Prices of rice, onion continue to rise

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FE Report
Prices of essential commodities, including rice and onion, have gone up substantially in the local markets putting the consumers, especially the people of low-income group, under tremendous pressure.
Market operators said prices of rice and onion have registered a significant rise in Bangladesh mainly due to a recent ban on export of some essential commodities by the Indian government.
"This is also a seasonal phenomenon in the country where supply of both rice and onion falls in the market at this period of time," admitted both rice and onion importers.
Talking to the FE a trader at the city's Badamtali Wholesale Rice Market said the traders do not feel encouraged to import rice from other countries due to higher transport and other costs.
As a result, a gap has already been created in supply of, and demand for, rice in the lean season of paddy cultivation, he said.
"But, the prices of rice will come down in a month's time when the harvest of Aman paddy will begin," he said.
On Wednesday, at the wholesale level, Minicate variety of rice was selling at Tk 1140 per maund (37.50kgs) against its previous rate at Tk 1080 per maund one month ago. Nazirshail variety of rice sold at Tk 1300 per maund compared with Tk 1250 previously, Indian Swarna at Tk 860 per maund against Tk 830 per maund, BRRI at Tk 820 per maund compared with Tk 760 and Lata variety of rice at Tk 900 per maund compared with Tk 850.
Traders said the supply of widely consumed Paari variety of rice has fallen sharply due to end of season. Most of its supply comes from India, traders said.
At the retail level, prices of coarse variety of rice ranged between Tk 24 and Tk 25 and finer variety at Tk 30-Tk 34 per kg, traders said.
On the other hand, at the retail level onion was selling at Tk 54-Tk 60 per kg compared with its previous rates at Tk 40-Tk 42 per kg a week ago, traders said.