People are seen buying meat at a shop in Khilgaon area on Saturday. — FE Photo by Asad-Uz-Zaman As the holy month of Ramadan begins today (Sunday), most essentials that people consume heavily in the fasting month witnessed a fresh hike overnight on Saturday.
The prices of beef, chicken, potato, cucumber, brinjal, coriander leaf increased substantially on the day from the levels of the day before (Friday).
Brinjal prices jumped by Tk 20 a kg in a day and Tk 40 a kg in a week as the retail price shot up to Tk 80-100 a kg on Saturday.
Indigenous cucumber prices increased to Tk 100-120 from Tk 70-80 a kg. However, hybrid cucumbers remained static at Tk 60-70 a kg.
Potato prices witnessed a Tk 5.0 hike as common varieties like cardinal and diamante were sold at Tk 30-35 a kg.
Julfiqar Ali, a vegetable vendor, said prices have shot up as the demand doubled ahead of starting the Ramadan.
He also pointed out that vegetable harvesting will continue in full swing for next three weeks and there would be no shortage of any items, but lemon.
He projected the prices to calm down to the previous levels on the second or third Ramadan.
Meanwhile, beef price increased to Tk 780-820 a kg, a Tk 20-30 surge in a week.
Price of fragrant rice (non branded loose form) witnessed a Tk 10 a kg surge in a day and Tk 20 a kg in a week, according to the groceries.
A grocer at West Dhanmodni said prices went up with the government announcement of issuing permits to export aromatic rice.
Meanwhile, the prices of daily-consumed rice have been maintaining a strict trend for the last one week, and the item was selling at its previous high rates.
Coarse rice is being sold at Tk 60-62, medium Tk 70-72 and finer at Tk 85-100 a kg.
Despite the hike, the prices of other essentials, except for rice and edible oil, remained static or lower
now than those of the last Ramadan, according to kitchen market sources.
Sugar and onion prices remain static at Tk120-125 and Tk45-55 a kg respectively.
Date prices witness a decline with an increase in supply from the importers' end, say traders.
Lower quality dates are retailed at Tk180-200, medium ones at Tk300-500 and finer varieties at Tk600-1400 a kg.
However, volatility in the edible oil market continues as one litre, two litre bottles of soybean oil are yet to be supplied by the distributors to the groceries.
Only a few groceries have five-litre bottles but not enough to meet the demand, said grocers.
Meanwhile, in the absence of products from mainstream companies, unscrupulous distributors are selling soybean oil at Tk 185-200 per litre, despite the government-set maximum retail price of Tk 175.
Many grocers and vendors are reportedly violating this price ceiling, taking advantage of the supply shortage.
The Consumers Association of Bangladesh (CAB) Vice President, SM Nazer Hossain, said that the instability in the soybean oil market has overshadowed the government's successes in stabilising the prices of other essential commodities, which are significantly lower this year.
He said that despite the start of Ramadan, refiners have failed to normalise the market. Refiners had previously announced in mid-February that the supply of edible oil would stabilise by February 26. However, four days have passed since the deadline, and the market remains volatile.
Mr Hossain said there is an urgent need for strict action against those manipulating the edible oil market.
"Such measures would not only stabilise the edible oil market but also help normalise supply chains for other commodities," he added.
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