With Eid-ul-Azha around the corner, the prices of spices have gone down slightly in the retail markets but remain high in the wholesale markets of the port city.
According to traders, the spice market usually heats up before Eid. Like previous years, the prices were increased by the importers in the wholesale and retail markets this year too.
Several spices were selling at higher prices than import prices in the wholesale markets in the last couple of weeks in Chattogram.
During visit to Chawkbazar, the largest retail market of Chattogram city, and Khatunganj, the country’s largest wholesale market for consumer goods, this correspondent found on Saturday that the prices of spices have slightly decreased in the retail market but it remains unchanged in the wholesale market.
Traders in Chawkbazar said the prices of almost all spices have gone down slightly in the last 8-10 days.
Mohidul Alam Chowdhury, the proprietor of M/S Chowdhury Traders at the market, told The Business Post, “The prices of almost all kinds of spices have dropped compared to the previous week.”
According to him, cumin was selling for Tk 1,000 per kg on Saturday, which was Tk 1,200 last week, and cardamom was selling for Tk 1,800 per kg, which was Tk 2,500 in the previous weeks.
Apart from this, black pepper is selling for Tk 900 per kg, which was Tk 1,200 last week, mace is selling for Tk 2,800 per kg which was Tk 3,000 last week, nutmeg is selling for Tk 700 per kg which was Tk 800 last week, and dry chilli is selling for Tk 130 per kg, which was Tk 160 last week.
However, the prices of cinnamon and turmeric remain unchanged as the spices are being sold for Tk 550 and Tk 150 per kg respectively. The price of dry coriander has increased by Tk 90 to Tk 220 per kg compared to last week which was Tk 130.
At the same time, prices of onion and ginger at retail level have decreased slightly, but prices of garlic have increased. Onion prices have gone down by Tk 10 per kg and are being sold for Tk 40. Garlic was sold for Tk 160, and ginger for Tk 280 which were Tk 140 and Tk 320 per kg last week.
In the wholesale markets of Khatunganj, and Asadganj, the prices of many spices have increased abnormally for the past few months. In particular, the price of cumin has increased sharply.
According to the wholesalers, cumin is currently selling for Tk 820 per kg in the wholesale market, which was Tk 770-780 last week. The import price of the product is significantly lower.
However, cloves are being sold for Tk 1,420-1,430 per kg in Khatunganj. But the spice has been imported from India, Sri Lanka and Indonesia for only Tk 185-666, including duty.
