The prices of red meat and potato witnessed a fresh hike in the capital on Saturday, thereby intensifying consumer owes further this Ramadan.
Beef prices rose further by Tk 20-40 a kilogram to Tk 750-820 in different city areas.
Khalil Gosto Bitan, a shop that sells meat at Tk 665 per kg, hanged a notice outside its Uttar Shajahanpur outlet, saying it will remain shut on Saturday and Sunday (March 23 and 24).
The closure of the shop on the day caused a further hike in beef prices in adjacent areas on the day.
Belayet Ali, a Basabo resident, said he went to the shop on Saturday morning but got it closed. "A salesman told me that it might open next Monday."
The closure of Khalil's shop has caused a surge in beef price in many parts of the city on the day, he added.
"Usually, the shop remains open daily, even on Eid days," said Mr Ali.
However, beef sold at Tk 750-820 a kg in the city, marking a fresh hike of Tk 20-40 a kg on Saturday.
An estimated 5,000 people buy beef from Kahlil's shop daily.
On the first Friday (March 15) of the ongoing Ramadan, the shop made sales to the tune of Tk 10 million, according to Khalilur Raman who runs the outlet.
Khalil's shop started selling beef at Tk 595 a kg from the beginning of Ramadan and declared to continue the sale until March 25.
However, much to everybody's surprise, he raised the price by Tk 100 to stand at Tk 695 a kg last week.
About shutdown of the shop, Mr Khalil said he closed the shop for two days (Saturday and Sunday) as adequate cattle heads could not be sourced.
"We're slaughtering 20-30 cows every day, while prices of animals have also increased by Tk 15-20 per cent just in the last one week," he added.
Replying to a query about any potential pressure, the trader said there was no pressure from any quarter for raising the price of beef in his shop.
"Two days' closure was also needed for salesmen and workers who have been providing beef to consumers seamlessly," he told the FE.
The Directorate of National Consumer Rights Protection recently honoured Mr Khalil on the occasion of World Consumers Day for selling beef cheap in December 2023 when the market price was Tk 700-780 a kg.
He got the 'Recognition of Best Practice in Business'.
Meanwhile, potato prices showed another hike by Tk 5.0 a kg on Saturday as Diamant and Cardinal varieties retailed at Tk 45-50 a kg and Red Carriage at Tk 55-65 a kg in groceries and kitchen markets.
According to sources, potato showed a total hike of Tk 15 a kg just in a week, according to the Trading Corporation of Bangladesh (TCB) and city groceries.
Shafiqul Gani, a Nilphamari-based trader, said big business and cold storage owners were busy storing potato now.
Production was not so good, thus making traders rush to collect best potatoes much earlier, according to him.
This competition is largely contributing to a surge in potato prices, comments Mr Gani.
The price at farm level is now Tk 27-29 a kg, which was below Tk 18 in the corresponding period last year.
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