Impact of just announced budget on market yet to be felt
Saturday, 9 June 2007
FE Report
Traders of essential commodities said it will take some time to feel any impact of the just announced national budget on the prices of commodities in the local markets.
Finance Adviser A B Mirza Azizul Islam announced the national budget for 2007-08 fiscal Thursday last where he proposed a good number of measures for reining in the skyrocketing prices of the essential commodities in the local markets.
In the budget speech he proposed complete withdrawal of customs duty on crude edible oil and lentils to keep the market price tolerable.
He also proposed continuation of duty-free benefit on essential commodities including rice, wheat, onion, 'matar dal' and 'chhola dal'.
He proposed re-fixation of specific rate of duty at Tk 4000 per tonne instead of existing specific rate of duty at Tk 2250 on raw sugar import to avert mis-declaration and also to address the problems being faced by 500,000 sugarcane growers and local sugar industries.
It was noticed in some markets in the city Friday that sugar was selling at higher prices just after one day of budget announcement, but edible and lentil were selling at their previous high although the finance adviser proposed complete withdrawal of duty on import of those items.
In most of the city markets sugar was selling at its previous rate at Tk 30-Tk 32 per kg, traders said.
During the last week, prices of the essential commodities remained unchanged in the city markets.
At the retail level, prices of fine varieties of rice remained unchanged at Tk 26-Tk 28 per kg and the coarse varieties of rice at Tk 21-Tk 22 per kg.
During the last week at the wholesale level prices of Indian variety of Swarna and Paari remained unchanged at Tk 750-Tk 780 per maund and Lata at Tk 850-Tk 860 per maund.
Prices of IRRI variety of rice remained unchanged at Tk 700-Tk 710 per maund, Nazirshail from Savar at Tk 850-Tk 900 per maund and Nazirshail from North Bengal at Tk 920-Tk 930 per maund.
Prices of Minicate variety of rice remained unchanged at Tk 1010-1020 per maund at wholesale level, traders said.
During the last week at the wholesale level prices of soybean oil remained unchanged at Tk 2550 per maund, super palm oil at Tk 2520-Tk 2530 per maund and the palm oil at Tk 2500 per maund.
At the retail level, five-litre cans of edible oil of different brands were selling at Tk 365. During the last week onion was selling at Tk 16 per kg, unchanged from the previous week.
During the last week at the wholesale level sugar was selling at Tk 1050 per maund, unchanged from the previous week.
During the last week in the vegetable markets brinjal and bitter gourd prices remained unchanged at Tk 20-Tk 24 per kg. Prices of okra, snake gourd and ridge remained unchanged at Tk 20 per kg during the last week.
Prices of green chilli remained unchanged at Tk 32-Tk 36 per kg. Traders said garlic was selling at Tk 40-Tk 60 per kg, unchanged from the previous week.
Prices of the fine variety of lentil remained unchanged at Tk 70-Tk 72 per kg and its Turkish variety at Tk 64-Tk 66 per kg. Prices of 'moong' pulse remained unchanged at Tk 70-Tk 74 per kg during the last week.
During the last week ginger was selling at Tk 35-Tk 40 per kg, unchanged from the previous week. During the last week beef was selling at Tk 180 per kg, unchanged from the previous week.
In the last week, prices of poultry birds remained unchanged at Tk 90-Tk 100 per kg and eggs at Tk 52 per dozen.
Mutton was selling at Tk 220-Tk 230 per kg, unchanged from the previous week. During the last week a medium-size hilsa fish was selling at Tk 250-Tk 350, unchanged from the previous week.
During the last week at the retail level packaged coarse flour was selling at Tk 27-Tk 28 per kg, unchanged from the previous week in the city markets. Traders said prices of refined salt remained unchanged at Tk 18 per kg.
Traders of essential commodities said it will take some time to feel any impact of the just announced national budget on the prices of commodities in the local markets.
Finance Adviser A B Mirza Azizul Islam announced the national budget for 2007-08 fiscal Thursday last where he proposed a good number of measures for reining in the skyrocketing prices of the essential commodities in the local markets.
In the budget speech he proposed complete withdrawal of customs duty on crude edible oil and lentils to keep the market price tolerable.
He also proposed continuation of duty-free benefit on essential commodities including rice, wheat, onion, 'matar dal' and 'chhola dal'.
He proposed re-fixation of specific rate of duty at Tk 4000 per tonne instead of existing specific rate of duty at Tk 2250 on raw sugar import to avert mis-declaration and also to address the problems being faced by 500,000 sugarcane growers and local sugar industries.
It was noticed in some markets in the city Friday that sugar was selling at higher prices just after one day of budget announcement, but edible and lentil were selling at their previous high although the finance adviser proposed complete withdrawal of duty on import of those items.
In most of the city markets sugar was selling at its previous rate at Tk 30-Tk 32 per kg, traders said.
During the last week, prices of the essential commodities remained unchanged in the city markets.
At the retail level, prices of fine varieties of rice remained unchanged at Tk 26-Tk 28 per kg and the coarse varieties of rice at Tk 21-Tk 22 per kg.
During the last week at the wholesale level prices of Indian variety of Swarna and Paari remained unchanged at Tk 750-Tk 780 per maund and Lata at Tk 850-Tk 860 per maund.
Prices of IRRI variety of rice remained unchanged at Tk 700-Tk 710 per maund, Nazirshail from Savar at Tk 850-Tk 900 per maund and Nazirshail from North Bengal at Tk 920-Tk 930 per maund.
Prices of Minicate variety of rice remained unchanged at Tk 1010-1020 per maund at wholesale level, traders said.
During the last week at the wholesale level prices of soybean oil remained unchanged at Tk 2550 per maund, super palm oil at Tk 2520-Tk 2530 per maund and the palm oil at Tk 2500 per maund.
At the retail level, five-litre cans of edible oil of different brands were selling at Tk 365. During the last week onion was selling at Tk 16 per kg, unchanged from the previous week.
During the last week at the wholesale level sugar was selling at Tk 1050 per maund, unchanged from the previous week.
During the last week in the vegetable markets brinjal and bitter gourd prices remained unchanged at Tk 20-Tk 24 per kg. Prices of okra, snake gourd and ridge remained unchanged at Tk 20 per kg during the last week.
Prices of green chilli remained unchanged at Tk 32-Tk 36 per kg. Traders said garlic was selling at Tk 40-Tk 60 per kg, unchanged from the previous week.
Prices of the fine variety of lentil remained unchanged at Tk 70-Tk 72 per kg and its Turkish variety at Tk 64-Tk 66 per kg. Prices of 'moong' pulse remained unchanged at Tk 70-Tk 74 per kg during the last week.
During the last week ginger was selling at Tk 35-Tk 40 per kg, unchanged from the previous week. During the last week beef was selling at Tk 180 per kg, unchanged from the previous week.
In the last week, prices of poultry birds remained unchanged at Tk 90-Tk 100 per kg and eggs at Tk 52 per dozen.
Mutton was selling at Tk 220-Tk 230 per kg, unchanged from the previous week. During the last week a medium-size hilsa fish was selling at Tk 250-Tk 350, unchanged from the previous week.
During the last week at the retail level packaged coarse flour was selling at Tk 27-Tk 28 per kg, unchanged from the previous week in the city markets. Traders said prices of refined salt remained unchanged at Tk 18 per kg.