Rice prices surge in Bangladesh’s kitchen markets
In Dhaka, rice prices have surged over the past week, with a 50-kg sack of rice increasing by Tk 50 to Tk 150. Traders attribute the rise to higher paddy prices and reduced supply from mills. Varieties like BR-28 and BR-29 have seen the sharpest hikes, reaching Tk 3,000 to Tk 3,100 per sack. Retailers and consumers are feeling the pinch, as prices for daily essentials continue to rise, further straining low-income families. Traders hope prices may stabilize after the November harvest.
DHAKA – Prices of nearly all varieties of rice have surged in the capital’s kitchen markets over the past week, with traders attributing the hike to a rise in paddy prices and reduced supply from rice mills.
Traders said rice prices have increased by Tk 50 to Tk 150 per 50-kg sack.
However, visiting four major rice wholesale markets in the capital — Karwan Bazar, Kachukhet, Mirpur-11, and Mohammadpur Krishi Market — this correspondent saw a substantial stock of rice.
Retailers are blaming the increase on rising wholesale prices, while wholesalers claim it has risen at the mill level.
“The BR-28 and BR-29 varieties of rice have seen the sharpest price hike in the past week, with prices increasing by around Tk 100 to 150 per 50-kg sack,” said Raju Ahmed, a staff member at M/S Anis Enterprise in Mohammadpur Krishi Market, yesterday afternoon.
“Today (Tuesday), we are selling a 50-kg sack of BR-28 and BR-29 varieties at Tk 3,000 to Tk 3,100, compared to Tk 2,850 to Tk 2,950 one week ago,” he added.
Shahidul Islam, manager of M/S Anu Enterprise at the same market, said demand for these two types of rice is gradually increasing as middle-class families prefer them. However, the stock of these varieties is currently limited, which has contributed to the price surge.
Both traders expressed hope that the price of BR-28 and BR-29 varieties may drop by the end of November, following the harvest of new paddies.
Kamal Hossain, proprietor of Mokbul Rice Agency in Mirpur-11, said the wholesale price of coarse rice has risen to Tk 2,480 to Tk 2,520 per 50-kg sack, up from Tk 2,350 to Tk 2,400.
“Mill owners claim they lack sufficient stock, but in reality, they have enough. They use the excuse of a stock shortage to overcharge,” he said.
Meanwhile, prices for Miniket and Nazirshail varieties of rice have also increased by Tk 50, depending on quality. Traders are now selling Miniket rice for Tk 3,250 to Tk 3,750 per sack and Nazirshail for Tk 3,300 to Tk 3,800.
Consumers are feeling the pinch, with retail rice prices rising by Tk 1 to Tk 3 per kg over the past week.
“I bought BR-28 rice at Tk 62 per kg four days ago, but today (Tuesday) the shop owner is asking for Tk 65 per kg for the same rice,” said Fatema Begum, a resident of Aziz Mohalla, Mohammadpur, while shopping at the Mohammadpur Krishi Market.
Around three months ago, the price of BR-28 rice was Tk 54 per kg. The price has surged in five to six phases over the last three months, Fatema added.
“My son, a garment worker, is the sole earner for our six-member family. The prices of daily essentials keep skyrocketing, but his income isn’t increasing. How are we supposed to survive?” she asked.
Md Rashel, a retail trader at Ma Rice Bhandar in Mohammadpur Krishi Market, said, “We make a profit of Tk 5 to Tk 6 per kg. We have no choice but to raise prices as wholesalers are charging us more.”
Source Link : https://asianews.network/rice-prices-surge-in-bangladeshs-kitchen-markets/
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