Hike in retail price of spice

The retail prices of hot spices have soared further ahead of Ramadan in alignment with the trend of sky-rocketing rates of other essential commodities.
Cardamom retailed between Tk 3,200 and Tk 4,200 per kilogram depending on quality, a Tk 800-1,000 hike a kg in a week. Per 100 gram was hiked by Tk 80-100.
On the other hand, cloves climbed to Tk 2,200-2,240 a kg compared to Tk 2,000 even a week ago.
Cinnamon also showed a Tk 100-120 hike in price per kg during the period in question.
Branded turmeric, chili, coriander, and cumin powders have also been raised by the companies with prices escalating by Tk 10 to Tk 20 per 100 gram pack.
The FE visited several spice markets in the capital on Friday morning to know about their latest prices.
Turmeric powder of 100-gram pack rose to Tk 65 from Tk 55 while chili powder prices increased to Tk 100 marking a Tk 10 hike a pack further in seven days.
Beef, chicken and fish mixed packet masala also showed a Tk 5.0-10 hike per 50 or 100 gram pack.
Jahir Uddin Rony, a grocer at Bashbari in Mohammadpur, said all the leading companies have raised prices of packet spice recently.
He said the maximum retail price (MRP) of a 15-gram cumin powder packet now sold at Tk 48, which was Tk 43 two weeks back and Tk 25 a year back.
He said 50 gram cumin powder pack has surged to Tk 135 from Tk 105 a month back and Tk 65 a year back.
However, the prices of onions also remained persistently high, hovering around Tk 130 per kg, with no indication of relief in sight.
Ginger and garlic prices also surged by up to Tk 20-40 a kg in a week.
Ginger was sold at Tk 220-280 and garlic Tk 220-260 a kg on Friday.
Consumers Association of Bangladesh president Ghulam Rahman said traders were capitalising on the approaching Ramadan to maximise profits, thanks to lax monitoring by government agencies.
He said 'the approach of traders' for the last few years was to raise commodity prices to their maximum level long before Ramadan to avert vigilance during the holy month.
The government should also change its strategy by intensifying market monitoring vastly to prevent unusual price hike, he observed.
As the holy month of Ramadan draws near, the prices of essential goods continue to rise steadily.
Alongside staples like rice, the prices of fish, meat, pulses and spices have also witnessed hikes.
Sugar, edible oil, beef, chicken, eggs, pulses, onions and dates have all experienced price increases, placing a further strain on consumers.

[email protected]