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The Financial Express

Beef hits Tk 700 a kilogram in Bangladesh market

| Updated: March 28, 2022 13:49:00


Beef hits Tk 700 a kilogram in Bangladesh market

Beef and potato have become pricier in the past one week, further battering the consumers who are already hit hard by the spiralling prices of other essentials.

The price of beef reached Tk 650-700 a kg in Dhaka city last week, marking a new record in value.

It is the third time in five weeks that red meat witnessed a hike in price as it was Tk 560-600 in mid-February, according to insiders.

The state-run Trading Corporation of Bangladesh has recorded a 7.0-per cent hike in beef prices in a week while it is above 17 per cent in a month.

Forkanul Hoque, a beef shop owner at Rayerbazar, says the price of an ox weighing 150 kg has jumped to nearly Tk 95,000 as against Tk 75,000 at best a month back.

Transaction has declined notably due to such high prices as middle-income people are buying in fewer amounts, he adds.

Mr Hoque further says supply of Indian cows from frontier areas has declined notably in the past two months which caused a hike in animal prices.

Dhaka Metropolitan Meat Merchants' Association secretary general Rabiul Alam says beef prices rose due mainly to some 35-per cent hike in animal feed prices and higher transport costs for diesel price hike.

Cattle rearers and seasonal traders are also releasing animals in lesser numbers with intent to make more profits during the holy month of Ramadan, he adds.

"But I don't think traders could do business if such higher rate continues as most of the consumers would curtail their purchase," according to Mr Alam.

On the other hand, cheaper potato has started to become dearer as its price further increased by Tk 4.0-5.0 a kg to Tk 25-26.

Abdul Kader Bappy, a grocer across Zakir Hossain Road in Mohammadpur neighbourhood, says wholesale prices rose to Tk 20-21 a kg last week from Tk 15-16 earlier.

"Potato price may rise at retail level as it has increased notably this late harvest season when traders usually preserve it in cold storage," says Imrul Hasan Limon, a vegetable trader at Sadeq Khan Agricultural Market in Rayerbazar-Beribandh area.

Consumers Association of Bangladesh vice-president SM Nazer Hossain says beef is no more meat for the poor while they are also struggling to buy white meat like broiler and egg amid a spiralling price trend.

He suggests that the state agency concerned strictly monitor such essentials to keep prices within the reach of most people to prevent their protein deficiency.

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