Egg, chilli, hilsa prices rise amid lax market monitoring

The prices of egg, vegetable, delicious hilsa, green chilli and other commodities have surged over the past week, making the items increasingly unaffordable for poor and low-income consumers.
Apart from ongoing rainfall across the country, market observers said, insufficient market monitoring has given traders an opportunity to exploit the situation for a windfall profit.
Eggs are now selling at Tk 170-175 a dozen in mainstream kitchen markets and Tk 175-180 in grocery stores in residential areas, marking an increase of Tk 10 a dozen in a week and Tk 20 over the last fortnight, according to market sources.
The current prices are Tk 10-15 higher than Tk 166 a dozen, the government-fixed maximum retail price (MRP) ceilings set on September 15.
Meanwhile, the price of hilsa has reached a record high.
Small to medium-sized hilsa now retails at Tk 1,400-1,700 a kg, while larger hilsa is priced at Tk 1,850-2,400, reflecting a Tk 200 increase in just one week.
Traders attribute this hike to the government's recent decision to export hilsa to India, further driving up the price of this already expensive fish.
However, market analysts argue that this is merely an excuse, as the approved export quantity is minimal.
Prof Rashidul Hasan, an agribusiness market expert, told the FE that the export of 2,500-3,000 tonnes of hilsa would have insignificant impact, as the daily catch during the August-October period exceeded 6,000 tonnes.
The government previously sensationalised the issue by initially refusing to permit export due to high domestic prices and later allowing it, thereby further encouraging coastal traders to raise hilsa prices, he said.
Prof Hasan said lax market monitoring, both in district wholesale hubs and Dhaka city, have been causing a further hike in prices.
In addition to egg and hilsa, the price of green chilli has hit Tk 320-400 a kg, depending on city markets and areas, marking a Tk 60-100 increase in just one week.
Furthermore, the prices of some vegetables have risen by Tk 10-30 a kg compared to the previous week.
Vendors cite continuous rainfall and the end of the summer vegetable season, coupled with a limited supply of early winter vegetables, as key factors behind this price hike of vegetables.
Except for papaya, no vegetable is currently available at below Tk 80 a kg.
Snake gourd and colocasia stems are being sold at Tk 80-90 a kg, while yardlong beans, teasel gourd, bitter gourd and brinjal are priced at Tk 100-140 a kg.
Early winter crops like country beans are selling at Tk 250-280 a kg, while cauliflower and cabbage are priced at Tk 50-80 a piece.
Pointed gourd has risen from Tk 60-70 to Tk 90-100 a kg in just one week.
Tanvir Hossain, a vegetable vendor at Rayerbazar Kitchen Market, says vegetable prices usually rise slightly at the end of the summer season, just before the winter season begins.
This year, adverse weather conditions have disrupted supply, driving up prices, especially in remote areas.
Mr Hossain predicted that vegetable prices would likely remain high until mid-November.

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