Prices of imported spices show downward trend
Sunday, 23 November 2008
Mahmuda Shaolin
Prices of spices, especially the imported varieties, have recorded a downward trend in the city markets due mainly to their fall in the international market.
Market sources said prices of imported spices, including cinnamon, raisin, cardamom and clove, declined by Tk 20 to Tk 30 per kilogram (kg) at the wholesale level and at least Tk 25 per kg in the city's retail level over the last few days.
"We're anxious about the price level ahead of Eid-ul-Azha because prices of different varieties of spices declined by Tk20 to Tk30 per kg at the wholesale level as prices came down in the international markets," said a trader of the city's Moulvibazar wholesale market.
Importers are brining in a tonne of Indian cumin at Tk 2593 (Rs. 1400), which was Tk 3889 (Rs. 2100) a month ago, said Anower Hossain, an importer of the city's Moulvibazar wholesale market.
"Prices continue to fall. The reason is simple--importers are clearing their stocks ahead of Eid-ul-Azha," said Enaetullah, another importer of Babubazar in the city.
He said production of spices in India is better than that of previous season and overall demand for spices has fallen worldwide because of global economic meltdown.
According to the wholesale traders, Indian cumin is selling at Tk 240-Tk248 per kg while Iranian variety at Tk 300 per kg against their previous rates of Tk 330-Tk 340 and Tk 320-Tk 310.
Now, a kg of cardamom is selling at Tk 820-Tk1050, cloves at Tk 575 per kg, cassia leaves at Tk 35-Tk40 per kg and cinnamon at Tk 115-Tk117 per kg, according to the traders of the wholesale market of Babubazar and Moulvibazar.
In the city's retail markets, prices of imported Iranian cumin is selling at Tk 320 per kg while the Indian one at Tk 350 per kg against their previous rates of Tk 330 and Tk 380.
Black pepper is selling at Tk 600 per kg, cinnamon Tk 150 per kg, cloves Tk 620 per kg and cardamom at Tk 1050-Tk1200 per kg at the retail level.
But prices of locally produced spices, including, garlic, ginger, turmeric and chilli, have also gone up to some extent, market operators.
"Different varieties of local spices increased by Tk 10 to Tk 15 per kg at the retail level ahead of holy Eid-ul-Azha," said a trader of Shantinagor Bazar.
Ginger is being sold at Tk 70-80 per kg, which was at Tk 60-65 last month, red-chilli at Tk 100- Tk 110, garlic Tk 35-40 and local and imported onion Tk 48 and Tk33-Tk35 per kg respectively at retail markets.
Prices of spices, especially the imported varieties, have recorded a downward trend in the city markets due mainly to their fall in the international market.
Market sources said prices of imported spices, including cinnamon, raisin, cardamom and clove, declined by Tk 20 to Tk 30 per kilogram (kg) at the wholesale level and at least Tk 25 per kg in the city's retail level over the last few days.
"We're anxious about the price level ahead of Eid-ul-Azha because prices of different varieties of spices declined by Tk20 to Tk30 per kg at the wholesale level as prices came down in the international markets," said a trader of the city's Moulvibazar wholesale market.
Importers are brining in a tonne of Indian cumin at Tk 2593 (Rs. 1400), which was Tk 3889 (Rs. 2100) a month ago, said Anower Hossain, an importer of the city's Moulvibazar wholesale market.
"Prices continue to fall. The reason is simple--importers are clearing their stocks ahead of Eid-ul-Azha," said Enaetullah, another importer of Babubazar in the city.
He said production of spices in India is better than that of previous season and overall demand for spices has fallen worldwide because of global economic meltdown.
According to the wholesale traders, Indian cumin is selling at Tk 240-Tk248 per kg while Iranian variety at Tk 300 per kg against their previous rates of Tk 330-Tk 340 and Tk 320-Tk 310.
Now, a kg of cardamom is selling at Tk 820-Tk1050, cloves at Tk 575 per kg, cassia leaves at Tk 35-Tk40 per kg and cinnamon at Tk 115-Tk117 per kg, according to the traders of the wholesale market of Babubazar and Moulvibazar.
In the city's retail markets, prices of imported Iranian cumin is selling at Tk 320 per kg while the Indian one at Tk 350 per kg against their previous rates of Tk 330 and Tk 380.
Black pepper is selling at Tk 600 per kg, cinnamon Tk 150 per kg, cloves Tk 620 per kg and cardamom at Tk 1050-Tk1200 per kg at the retail level.
But prices of locally produced spices, including, garlic, ginger, turmeric and chilli, have also gone up to some extent, market operators.
"Different varieties of local spices increased by Tk 10 to Tk 15 per kg at the retail level ahead of holy Eid-ul-Azha," said a trader of Shantinagor Bazar.
Ginger is being sold at Tk 70-80 per kg, which was at Tk 60-65 last month, red-chilli at Tk 100- Tk 110, garlic Tk 35-40 and local and imported onion Tk 48 and Tk33-Tk35 per kg respectively at retail markets.