Rice prices maintain downward trend in Ctg wholesale markets

NN ONLINE:

After three months of price volatility, rice prices in major wholesale markets in Chattogram have started declining by Taka 5-Taka 8 per kilogram.

During a visit to prime wholesale markets in the port city that including Ckatai Chapatti, Khatunganj and Pahartali, it was found that prices of both coarse and fine varieties of rice have dropped by Taka 5 to Taka 8 per kg, thanks to government’s time-befitting measures including massive import from Myanmar, Pakistan and Vietnam and also from India, continuing OMS by TCB and partly dismantling the unscrupulous syndicate of rice hoarders and millers.

Traders report that the recent approval of rice imports from India through land ports has caused an oversupply in the market, leading to a decrease in prices. Prices for four types of rice have dropped by Tk 5 to Tk 8 per kg.

According to official sources, rice stock has reached approximately 19.81 lakh tonnes in first quarter of August, which is surpassing the earlier records. However, total stock of food grains is registered around 21.54 lakh tonnes more than adequate for buffer stock.

Market sources said Amon crop damage, unusual hoarding, sluggish import and flood related supply chain disruption led to a significant rise in prices of the staple grain in early 2025 that continued up to July last.

Traders expect rice prices to remain stable due to the market’s recent stability. Although prices had been increasing since mid-June, there was rampant price spiral in the Chattogram wholesale market by the end of July.

During the recent period, rice prices fluctuated, with some varieties increasing by Tk 2 to 8 per kg before dropping by Tk 5 to Tk 8 per kg. Currently, Jirashail is being sold at Tk 71 per kg, Guti Swarna at Tk 54 per kg, and Katari Atap at Tk 77 per kg in the wholesale market. Betti Atap has decreased to Tk 52 per kg registering, a drop of Tk 4 per kg. Nazirshail Miniket is selling at Tk 57 per kg, Mota (Coarse) boiled rice at Tk 49 per kg, and Nurjahan Swarna at Tk 56 per kg at the wholesale level.

SM Nizam Uddin, former general secretary of Pahartali Banik Samiti, indirectly blamed North Bengal based millers for manipulating rice prices.

However, prices have started to fall following a rise in supply in both wholesale and retail markets. Resuming rice import from India from mid-August, which had stopped in mid-April, has contributed largely in having a positive impact in the rice price.

Large and medium level wholesales in Khatungonj, Kazir Dewri and Momin Road areas here have lowered the price of per 50 kg sacks of coarse, medium and fine quality rice by Tk 200 to Tk 300.

Miniket rice prices have dropped by Tk 5 to Tk 8 per kg, now ranging from Tk 75 to Tk 80. Atash Balam is selling at Tk 65 to Tk 68, Swarna Mota (Coarse) at Tk 50 to Tk 56, Nazirshail at Tk 80 to Tk 85, Basmati at Tk 95 to Tk 100 and Cini Gura category fine rice is being sold at over Tk 100 per kg.

But there was no significant impact of the price fall in wholesale market in retail markets as all varieties of rice are being sold at high prices as of June-July. In the retail market, Miniket is being sold at Tk 78 to Tk 85, Atash Balam at Tk 70 to Tk 75, Nazirshail at Tk 85 to Tk 90 , Swarna Mota (Coarse ) at Tk 55 to Tk 60, Paijam at Tk 62 to Tk 65, Asmati at Tk 95 to Tk 120 , and per kg packet of Cini Gura is being sold at Tk 130 to Tk 150.

The Deputy Director of the Chattogram Department of Consumer Rights Protection, Mohammad Faiz Ullah, stated that authorities are monitoring the market and will take legal action against unreasonable prices at the retail level.

Wholesaler Nur Hossain Sawdagor pointed out that delay in rice import in mid-April was one of the main reasons in price spiral but as soon the imported food grains are started reaching the market, the price will definitely be dropped both at wholesale and retail levels.

SM Nazer Hossain, Vice President of the Central Committee of the Consumers Association of Bangladesh (CAB), expressed concern over the instability and recent price hike in the rice market. He emphasized the need for taking timely measures to keep the market price of this staple food gain under tolerable level and called for stronger market supervision to prevent further price increases.