Abu Jakir :
For weeks, rice prices in Bangladesh have been on a relentless climb, with nearly all varieties experiencing significant hikes. Despite government measures like tax exemptions, prices have continued to rise, leaving consumers grappling with the higher cost of this daily staple.
A survey conducted by the New Nation Correspondent recently in Dhaka’s Mirpur-11, Pallabi Muslim Bazaar, and the markets in sectors 6 and 12 highlighted the strain on buyers. The price of Miniket rice, for instance, has jumped by BDT 10 per kilogram in just two weeks, climbing from BDT 75 to BDT 85 per kg. Similarly, Nazirshail rice now costs BDT 80-86 per kg, up from BDT 70-78.
Other varieties have also seen a sharp rise: Coarse rice: Tk 58-60 per kg, Medium-grain rice: Tk 68-72 per kg, Fine-grain rice: Tk 80-95 per kg.
Wholesale traders report similar trends. Grocers in Farmgate note that wholesale prices have increased by Tk 100-150 per 50kg sack within a week and Tk 300 over the past two weeks.
Reasons behind the price hike
According to the Department of Agricultural Extension (DAE), the Aman paddy harvest is nearly complete, with 95% collected by January 2. However, this seasonal abundance has not translated into price relief.
Rice traders attribute the surge to millers. Md. Masud, a trader at Mirpur-11, criticized millers for raising prices unnecessarily, saying, “Despite the Aman harvest and rice imports from India, prices remain high due to unjustified price hikes by millers, likely in anticipation of Ramadan. Strict monitoring is essential.”
Kawsar Mia, another trader in Mirpur-6, pointed out that newly harvested paddy entering the market has not curbed the price hike, as millers exploit rising paddy costs to destabilize the market.
Market observers agree. HR Khan Pathan, Secretary of the Bangladesh Auto Major and Husking Mill Owners Association, revealed that big millers in major hubs like Naogaon, Dinajpur, and Jashore stockpiled paddy in November-December, citing concerns over reduced production from last year’s floods.
Paddy prices, such as Guti Swarna, have surged from Tk 1,250-1,300 per maund at the season’s start to at least Tk 1,500 per maund now.
Calls for Government Action
The Consumers Association of Bangladesh (CAB) Vice President, SM Nazer Hossain, criticized millers for “capturing the market” and urged immediate action from the government. He called on the agriculture, commerce, food, and home ministries to crack down on unscrupulous practices by millers and stabilize prices.
Hossain also emphasized the need to sustain government programs that provide affordable rice to 40 million poor people. “The food and commerce ministries must continue their operations to ensure rice accessibility for the most vulnerable,” he said.
A Growing Concern for Consumers
With Ramadan approaching and no immediate solutions in sight, the rising cost of rice has left many households struggling. Buyers are demanding stronger regulatory measures to ensure fair pricing and curb the unchecked power of millers over the market.
The government faces mounting pressure to act swiftly, balancing the interests of consumers and traders while navigating the complexities of supply and demand in the rice market.
