Rice prices go up

The prices of all varieties of rice have increased by 13 to 19 per cent, says a Trading Corporation of Bangladesh (TCB) survey. Price of medium-coarse rice has risen the most, followed by the prices of fine and coarse rice. According to the TCB, prices of rice were 17pc higher this May 23 than what it was on the same day last year. Najirshile and Miniket are among the finer varieties of the grain. A year back, these fine varieties could be had for anything between Tk 34 to Tk 48 a kilogram. Now they are selling for Tk 40-56. The price of medium-quality has risen steeply by 18.57 pc. Last year this time they used cost Tk 34-36 per kg. This year they are selling at Tk 39-44. The price of coarse rice has risen by 12.90pc. The prices are have shown no sign of falling, although fresh Boro harvest, the rice most extensively cultivated in the country, has already hit the market. The selling price of rice has risen sharply but production costs have not shown a similar increase, agriculture officials have said. Abdur Rashid, Managing Director of Kushtia’s Rashid Agro, said several factors were behind the price rise. ‘Aman production has been low and there is not much coarse rice in Boro paddy. Besides, businessmen passed through a difficult phase. These factors have influenced the prices,’ he added, according to bdnews24.com.