Rice prices continue to go up as millers have captured the market, say market observers.
Last week, coarse rice prices rose to Tk 58-60 a kg, medium one Tk 68-72 a kg, and the fine variety Tk 80-95 a kg.
The prices are increasing at a time when Aman harvesting is at the final stage, with 95 per cent collected till January 2, says the Department of Agricultural Extension (DAE).
Nazim Uddin, a grocer in the capital's west Dhanmondi, told The Financial Express wholesale rice prices had increased by Tk 100-150 per 50kg sack in a week and Tk 300 per sack in the last two weeks.
The BRRI Dhan-28 variety is being sold at Tk 3,200-3,240 a sack now, which was Tk 3,000-3,050 a sack a week back and Tk 2,900-2,950 two weeks ago.
Other medium varieties like Swarna-5, Paijam, and Lata also witnessed a hike of Tk 5-6 per kg in two weeks.
The prices of fine rice varieties like Miniket, Najirshail, and Jeerashail also saw notable hikes during the period.
Abdul Gafur, a trader at the Mohammadpur Agricultural Market, said millers have been raising prices every week since November last year.
He said millers are now supplying Guti Swarna, a coarse variety of the Aman season, at Tk 53-54 a kg, which was Tk 46-47 a kg in the corresponding period of last year.
He said seasonal Najirshail and Shampa Katari prices had shot up to Tk 78-79 a kg at mill gates. "We are wholesaling it at Tk 80-82 a kg."
HR Khan Pathan, secretary of Bangladesh Auto Major and Husking Mill Owners Association, however, said big millers and their allied traders in Naogaon, Dinajpur, Rangpur, Jashore and a few other hubs had bought huge amounts of paddy in November-December in the face of concerns of lower production due to the July-August floods.
He said Guti Swarna prices were Tk 1,250-1,300 a maund at the beginning of the season, which is now a minimum of Tk 1,500 a maund.
Consumers Association of Bangladesh (CAB) Vice President SM Nazer Hossain said millers had captured the market and the government could hardly do anything.
The agriculture, commerce, food, and home ministries should immediately take action against unscrupulous millers to regain control of the market, he said.
He also said operations by the food and commerce ministries should continue to provide rice for 40 million poor people at affordable prices.
Farm economist and value chain expert Prof Dr Md Taj Uddin told The Financial Express the flood-induced concerns and millers' tendency to fetch excessive profits had made the market volatile.
He said millers in Naogaon, Dinajpur, Rangpur, Chapainawabganj, Rajshahi, Pabna, Jamalpur, Jashore, and other hubs should be brought under strict monitoring immediately.
The professor also said millers having contracts with the government are not supplying rice to the food directorate, which is alarming as stocks at public warehouses have declined to a new low.
Incentives should be given to private importers to encourage them to bring in rice from global sources, Uddin said.
The ongoing Aman procurement drive, in which the food ministry has the target to buy 0.7 million tonnes of paddy and rice, must be finished, he added.
Meanwhile, the prices of most vegetables declined in the last seven days, bringing consumers further relief.
Onion prices fell to Tk 50-60 a kg, depending on quality, from Tk 60-70 a kg seven days back. The increasing supply of seasonal seed onions, known as murikata, helped ease prices to such a low, said grocers and vendors.
Potato prices also witnessed a reduction by Tk 10 a kg. The newly harvested varieties retailed at Tk 45-50 a kg on Friday.
The prices of almost all winter vegetables, including cauliflower, cabbage, country bean, radish, turnip, carrot, tomato, and brinjal, further declined by Tk 10-15 a kg.
Cauliflower is being retailed at Tk 20-30 a piece, while tomato is selling at Tk 50-80 a kg, depending on quality.
Brinjal prices cooled down to Tk 30-60 a kg from Tk 50-80 a kg last week.
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