The already-volatile essential-commodity market witnessed another round of fresh price hikes last week, fueled by disruptions to the supply chain following the national elections.
Rice, beef, chicken, flour and pulses saw price increases last week, leaving consumers wondering about the probable market temperature in the upcoming Ramadan in March.
Beef prices surged by Tk 50-100 per kg within a week, reaching Tk 680-720 per kg in most meat shops, disregarding the set rate of Tk 650.
Many meat shops lacked visible price lists, as observed in various parts of the city.
Md Monayem Ali, a meat trader at Nurjahan Road in Mohammadpur, said cattle prices soared 25-30 per cent over the past two weeks.
He said cattle rearers are holding onto animals, expecting high demand during Ramadan and upcoming Eids.
According to Monayem Ali, the price hike in early January has led consumers to opt for higher-priced lean beef, avoiding cheaper cuts with undesirable parts.
Simultaneously, all rice varieties experienced a Tk 2.0-5.0 per kg increase in both wholesale and retail markets. Flour prices rose by Tk 2.0-3.0 per kg within a week and Tk 15 per kg over the past month.
Lentil prices reached a record high, with coarse varieties at Tk 118-125 and finer varieties fetching Tk 155-165 per kg, reflecting a Tk 10 per kg increase in a week and a registering Tk 20-25 per kg climb within a month, according to retailers.
Broiler chicken prices saw a Tk 20 per kg hike, reaching Tk 210-220 per kg, while Pakistani or Sonali chicken prices soared to Tk 350-370 per kg by Thursday, said traders.
Potato prices remained stable at their previous high, while onions showed a slight fall, according to market sources.
Monwarul Alam, a grocer at Buddhijibir Dhal in Rayerbazar, reported an overall increase in wholesale prices for various products.
He said prices of chickpeas, lentils, anchor pulses, sugar, both fragrant and normal rice and spices spiralled at major wholesale markets like Moulovibazar, Shyambazar, Karwan Bazar in Dhaka and Khatunganj in Chattogram.
Mr Alam said traders are deliberately releasing items in lower quantities, anticipating further price rises before Ramadan.
SM Nazer Hossain, vice president of the Consumers Association of Bangladesh, pointed out that beef prices began escalating again just ahead of Ramadan.
He voiced concerns about traders employing familiar tactics to inflate prices well before the month of fasting, aiming to avoid scrutiny during the month.
He urged the government to take immediate and rigorous action to maintain market stability and address price gouging.
He called for investigating flour price hikes despite a global decline in wheat prices over the past year.
He also demanded government management for LC opening of essential commodities to ensure an adequate supply during the high-demand period of Ramadan.
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