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The Financial Express

City markets see further hike in rice, oil prices

| Updated: July 10, 2021 13:23:50


As the news of a TCB truck's arrival gets around, women rush towards the sales point to buy essential items at subsidised prices. The photo was taken in Mohammadpur bus stand area in the city on Thursday — FE photo by KAZ Sumon As the news of a TCB truck's arrival gets around, women rush towards the sales point to buy essential items at subsidised prices. The photo was taken in Mohammadpur bus stand area in the city on Thursday — FE photo by KAZ Sumon

The prices of rice and cooking oil increased further in the city retail markets last week, adding to the woes of the people during the pandemic.

Common coarse, medium quality and finer varieties of rice increased by Tk 2.0-Tk 3.0 per kilogram (kg) in a week, according to trading sources.

The price of coarse rice went up to Tk 50-52 a kg, medium variety to Tk 55-60, and common finer varieties to Tk 65-75 a kg.

The Trading Corporation of Bangladesh (TCB) recorded a 4.5-6.0 per cent further hike in coarse and finer rice prices in a week.

Bashir Ahmed, a wholesaler based in Mohammadpur Agricultural Market (Krishi Market), said prices started to increase in the milling hubs before the beginning of the strict lockdown across the country on July 1.

He said prices of most of the varieties had increased by Tk100-150 per 50kg sack in the last one and a half weeks.

Anowar Hossain, a Nilphamari-based trader, said paddy prices increased notably by Tk 100-150 a maund or 40 kg in the last two weeks as both the millers and the government were hunting for the grain for storage.

He said prices of hybrid paddy had increased to Tk 920-940 a maund, while BRRI dhan 28 to Tk 1,100-1,140 a maund and Miniket/Zira to Tk 1,250-1,300 a maund.

The prices of rice and paddy might rise further in coming days if import doesn't resume, said Mr Hossain.

The current rice prices are 10-13 per cent higher compared to last year, said TCB.

Meanwhile, the government and the private sector imported a record 1.35 million tonnes of rice in the January-June period of this year.

The public warehouses also have a good stock of 1.15 million tonnes of rice now while the government is expecting a bumper 20.5 million tonnes of rice output in the just ended Boro harvesting season, according to the agriculture ministry.

Price of bottled soybean oil reached a maximum Tk 164 a litre as many refiners started selling 500 millilitre (ml) of the oil at Tk 82 a bottle, said grocers.

However, new soybean bottles with Tk 153 a litre tag entered the groceries last week.

Earlier, the price was Tk 145-150 a litre, according to TCB.

Five-litre soybean bottles were selling at Tk 720-730 from Tk 690-720 a week back.

However, loose soybean and super palm oil were almost static at Tk 124-126 a litre and Tk 112-116 a litre, respectively.

Loose mustard oil price increased by Tk 30- 40 a litre as was sold at Tk 190-225 a litre depending on quality.

Branded mustard oil was still static at Tk 240-260 a litre at the retail level.

Meanwhile, garlic and ginger also became pricier last week.

Both imported and local ginger prices increased further by Tk 20-30 a kg as were sold at Tk 160-200 a kg on Thursday.

Local garlic remained static at Tk 90-110 a kg but imported Chinese garlic prices shot up to Tk 150-180 - Tk 30-40 a kg hike in a week.

Vegetable, meat, fish and other essential prices remained static last week maintaining their previous highs, according to market sources.

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