Commodity prices drop in first week of interim govt
In Dhaka’s kitchen markets, essential commodity prices have mostly decreased in the past week. While rice prices have risen, others like chicken, onions, and hilsa fish have dropped. Pulses, sugar, and edible oil remain stable. Market analysts suggest reducing production, supply, and import costs to sustain price reductions.
In the first seven days under the interim government, prices of essential commodities, including rice, pulses, edible oil, sugar, flour, milk, eggs, chicken, meat, potatoes, onions, and fish, have seen notable changes in Dhaka’s kitchen markets.
During this period, the prices of most essential items have decreased compared to the previous week, returning to the price levels seen before the recent anti-discrimination student movement.
In addition, prices of some essentials, including chicken, onions, and hilsa fish, have decreased slightly compared to pre-movement levels.
Despite this, the price of rice has risen once again over the past week while the prices of many products, such as pulses, sugar, and edible oil, have remained stable.
Retailers and traders explained that the previous increase in food prices was due to various factors, including supply shortages caused by curfews and blockades during the movement.
With supply levels now back to normal, prices for many products, including eggs, chicken, onions, and potatoes, have decreased. Additionally, the prices of certain items, such as hilsa fish, have dropped compared to pre-movement levels, due to the onset of the season.
Market analysts and traders have suggested that to further lower the prices of daily essentials, production and import costs need to be reduced.
Without such adjustments, producers may face losses if pressure is placed on them to lower prices in the wholesale or retail markets, which could also result in significant capital losses for many traders.
An analysis of market data from the Trading Corporation of Bangladesh (TCB) revealed that prices for five out of ten main [rice, pulses, edible oil, flour, liquid milk, eggs, fish, meat, chicken, and onions] essential commodities have decreased.
However, the price of rice has increased, while the prices of four other products have remained stable.
During the recent agitation, egg prices peaked at Tk 190 per dozen, but have returned to previous levels. On Thursday, a dozen eggs were sold at Tk 150-155 in retail markets across the capital.
Similarly, potato prices, which had risen to Tk 70-80 per kg, have now decreased to Tk 55-60 per kg.
Onion prices have dropped by Tk 10 per kg. Local onions were priced at Tk 110 per kg on Thursday, down from Tk 120 per kg three to four days ago. Additionally, the price of garlic was reduced by Tk 20 per kg and was sold at Tk 200-220 per kg.
After the movement, prices for chicken have fallen notably. Broiler chickens were sold at Tk 160-170 per kg on Thursday, down from Tk 180-190 per kg a month ago.
The price of hilsa fish in the retail markets has also decreased, with large-sized hilsa (over one kg) now priced at Tk 1,700-1,800 per kg, compared to Tk 1,900-2,200 per kg previously.
According to the data from TCB, fine rice is currently retailing at Tk 60-80 per kg in the kitchen markets on Thursday, up slightly from Tk 60-78 per kg a week ago.
Medium-quality rice is currently priced at Tk 55-60 per kg, up slightly from Tk 54-58 per kg a week ago. Coarse rice is being sold at Tk 52-55 per kg, down from Tk 54-55 per kg.
This week, the supply of edible oil in the kitchen markets has increased compared to last week. However, the price of bottled soybean oil remains stable at Tk 165-167 per litre.
Additionally, sugar is holding steady at Tk 130-135 per kg, flour at Tk 42-45 per kg, liquid milk at Tk 90-100 per litre, and lentils at Tk 120-140 per kg.
Md Yunus, a trader at Dhaka’s Maniknagar kitchen market, emphasised that to effectively reduce product prices, it is crucial to first lower production, supply, and import costs.
“Otherwise the price reduction programme will not work properly. Some days it may be sold at low prices, but it will rise again,” he said.
Source Link : https://businesspostbd.com/national/commodity-prices-drop-in-first-week-of-interim-govt
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