Prices of essentials rise further
Saturday, 3 November 2007
FE Report
Prices of most of the essential commodities including rice, onion, edible oil, coarse flour, potato and newly arrived vegetable items marked further rise while prices of other commodities were unchanged in the city markets over the past week.
Market sources said prices of rice and onion and coarse flour, that recorded a significant rise in the country mainly due to an embargo in export of some essential commodities by the Indian government recently, are unlikely to come down soon.
Side by side the price hike of commodities in the international market, they said, the devastating flood that hit 39 districts also contributed to skyrocketing price of the essentials at the fag end of the year.
Talking to the FE, some shoppers in the city's kitchen markets Friday told the FE that almost all the commodities had gone beyond their buying capacity.
"By competing with the soaring market price, I can't save a single penny at the end of the month; rather I need to spend a considerable amount of money from my savings every month to meet the minimum requirement," said a buyer expressing his disappointment.
Buyers said, sky rocketing prices of rice of different varieties have affected the people of lower and middle classes.
Very much wholesale rice traders at the city's Badamtali wholesale rice market told the FE that the traders were not at all interested to import rice from other countries due to higher transportation and other costs.
The wide gap in supply and demand in the lean season of paddy contributed to price hike of rice, sources said adding prices of rice are unlikely to come down before the harvesting of Aman paddy begins.
During the last week, at the wholesale level, Minicate variety of rice was selling at about Tk 1150 per maund (37.50-38 kg) against its previous rate at Tk 1080 per maund one month ago. Nazirshail variety of rice was selling at Tk 1320 per maund compared with its previous rate at Tk 1250 per maund, Indian Swarna at Tk 870 per maund compared with its previous rate at Tk 830 per maund, BRRI at Tk 830 per maund compared with its previous rate at Tk 760 per maund and Lata variety of rice at Tk 910 per maund compared with its previous rate at Tk 850 per maund.
At the retail level, prices of coarse variety of rice ranged between Tk26 and Tk27 and finer variety of rice ranged between Tk 35 and Tk40per kg, traders said.
Over the past week, at the retail level onion was selling at Tk 60-Tk62 per kg compared with its previous rates at Tk 54-Tk55 per kg, traders said.
They said during the last week prices of edible oil registered a slight increase mainly due to price hike of the item in the international market.
Over the past week, at the wholesale level soybean oil was selling at Tk 3100-Tk3120 per maund compared with its previous rates at Tk 2940-Tk2950 per maund, super palm oil at Tk 2940-Tk2950 per maund compared with its previous rates at Tk 2820-Tk2830 per maund and palm oil at Tk 2850 per maund compared with its previous rates at Tk 2760-Tk2780 per maund.
Prices of most of the essential commodities including rice, onion, edible oil, coarse flour, potato and newly arrived vegetable items marked further rise while prices of other commodities were unchanged in the city markets over the past week.
Market sources said prices of rice and onion and coarse flour, that recorded a significant rise in the country mainly due to an embargo in export of some essential commodities by the Indian government recently, are unlikely to come down soon.
Side by side the price hike of commodities in the international market, they said, the devastating flood that hit 39 districts also contributed to skyrocketing price of the essentials at the fag end of the year.
Talking to the FE, some shoppers in the city's kitchen markets Friday told the FE that almost all the commodities had gone beyond their buying capacity.
"By competing with the soaring market price, I can't save a single penny at the end of the month; rather I need to spend a considerable amount of money from my savings every month to meet the minimum requirement," said a buyer expressing his disappointment.
Buyers said, sky rocketing prices of rice of different varieties have affected the people of lower and middle classes.
Very much wholesale rice traders at the city's Badamtali wholesale rice market told the FE that the traders were not at all interested to import rice from other countries due to higher transportation and other costs.
The wide gap in supply and demand in the lean season of paddy contributed to price hike of rice, sources said adding prices of rice are unlikely to come down before the harvesting of Aman paddy begins.
During the last week, at the wholesale level, Minicate variety of rice was selling at about Tk 1150 per maund (37.50-38 kg) against its previous rate at Tk 1080 per maund one month ago. Nazirshail variety of rice was selling at Tk 1320 per maund compared with its previous rate at Tk 1250 per maund, Indian Swarna at Tk 870 per maund compared with its previous rate at Tk 830 per maund, BRRI at Tk 830 per maund compared with its previous rate at Tk 760 per maund and Lata variety of rice at Tk 910 per maund compared with its previous rate at Tk 850 per maund.
At the retail level, prices of coarse variety of rice ranged between Tk26 and Tk27 and finer variety of rice ranged between Tk 35 and Tk40per kg, traders said.
Over the past week, at the retail level onion was selling at Tk 60-Tk62 per kg compared with its previous rates at Tk 54-Tk55 per kg, traders said.
They said during the last week prices of edible oil registered a slight increase mainly due to price hike of the item in the international market.
Over the past week, at the wholesale level soybean oil was selling at Tk 3100-Tk3120 per maund compared with its previous rates at Tk 2940-Tk2950 per maund, super palm oil at Tk 2940-Tk2950 per maund compared with its previous rates at Tk 2820-Tk2830 per maund and palm oil at Tk 2850 per maund compared with its previous rates at Tk 2760-Tk2780 per maund.