Turmeric price takes a leap ahead of Eid
Thursday, 11 November 2010
Jasim Uddin Haroon
A housewife at Gopibagh area was shocked at the price when she went to a nearby grocer to buy one kilogramme (kg) of turmeric. The price was as high as Tk 350 a kg.
"I was just taken aback. I've never experienced such a high price for an item like turmeric," she said.
Last month, Shefali Rani (46) purchased turmeric from the same store at Tk 240. The price went up 40 per cent in less than a month. "How can we lead a life?" she asked.
The retail prices of turmeric ranged Wednesday between Tk 330 and Tk 350 a kg. Powdered turmeric prices varied between Tk 450 and Tk 460 a kg.
The wholesale prices of the kitchen item were traded at Tk 275 a kg at Khatoonganj and the city's Moulvibazar market.
"It's really surprising that the prices of turmeric are rising leaps and bounds," said Mosharraf Hossain Mintu, a wholesaler at Khatoonganj told the FE over phone.
He predicted that the prices might reach as high as Tk 400 shortly in the retail market.
Retailers alleged importers are raising the prices of turmeric to cash in on its rising demand ahead of the Eid-ul-Azha.
But wholesalers claimed prices are rising, mainly due to the production shortage in India, a major producing nation.
Tamil Nadu and other major growing states of India faced floods and crop-related diseases last year leading to the loss of crop item.
India, the world's largest producer and supplier of turmeric, exported more than 50,000 tonnes in 2009-10. Bangladesh, Malaysia, and United Arab Emirates are the main buyers of Indian turmeric.
Bangladesh produces nearly 20 per cent of its total demand and the rest is imported.
A senior importer at Moulvibazar told the FE: "The prices of turmeric stood Indian rupees 14000 a tonne, it was hardly 5200 a tonnes in 2009."
Md Shafi, joint secretary of the city's Banolata market, told the FE: "I think price hike of turmeric in the international market and big buys by local spices companies who sell powdered turmeric also responsible for such big jump in the prices."
A housewife at Gopibagh area was shocked at the price when she went to a nearby grocer to buy one kilogramme (kg) of turmeric. The price was as high as Tk 350 a kg.
"I was just taken aback. I've never experienced such a high price for an item like turmeric," she said.
Last month, Shefali Rani (46) purchased turmeric from the same store at Tk 240. The price went up 40 per cent in less than a month. "How can we lead a life?" she asked.
The retail prices of turmeric ranged Wednesday between Tk 330 and Tk 350 a kg. Powdered turmeric prices varied between Tk 450 and Tk 460 a kg.
The wholesale prices of the kitchen item were traded at Tk 275 a kg at Khatoonganj and the city's Moulvibazar market.
"It's really surprising that the prices of turmeric are rising leaps and bounds," said Mosharraf Hossain Mintu, a wholesaler at Khatoonganj told the FE over phone.
He predicted that the prices might reach as high as Tk 400 shortly in the retail market.
Retailers alleged importers are raising the prices of turmeric to cash in on its rising demand ahead of the Eid-ul-Azha.
But wholesalers claimed prices are rising, mainly due to the production shortage in India, a major producing nation.
Tamil Nadu and other major growing states of India faced floods and crop-related diseases last year leading to the loss of crop item.
India, the world's largest producer and supplier of turmeric, exported more than 50,000 tonnes in 2009-10. Bangladesh, Malaysia, and United Arab Emirates are the main buyers of Indian turmeric.
Bangladesh produces nearly 20 per cent of its total demand and the rest is imported.
A senior importer at Moulvibazar told the FE: "The prices of turmeric stood Indian rupees 14000 a tonne, it was hardly 5200 a tonnes in 2009."
Md Shafi, joint secretary of the city's Banolata market, told the FE: "I think price hike of turmeric in the international market and big buys by local spices companies who sell powdered turmeric also responsible for such big jump in the prices."