Significant rise in prices of rice, onion in local markets
Saturday, 27 October 2007
FE Report
Prices of rice, onion, edible oil and newly arrived vegetable items increased and the prices of other essential commodities remained unchanged in the city markets over the past week.
Market operators said prices of rice and onion registered a significant rise in Bangladesh mainly due to an embargo in export of some essential commodities by Indian government recently.
"Moreover, this is the lean season for both rice and onion for Bangladeshi market," admitted both rice and onion importers separately.
Talking to the FE a wholesale rice trader at the city's Badamtali wholesale rice market said the traders do not feel encouraged to import rice from other countries due to higher transport and other costs.
As a result, a gap has already been created in supply and demand of rice in the lean season of paddy, he said.
"But, the prices of rice will come down within one month on the onset of harvesting of Aman paddy," he said.
During the last week, at the wholesale level, Minicate variety of rice was selling at Tk 1140 per maund (37.50 kg) in comparison to its previous rate at Tk 1080 per maund one month ago. Nazirshail variety of rice was selling at Tk 1300 per maund compared with its previous rate at Tk 1250 per maund, Indian Swarna at Tk 860 per maund compared with its previous rate at Tk 830 per maund, BRRI at Tk 820 per maund compared with its previous rate at Tk 760 per maund and Lata variety of rice at Tk 900 per maund compared with its previous rate at Tk 850 per maund.
Traders said the supply of Paari variety of rice has already come to an end as this item is widely consumed in Bangladesh. Most of the supply of Paari rice in Bangladesh comes from India, traders said.
At the retail level, prices of coarse variety of rice were Tk 24-Tk 25 and finer variety of rice ranged between Tk 30 and Tk 34 per kg, traders said.
Over the past week, at the retail level onion was selling at Tk 54-Tk 60 per kg compared with its previous rates at Tk 40-Tk 42 per kg, traders said.
Traders said during the last week prices of edible oil registered a further increase mainly due to price hike of the item in the international market, traders said.
Over the past week, at the wholesale level soybean oil was selling at Tk 3100-Tk 3120 per maund compared with its previous rates at Tk 2940-Tk 2950 per maund, super palm oil at Tk 2940-Tk 2950 per maund compared with its previous rates at Tk 2820-Tk 2830 per maund and the palm oil at Tk 2850 per maund compared with its previous rates at Tk 2760-Tk 2780 per maund.
In the international level crude soybean oil was selling at US$ 1015 per tonne compared with its previous rate at $1000 per tonne while the crude palm oil was selling at 2840 Malaysian ringgit, the local importers said.
At the retail level, prices of canned edible oil of different brands of five litres remained unchanged at Tk 400-Tk 410 compared with its previous rates at Tk 395-Tk 400.
During the last week at the wholesale level prices of sugar also increased to some extent. At the wholesale level, sugar was selling at Tk 1060-Tk 1080 per maund compared with its previous rates at Tk 1020-Tk 1025 per maund.
At the retail level sugar was selling at Tk 30-Tk 32 per kg compared with its previous rates at Tk 28-Tk 30 per kg.
During the last week brinjal was selling at Tk 36-Tk 40 per kg. During the last week prices of green chilli remained unchanged at Tk 80-Tk 100 per kg.
Potato was selling at Tk 21-Tk 22 per kg unchanged from the previous week. Prices of bitter gourd maintained its previous high at Tk 34-Tk 36 per kg. A small piece of cabbage and cauliflower was selling at Tk 15-Tk 20, traders said.
Traders said the newly arrived winter vegetable items like red amaranth and gourds were selling at higher prices in the city markets over the last week.
Prices of fine variety of lentil remained unchanged at Tk 76-Tk 80 per kg and its Turkish variety at Tk 64-Tk 66 per kg. Prices of 'moong' pulse remained unchanged at Tk 76-Tk 78 per kg, traders said.
Eggs were selling at Tk 60 per dozen, unchanged from the previous week at the retail level. During the last week price of ginger remained unchanged at Tk 46-Tk 50 per kg.
During the last week at the retail level prices of one kilogram (kg) of packaged coarse flour remained unchanged at Tk 35 per kg.
In the last week, prices of poultry birds remained unchanged at Tk 90-Tk 100 per kg and beef at Tk 180 per kg. In the last week, prices of a medium-size hilsa fish remained unchanged at Tk 250-Tk 300.
Mutton was selling at Tk 220-Tk 230 per kg, unchanged from the previous week. Traders said prices of refined salt remained unchanged at Tk 16 per kg.
Prices of rice, onion, edible oil and newly arrived vegetable items increased and the prices of other essential commodities remained unchanged in the city markets over the past week.
Market operators said prices of rice and onion registered a significant rise in Bangladesh mainly due to an embargo in export of some essential commodities by Indian government recently.
"Moreover, this is the lean season for both rice and onion for Bangladeshi market," admitted both rice and onion importers separately.
Talking to the FE a wholesale rice trader at the city's Badamtali wholesale rice market said the traders do not feel encouraged to import rice from other countries due to higher transport and other costs.
As a result, a gap has already been created in supply and demand of rice in the lean season of paddy, he said.
"But, the prices of rice will come down within one month on the onset of harvesting of Aman paddy," he said.
During the last week, at the wholesale level, Minicate variety of rice was selling at Tk 1140 per maund (37.50 kg) in comparison to its previous rate at Tk 1080 per maund one month ago. Nazirshail variety of rice was selling at Tk 1300 per maund compared with its previous rate at Tk 1250 per maund, Indian Swarna at Tk 860 per maund compared with its previous rate at Tk 830 per maund, BRRI at Tk 820 per maund compared with its previous rate at Tk 760 per maund and Lata variety of rice at Tk 900 per maund compared with its previous rate at Tk 850 per maund.
Traders said the supply of Paari variety of rice has already come to an end as this item is widely consumed in Bangladesh. Most of the supply of Paari rice in Bangladesh comes from India, traders said.
At the retail level, prices of coarse variety of rice were Tk 24-Tk 25 and finer variety of rice ranged between Tk 30 and Tk 34 per kg, traders said.
Over the past week, at the retail level onion was selling at Tk 54-Tk 60 per kg compared with its previous rates at Tk 40-Tk 42 per kg, traders said.
Traders said during the last week prices of edible oil registered a further increase mainly due to price hike of the item in the international market, traders said.
Over the past week, at the wholesale level soybean oil was selling at Tk 3100-Tk 3120 per maund compared with its previous rates at Tk 2940-Tk 2950 per maund, super palm oil at Tk 2940-Tk 2950 per maund compared with its previous rates at Tk 2820-Tk 2830 per maund and the palm oil at Tk 2850 per maund compared with its previous rates at Tk 2760-Tk 2780 per maund.
In the international level crude soybean oil was selling at US$ 1015 per tonne compared with its previous rate at $1000 per tonne while the crude palm oil was selling at 2840 Malaysian ringgit, the local importers said.
At the retail level, prices of canned edible oil of different brands of five litres remained unchanged at Tk 400-Tk 410 compared with its previous rates at Tk 395-Tk 400.
During the last week at the wholesale level prices of sugar also increased to some extent. At the wholesale level, sugar was selling at Tk 1060-Tk 1080 per maund compared with its previous rates at Tk 1020-Tk 1025 per maund.
At the retail level sugar was selling at Tk 30-Tk 32 per kg compared with its previous rates at Tk 28-Tk 30 per kg.
During the last week brinjal was selling at Tk 36-Tk 40 per kg. During the last week prices of green chilli remained unchanged at Tk 80-Tk 100 per kg.
Potato was selling at Tk 21-Tk 22 per kg unchanged from the previous week. Prices of bitter gourd maintained its previous high at Tk 34-Tk 36 per kg. A small piece of cabbage and cauliflower was selling at Tk 15-Tk 20, traders said.
Traders said the newly arrived winter vegetable items like red amaranth and gourds were selling at higher prices in the city markets over the last week.
Prices of fine variety of lentil remained unchanged at Tk 76-Tk 80 per kg and its Turkish variety at Tk 64-Tk 66 per kg. Prices of 'moong' pulse remained unchanged at Tk 76-Tk 78 per kg, traders said.
Eggs were selling at Tk 60 per dozen, unchanged from the previous week at the retail level. During the last week price of ginger remained unchanged at Tk 46-Tk 50 per kg.
During the last week at the retail level prices of one kilogram (kg) of packaged coarse flour remained unchanged at Tk 35 per kg.
In the last week, prices of poultry birds remained unchanged at Tk 90-Tk 100 per kg and beef at Tk 180 per kg. In the last week, prices of a medium-size hilsa fish remained unchanged at Tk 250-Tk 300.
Mutton was selling at Tk 220-Tk 230 per kg, unchanged from the previous week. Traders said prices of refined salt remained unchanged at Tk 16 per kg.