Commodity prices keep rising

Prices of rice, flour, onion, powder milk and spices showed an increasing trend this year compared with those a year ago, according to the prices quoted in the market data of the Trading Corporation of Bangladesh (TCB).

Prices of all types of rice have risen by around 21 to 30 per cent in the past week of this year compare to the same period of the last year, according to data available with TCB.

Compared to last year, per kg of coarse rice has risen in price by Tk 8 to Tk 9. TCB data shows that the retail price of coarse rice was between Tk 44 and Tk 46 per kg, while it was Tk 35 to Tk 38 a year ago.

The data showed that the premium variety of Nazirshail and Miniket was sold at Tk 64 to Tk 68 per kg in different markets of the capital in the past week of this year, while it was sold at Tk 48 to Tk 56 per kg a year ago.

 Nazirshail and Miniket (ordinary quality) was sold at Tk 58 to Tk 62 per kg in different markets of the capital in the past week of this year, while it was sold at Tk 44 to Tk 48 per kg a year ago.

Weak public reserves, massive damage to paddy crops during the Boro season, floods that hit Aman cultivation, plus a lacklustre attempt to procure rice from the international market worsened the situation.

In January 2017, flour was sold at Tk 24 to Tk 32 per kg. Now it is being sold at Tk 28 to Tk 35 per kg (lose) and Tk 32 to Tk 35 per kg (packed).

The price of onion has increased abnormally in the last one year -- by 180 to 190 per cent. At the beginning of 2017, the local variety of onion was sold at Tk 20 to Tk 30 per kg, while it was sold at Tk 60 to Tk 80 per kg in the retail market in the last week of current year. On the other hand, the imported variety is being sold at Tk 60 to Tk 70 per kg, while it was sold at Tk 20 to Tk 25 in January last year, according to TCB.

Regarding the high price of onion, AHM Mustfa Kamal jokingly said that there is explosive material in onion, so people should take less of the item to save themselves from explosion and also save money.  

Onion is the latest item taking away a large slice of the budget for grocery items, particularly of low-income families who have already been experiencing squeezing of their purchasing capacity for the high prices of rice and vegetables. Very few vegetable items are now available in the markets at below Tk 50 per kg.

 The price of a kg of green chillies has come down to Tk 50 per kg from Tk 150 to Tk 200. It was Tk 40 per kg in January 2017.

 The price of garlic increased in the middle of the year and fell significantly in December. The price dropped by around 56 per cent in January this year, compared to January 2017.

 Besides, prices of vegetables are still high, despite winter vegetables being available in the kitchen markets. Vendors claimed that supply is not enough compared to last year.

 

Commodity prices keep rising

Prices of rice, flour, onion, powder milk and spices showed an increasing trend this year compared with those a year ago, according to the prices quoted in the market data of the Trading Corporation of Bangladesh (TCB). Prices of all types of rice have risen by around 21 to 30 per cent in the past week of this year compare to the same period of the last year, according to data available with TCB. Compared to last year, per kg of coarse rice has risen in price by Tk 8 to Tk 9. TCB data shows that the retail price of coarse rice was between Tk 44 and Tk 46 per kg, while it was Tk 35 to Tk 38 a year ago. The data showed that the premium variety of Nazirshail and Miniket was sold at Tk 64 to Tk 68 per kg in different markets of the capital in the past week of this year, while it was sold at Tk 48 to Tk 56 per kg a year ago. Nazirshail and Miniket (ordinary quality) was sold at Tk 58 to Tk 62 per kg in different markets of the capital in the past week of this year, while it was sold at Tk 44 to Tk 48 per kg a year ago. Weak public reserves, massive damage to paddy crops during the Boro season, floods that hit Aman cultivation, plus a lacklustre attempt to procure rice from the international market worsened the situation. In January 2017, flour was sold at Tk 24 to Tk 32 per kg. Now it is being sold at Tk 28 to Tk 35 per kg (lose) and Tk 32 to Tk 35 per kg (packed). The price of onion has increased abnormally in the last one year -- by 180 to 190 per cent. At the beginning of 2017, the local variety of onion was sold at Tk 20 to Tk 30 per kg, while it was sold at Tk 60 to Tk 80 per kg in the retail market in the last week of current year. On the other hand, the imported variety is being sold at Tk 60 to Tk 70 per kg, while it was sold at Tk 20 to Tk 25 in January last year, according to TCB. Regarding the high price of onion, AHM Mustfa Kamal jokingly said that there is explosive material in onion, so people should take less of the item to save themselves from explosion and also save money. Onion is the latest item taking away a large slice of the budget for grocery items, particularly of low-income families who have already been experiencing squeezing of their purchasing capacity for the high prices of rice and vegetables. Very few vegetable items are now available in the markets at below Tk 50 per kg. The price of a kg of green chillies has come down to Tk 50 per kg from Tk 150 to Tk 200. It was Tk 40 per kg in January 2017. The price of garlic increased in the middle of the year and fell significantly in December. The price dropped by around 56 per cent in January this year, compared to January 2017. Besides, prices of vegetables are still high, despite winter vegetables being available in the kitchen markets. Vendors claimed that supply is not enough compared to last year.