely to be continued till further periods.
The price of medium and coarse variety rice has declined and the situation would continue for at least next two months due to the current Boro harvest which is likely to be continued till the middle of the next month.
While visiting the city's Kawran bazaar and Mohammadpur government krishi wholesale market found that the price of all sorts of medium and coarse variety rice has declined up to Tk 3, in per kilogram, compared to the price stood in last week, reports BSS.
The retail price of medium fine quality miniket rice is being sold at Tk 66 per kg, while it was sold at Tk 68 a week.
At the wholesale market, the price of a 50-kg sack miniket rice now is being sold at Tk 3,215, declined from Tk 287 from the earlier Tk 3,500, said Morshed Alam, a wholesaler of Mohammadpur govt krishi market.
"The rice price is declining with a range of Tk 100-150, per 50-kg sack, on an average. “The price fall situation is likely to continue for one and a half months,” said the whole seller.
Even the price of coarse variety “BR-28” is being sold at Tk 52 per kg, declining by Tk 3 from the earlier price of Tk 55 where selling price of per 50-kg sack stands at Tk 2500, decline from Tk 2730-2750, a week ago.
Talking about the present rice price situation, noted farm economist Dr Jahangir Alam said, “There is no chance of rice price hike in the next two months as the overall yield of Aman and Boro has crossed the optimum level.”
Dr Alam, however, continued that the rice price is likely to decline more in coming days as the Boro is contributing 54 per cent of the total rice output.
Even the rice price is getting lower as the new harvest floods the market which is ultimately resulting in the growers usually selling 60 per cent of their total harvest during this season, the economist added.
General Secretary of Rice Arotdar Samity Nirod Baran Saha said, “The lower rice price situation will not continue for a long period as the Boro yield in the haor area was, although good, but the other areas across the country was not up to the mark due to prolonged drought.”
Rejecting the estimate of the optimum Boro output, the Arodar Samity leader said the Boro production has been hampered 3 to 5 maund in a bigha in different areas except the haor region as haor area contributes only 13 per cent of the Boro output.
About Boro production, Director General (DG) of the Department of Agricultural Extension (DAE) Badal Chandra Biswas said, "We are expecting optimum Boro production this year against the production target of 2.22 crore tonnes set for FY24 as the result of overall yield was standard and there is no weakness."
Data released by the Bangladesh Bureau of Statistics (BBS) on the production of dry season crop Boro showed that the country bagged 2.07 crore tonnes of the staple grain during the Boro season in FY23, up 3 per cent from the previous fiscal year.
Total rice production grew 2.5 per cent year-on-year to 3.91 crore tonnes, the highest on record, in FY23.
