RANGPUR, July 13: Prices of almost all rice varieties have surged across the district, taking a heavy toll on the working class and the low-income people.
The spike in rice prices has pushed the ordinary people already struggling to cope with the relentless price escalation of other daily essentials to an unbearable level of hardships.
Similarly, prices of aromatic rice have also soared abnormally in local markets of the district.
Sources alleged that with the Boro season ending a month ago, paddy is unavailable locally, giving traders the opportunity to hike prices.
This steep price surge has created severe financial hardship for the region's low- and middle-income households.
According to the Department of Agricultural Extension (DAE), Rangpur, approximately 5.5 million tonnes of paddy was produced in eight districts of Rangpur division during the current season, against a demand of 2.8 million tonnes.
Despite this massive surplus, and even though paddy is selling for Tk 1,300-1,400 per maund in rural markets, there has been no positive impact on the rice market.
In Rangpur's local markets including City Bazar, CO Bazar, and Kamalkachhna Bazar, prices of rice have spiked significantly. Coarse rice varieties like Swarna and BRRI-29 rose from Tk 55-56 to Tk 60 per kg over the last 10 days. Medium-quality BRRI-28 and premium fine varieties like Nazirshail have also seen steep increases, making even the lowest-quality coarse staple unaffordable for many.
On the other hand, prices of different varieties of aromatic rice have also increased in local kitchen markets. Presently, Chinigura aromatic rice is being sold at Tk 200-210 per kg against its previous price of Tk 150-160 a kg earlier. The price of per Kg Katari aromatic rice has surged to Tk 110-120 per kg, up from its previous rate of Tk 100 a kg.
Md. Hamidul, a wholesaler of rice at City Bazar Rangpur, told The Financial Express that prices of aromatic rice began to soar just after the end of Eid-ul-Azha.
Especially price of Chinigura aromatic rice has surged abnormally.
He further noted that wholesale prices of Chinigura fragrant rice currently range from Tk 9,000 to Tk 10,000 per 50-kg sack against its previous price of Tk 7,500 to Tk8,000 last month.
Touhidul , a rickshaw puller who came to City Bazar to buy rice, told The Financial Express that his six-member family requires an average of 2 kg of rice daily. He mentioned that arranging the Tk 120 to 130 required for this purpose remains a significant challenge, as he must balance this with everyday living costs.
Retailers and wholesalers allege that the rice market has become volatile owing to a syndicate of automatic rice mill owners and hoarders. However, a section of local mill owners claims that big traders from the southern region are purchasing the vast majority of local paddy. An artificial crisis has emerged in the market because agents hired by these traders bought up and stockpiled paddy at low prices right at the start of the season.
A rice mill owner from Rangpur, requesting anonymity, explained that due to various hardships, farmers are often compelled to sell their paddy immediately after harvesting.
Large mill owners take advantage of this situation; they start to purchase and stockpile paddy at low prices since the beginning of the season.
In light of these circumstances, common people urged the government to take immediate step to curb the escalating price of rice in the region.
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