Rice, edible oil prices fall in city markets

FE Report
Prices of rice and edible oil reduced in the city markets in the week, ending Friday, compared to those of its previous week, traders said.
Besides, prices of some vegetables declined significantly in last seven days amid increase in their supply from the producing hubs.
Prices of other major commodities, including meat, fish, milk, pulses, sugar, salt, flour and tea, etc were static in the week.
Prices of different varieties of rice reduced by Tk 2-4 per kg at the retail level in the week, following the ongoing Boro harvest, which made a significant impact on the prices.
According to the traders, Brridhan-28 (new) was sold at Tk 37-39 per kg Friday, which was Tk 42-43 seven days back. Brridhan-28 (old) was sold at Tk 40-42 per kg on the day against Tk 44-46 a week back.
Miniket rice of best quality was sold at Tk 50-52 per kg, while other varieties of Miniket were sold at Tk 46-48 per kg, declining Tk 2-3 per kg in last seven days.
Coarse rice of Shwarna variety was sold at Tk 33-34, and a few worse quality imported varieties were sold at Tk 31-32 per kg, which were Tk 1-2 per kg more a week ago.
A trader in Lalbag area told the FE that rice prices reduced, as new crop hit the market.
"But it may be the last decline before the Aman season. The price will not reduce like last year. Rather it may increase further in the coming days."
"The price of paddy is much higher in this Boro harvesting season, comparing to that of the previous season," he added.
Prices of edible oils, including soybean and palm, reduced by Tk 2-4 per litre in a few days.      
Prices of palm oil and super palm oil were Tk 76-78 a litre and Tk 84-86 a litre respectively.
Price of loose soybean oil reduced by Tk 4-6 per litre and was sold at Tk 106-108 per litre. Prices of bottled soybean oil of various brands also dropped by Tk 2-3 per litre, and a five-litre container was sold at Tk 560-565.
A retailer in Hazaribagh area said price of loose soybean oil at Moulovibazar wholesale market in the city reduced to Tk 3,450-3,500 per maund (37.32 kg) from Tk 3,600-3,650 per maund a week back.
"Traders have told us that supply of soybean oil has increased, and its price has reduced in the mill-gates," he added.
According to the Bangladesh Edible Oil Wholesale Merchants' Association, super palm oil was sold at Tk 2,870-2,900 per maund Friday, which was Tk 2,950-3,000 per maund a few days back.
Prices of vegetables, including okra, snake gourds, pointed gourds, bitter gourds, ridge gourds and teasel gourd etc, reduced by Tk 5-10 per kg or per bunch Friday, vendors said.
Onion prices reduced slightly by Tk 1-2 per kg, and were sold at Tk 34-35 per kg (local) and Tk 26-28 per kg (imported).
However, ginger of local variety maintained higher prices and were sold at Tk 160-180 per kg.