Spice prices sharply rise in local markets
Sunday, 11 July 2010
Monira Munni
Prices of spices have sharply increased in the local markets due to high import costs, traders said Saturday.
Spices have become dearer also as because demand is gradually going up before the onset of Ramadan, market sources said adding that some items such as cardamom, cinnamon and cumin seeds have been on an upward trend for last few weeks.
"Since the weather condition of Bangladesh is not suitable for spice cultivation, the country is totally dependent on import of the items," Moulvi Bazar Malik Samity President Abdul Enayet Ullah told the FE.
The recent increase in import duty and the freight charges have pushed up the prices of spices in the local markets, he added.
Different varieties of spices are mainly imported from China, Pakistan, India, Guatemala, Iran, Syria, Turkey, Vietnam and Zanzibar, he said.
The traders blamed wholesalers for the increase saying this has become a common trend before Ramadan and Eid every year as the consumption of the spices goes up during this time.
"At the wholesale level, cardamom was selling at Tk 2600 per kg up from Tk 2300 per kg two weeks ago," Ratan, a wholesaler at city's Kawran Bazar said.
He said cinnamon was selling at Tk 240 per kg against Tk 200 per kg, cumin seeds at Tk 350 per kg up from Tk 300 per kg.
Cardamom, cinnamon and cumin seeds sold at Tk 1400, Tk 180 and Tk 300 per kg respectively last year at the same time, he added.
At the retail level, some major spice items, including cardamom was selling at Tk 3000 per kg, cinnamon at Tk 300 per kg, cumin seeds at Tk 400 per kg and cloves at Tk 700- Tk 800 per kg, traders said.
Market operators said prices of locally produced spices including onion, garlic, ginger, turmeric and chilis have also gone up to some extent.
Now a kilo of local onion is selling between Tk 28 and Tk 30 per kg while imported Indian onion between Tk 25 - Tk 26 per kg in the retail markets.
Garlic was selling between Tk 120 to Tk 140 per kg while ginger was selling at Tk 110 per kg.
Prices of spices have sharply increased in the local markets due to high import costs, traders said Saturday.
Spices have become dearer also as because demand is gradually going up before the onset of Ramadan, market sources said adding that some items such as cardamom, cinnamon and cumin seeds have been on an upward trend for last few weeks.
"Since the weather condition of Bangladesh is not suitable for spice cultivation, the country is totally dependent on import of the items," Moulvi Bazar Malik Samity President Abdul Enayet Ullah told the FE.
The recent increase in import duty and the freight charges have pushed up the prices of spices in the local markets, he added.
Different varieties of spices are mainly imported from China, Pakistan, India, Guatemala, Iran, Syria, Turkey, Vietnam and Zanzibar, he said.
The traders blamed wholesalers for the increase saying this has become a common trend before Ramadan and Eid every year as the consumption of the spices goes up during this time.
"At the wholesale level, cardamom was selling at Tk 2600 per kg up from Tk 2300 per kg two weeks ago," Ratan, a wholesaler at city's Kawran Bazar said.
He said cinnamon was selling at Tk 240 per kg against Tk 200 per kg, cumin seeds at Tk 350 per kg up from Tk 300 per kg.
Cardamom, cinnamon and cumin seeds sold at Tk 1400, Tk 180 and Tk 300 per kg respectively last year at the same time, he added.
At the retail level, some major spice items, including cardamom was selling at Tk 3000 per kg, cinnamon at Tk 300 per kg, cumin seeds at Tk 400 per kg and cloves at Tk 700- Tk 800 per kg, traders said.
Market operators said prices of locally produced spices including onion, garlic, ginger, turmeric and chilis have also gone up to some extent.
Now a kilo of local onion is selling between Tk 28 and Tk 30 per kg while imported Indian onion between Tk 25 - Tk 26 per kg in the retail markets.
Garlic was selling between Tk 120 to Tk 140 per kg while ginger was selling at Tk 110 per kg.