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The Financial Express

Prices of essential spices jump

| Updated: October 29, 2018 11:00:30


Focus Bangla File Photo Focus Bangla File Photo

Some essential spices became pricier this week, burning a hole in the pockets of consumers.

Also, prices of early winter vegetables still remain high despite increasing supply, according to kitchen market sources.

Garlic, ginger and onion saw a price surge in the last seven days, which traders attributed to the rise in import costs.

Experts, however, blamed the market syndication for such a big price hike.

Ginger, both local and imported varieties, was selling at Tk 150-Tk 180 a kg on Friday, registering a 45-48 per cent hike in a week.

Garlic of imported variety was trading at Tk 90-Tk 120 a kg and the local variety at Tk 60-Tk 80 a kg, marking a 30-35 per cent rise in a week, according to the state-run Trading Corporation of Bangladesh (TCB).

Onion of both local and imported varieties increased by Tk 3.0-Tk 5.0 a kg in last one and a half weeks.

Prices of local onion ranged between Tk 48 and Tk 60 a kg while the imported variety between Tk 32 and Tk 40 a kg in different city markets.

Md Fahim Hossain, manager at 'Daily Shop' chain at Shankar, West Dhanmondi, told the FE that prices of spices like garlic and ginger witnessed a sharp jump in the last ten days at the wholesale level.

Prices have surged at both the district and Dhaka wholesale level, he said.

"We bought Chinese ginger at Tk 162 a kg from Shyambazar on Thursday, up from Tk 128-Tk 130 just a week ago," said Fahim.

Garlic prices also witnessed a hike of Tk 14-Tk 18 per kg during the period, he added.

He feared that prices might go up further until the beginning of the garlic harvest.

Onion prices, however, saw a marginal hike, he said.

"We are still selling local onion at the previous rate -- Tk 48-Tk 50 a kg -- thanks to our old stocks," he said.

Asked, Shyambazar-based importer Haji Jamal Uddin said the import costs of both ginger and garlic are on the rise.

He said production of local ginger dropped notably in the last season due to untimely rain.

He, however, expressed the hope that prices of tuber spice might decline at the beginning of local harvest next month.

He also pointed out that local garlic is much cheaper now, compared with the price a year ago.

About onion, he said the prices would remain stable for a few more weeks because of low import cost and better local production.

When contacted, Consumers Association of Bangladesh (CAB) secretary Humayun Kabir Bhuiyan said traders appear to be in a hurry to raise prices.

He said the import costs of ginger have started increasing this month to some extent while the spices now being available in the market were sourced two or three months back at a low cost.

He said the imported ginger, priced at Tk 80 a kg in August, is now being traded at Tk 140-Tk 160 a kg at Shyambazar and Karwan Bazar wholesale markets.

Garlic, imported at a cost of Tk 38-Tk 50 a kg, now being sold at Tk 80-Tk 100 a kg, he added.

He urged the government to ensure strict monitoring to keep the prices of essentials within the reach of commoners.

Meanwhile, the supply of winter vegetables, including cauliflower, cabbage, carrot, radish, long bean, local bean, coriander leaf, spinach, radish leaf and mustard leaf, increased significantly last week.

But prices still remained high as small-sized cauliflower and cabbage were selling at Tk 40-Tk 60 per piece.

Other winter vegetables are being sold between Tk 60 and Tk 100 a kg.

Leafy vegetables were selling at Tk 15-Tk 20 a bunch while coriander leaf is priced at Tk 170-Tk 200 a kg.

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