Despite several measures taken by the government, prices of essentials have started increasing sharply in the market ahead of the holy month of Ramadan, according to key kitchen markets.
With Ramadan nearing, prices of chickpea (gram) and few other pulses varieties, onion and date are rising despite having a good stock and low import costs.
Prices of essentials are shooting up at a time when the government has directed the market monitoring teams to be alert and gear up their activities during Ramadan.
The government formed the teams last year to help control the prices of essential commodities in the capital city. Each team was comprised of nine members drawn from different ministries, government agencies and business associations, according to the ministry of commerce (MoC).
The latest directives came at a meeting held at the MoC on Sunday.
Nazneen Begum, Additional Secretary (import) of the MoC, told the FE that they were reviewing the activities of the market monitoring teams.
However, price of chickpea (gram), a widely-consumed commodity during the fasting month, increased by up to 23 per cent in the past two weeks, officials and traders said.
Prices of gram of various qualities increased to Tk 62-68 per kg from Tk 46-55 per kg ten days back, according to city's key kitchen markets.
Md Altaf Hossain, a grocer at Banalata Kitchen Market in Newmarket area, said chickpea of good quality was selling at Tk 2,400-2,425 per maund (37.32 kgs) at Moulvibazar wholesale market, up from Tk 1,860-1,880 per maund two weeks back.
He said small-sized chickpea was selling at Tk 2,160-2,200 per maund - up by Tk 300-350 per maund during the period.
Mr Hossain said: "Wholesalers and retailers are busy stockpiling items like chickpea, lentils, anchor and split pulses, onion, ginger, garlic, date and other commodities to make more profits in Ramadan set to begin from mid-June."
According to retail and wholesale markets, prices of other varieties of pulses went up by Tk 6-10 per kg while those of different varieties of date by Tk 40-60 per kg in last two weeks.
When contacted, Haji Mohammad Shafi, president of Moulvibazar Dal Baboshayee Samity, an association of pulses traders, said the importers in Chittagong increased chickpea price to some extent.
At wholesale level in Moulvibazar, he said, price of gram shot up by Tk 50-60 per maund in a month.
Mr Shafi alleged that grocers and small traders were hoarding a large quantity of gram with an aim to earn more profits in Ramadan.
However, onion prices are also showing volatility. Onion prices increased by Tk 6-8 per kg at wholesales while by Tk 8-12 per kg at retails comparing to the prices in last two and half weeks despite good local production and lower import costs.
Price of local variety onion was selling at Tk 30-32 per kg two weeks back which hit Tk 48-50 per kg last week and again eased down to Tk 44-46 per kg recently, said Md Shafiq, a retailer at Nowabganj Bazar.
He said prices of ginger, garlic, turmeric and other spices shot up by Tk 20-40 per kg.
Consumers Association of Bangladesh (CAB) Secretary Advocate Humayun Kabir Bhuiyan said import cost of gram has increased slightly, but it is still Tk 46-47 per kg.
He said import cost of best quality onion from India is not more than Tk 24-25 per kg while local production is going to surpass 1.65 million tonnes this year.
Mr Bhuiyan said: "We have read the government's monitoring activities only in newspapers as we didn't see any reflections of the drives in kitchen markets."
Prices of fish, meat and egg increased significantly in last five months, he said. "The government should take measures immediately so that the prices of essentials may not rise further."
MoC joint secretary Md Sadar Ali Biswas, also coordinator of the market monitoring teams, told the FE that the teams are active to prevent price volatility.
He said efforts are on to intensify the operation aiming to keep the prices reasonable not only in Ramadan, but also all the year round.
However, Trading Corporation of Bangladesh Chairman Sarwar Jahan Talukdar told the FE that TCB will sell five essentials including chickpea, date, lentils, soybean and sugar in Ramadan with a view to keeping the prices within the buying capacity of fixed income people.
When asked, he said the volume of chickpea will remain the same as that of last year.
TCB sold 1,500 tonnes of chickpea last year through 174 OMS (open market sale) trucks in the country.
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