FE Report
Sugar and vegetables became pricier, as prices of essentials showed an increase across the week.
Sugar prices increased to Tk 60-Tk 62 a kg on Thursday from Tk 54-Tk 58 a kg in the past week.
The state-run Trading Corporation of Bangladesh (TCB) recorded nearly a 6.5 per cent hike in sugar a week.
Wholesale prices increased by Tk 2.0-Tk 3.0 a kg at Khatunganj in Chittagong and Maulovibazar and Karwan Bazar in the city in the last one and a half weeks.
Terming the spike abnormal, experts said prices of the essential commodity were declining in the last few months.
Humayun Kabir Bhuiyan, secretary of Consumers Association of Bangladesh (CAB), said sugar prices declined to US $ 300 a tonne in January-February from $330-$340 in October-November.
He said the CAB's market survey showed the production cost of sugar at the refiners' end could be maximum Tk 40 a kg including import duties.
But refiners are selling the product at Tk 48-Tk 52 a kg.
He urged the government to take immediate action before the month of Ramadan as big players might raise prices further during the fasting month when demand jumps.
Bangladesh consumes more than 1.65 million tonnes of sugar annually, of which only 0.06 million tonnes are produced and the country needs to import the rest, according to the commerce ministry.
Prices of early summer vegetables, which showed a slight decline earlier, also increased further by Tk 10-Tk 15 a kg last week.
Snake gourds, bitter gourds and pointed gourds sold at Tk 60-Tk 90 a kg.
Cauliflower and cabbage also showed a hike by Tk 5.0 per piece in a week.
Md Mursalin Hoque, a vegetable wholesaler at Sadek Khan Krishi Market at Rayer Bazar area in the city, told the FE that prices of early summer vegetables will remain high during this month amid low supply.
He said prices of winter vegetables will also be increasing from March as it is a 'transitional month' for crops.
Summer items will be cheaper from April if the weather condition remains favourabale, he said.
Prices of onion, however, showed a Tk 5.0 a kg decline in the last seven days as the local variety sold at Tk 50-Tk 55 and imported ones at Tk 45-Tk 50 a kg.
[email protected]
