Prices of five essentials fall at Ctg wholesale hubs

CHATTOGRAM: Prices of five essential items - chickpeas, peas, soybean oil, palm oil and sugar - dropped a bit just a day before the Islamic holy month of Ramadan at wholesale business hubs in Chattogram.
Traders at Khatunganj, Asadganj and Chaktai wholesale markets said the prices of soybean oil, palm oil and sugar have decreased due to an adequate import of the items.
Besides, there has been an unexpected influx of the large volume of Indian chickpeas into the market through land ports, bringing down the price of the product, they said.
The traders said the import of goods declined slightly a few months ago, but it has now bounced back.
President of Chittagong Chamber of Commerce and Industry (CCCI) Mahbubul Alam said, "Essential products against LCs opened in January and February targeting Ramadan have started arriving now (March). As a result, the prices of some products have slightly decreased."
Chickpeas, which were Tk 3,300 per maund even 10 days ago, are now selling at Tk 2,800 a maund.
The price of peas is Tk 2,850 per maund, which was Tk 3,400 a maund even around a week back.
Sugar was selling at Tk 4,450 per maund just 10 days back - the price has decreased to Tk 3,980 a maund now.
The price of soybean oil is Tk 6,350 per maund, which was Tk 6,550 a maund over a week back.
On the other hand, the palm oil price has decreased by Tk 200 from Tk 4,900 per maund to Tk 4,700 a maund.
Alamgir Parvez, an importer and a wholesale trader of essentials, said prices of the five important essentials for Ramadan decreased in the wholesale market just before the Islamic holy month.
"As the importers have brought in an adequate amount of essential items this year, there is no possibility of any shortage of such commodities in Ramadan," he added.
Mohammed Mohiuddin, general secretary of the Chaktai-Khatunganj Wholesale General Traders Welfare Association, said the supply and import of essentials are good.
"The supply of commodities in the market has started increasing. So, prices of essentials may come down in Ramadan," he added.

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