Commodity prices rise ahead of Ramadan
Staff Reporter :
With only a week until the holy month of Ramadan, shoppers are fervently purchasing essential items for fasting, but are met with soaring market prices.
Chicken, sugar, and chickpeas have seen notable price hikes, and even though vegetable prices were somewhat lower just a week ago, those commonly used in iftar preparations are now becoming more expensive.
The delay in the arrival of one and two-litre bottles of soybean oil priced according to the new rates forces consumers to pay more than the government-set prices.
In discussions with various market stakeholders in the capital’s areas like Moulvibazar, Rahmatganj, Palashi, New Market Kitchen Market, Hatirpool and Kathalbagan, it was revealed that the price of sugar has surged by approximately 2 taka wholesale and 5 taka retail following a warehouse fire in Chattogram.
Despite this, there isn’t expected to be a significant sugar shortage, according to local business owners.
Furthermore, the prices of chickpeas and various lentils have also risen, attributed to the high dollar costs impacting imports, although wholesalers claim there has been no recent increase in these prices. Retailers, however, seem to be increasing prices in anticipation of Ramadan.
This has caused concern among consumers as essential iftar and sehri items are being sold at much higher prices, with chicken prices jumping by Tk 20 per kg in just a week.
The Bangladesh Poultry Association acknowledges the rise in chicken prices, a pattern also observed last Ramadan, but notes a lack of government action on the matter.
BPA president Suman Hawladar said the price of chicks started rising some one and a month ago. Therefore, it was assumed that the price of chicken would also increase ahead of Ramadan.
Consumers, feeling the pressure of rising meat prices, call for stricter market control.
While rice and flour prices remain stable, dates are pricier than in previous years, and the costs of fish, beef, and mutton have largely stayed the same. However, after the decision to import onions, their prices have slightly decreased.
Other vegetable prices, especially those crucial for iftar, are climbing, with notable increases in the prices of eggplants, potatoes, green chillies, and lemons.
The Consumer Association of Bangladesh emphasizes the need for direct government intervention in the market and criticizes the lack of competition, suggesting that greater competition could enable the public to benefit more from government initiatives like tariff reductions and market raids.
Consumers Association Bangladesh (CAB) president Golam Rahman said, “The government needed to intervene directly in the market.
However, that has not been the case. Besides, there is a lack of competition in the market.
People could get the benefit of different government initiatives like reducing tariff and conducting drives at the markets, had there been competition in the market.”
