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Bangladesh - January 14, 2024

Commodity market heats up after polls

Staff Correspondent : After the election, the daily goods market has become hot. Prices of most products including rice and flour have increased. The prices of meat and vegetables have increased relatively high. In this situation, buyers are struggling to go to the market.
Traders are making various arguments to increase the price according to the traditional rules. Some say the cost of production has increased, some claim less supply. Others say that every product goes through several handshakes to reach the consumer level from the farmer. Each level of traders makes more or less profit. This is how the price of the product increases.
However, consumers say that even if the traders increase the prices as they wish, there is no government supervision. Consumers are hostages. Not only the lower class, but also the middle class are now forced to cut back on purchases.
After buying beans at the rate of Tk 100 per kg in Shantinagar of the capital yesterday, government employee Alauddin told, “Beans should be Tk 25-30 per kg during winter.” But I had to buy it for Tk 100. I bought cauliflower for Tk 60. Generally, the price of vegetables is low in the winter season. At this time,
customers buy more vegetables. But this time it’s the opposite. During the peak season, prices are out of reach for many buyers.
In Shantinagar, Segunbagicha and Malibag markets, it was found that no vegetables are available for Tk 50 except radish, papaya and wolkapi (turnip). Depending on the size, beans are being sold at Tk 80 to 100 per kg, each piece of gourd at Tk 90 to 100, cauliflower and cabbage at Tk 50 to Tk 60 per kg, brinjal at Tk 80 to Tk 90 per kg. Tk 45 to Tk 50 per kg of radish and raw papaya. Tomato prices are high most of the year, but slightly lower in winter. But now tomatoes are selling at Tk 70 to Tk 80. Jhinga, Dhundal and Uchcha are being sold at Tk 70 to Tk 90. But the production cost of these vegetables is Tk 10 per kg.
According to the information of the Directorate of Agriculture Marketing, the cost of production of beans per kg is Tk 6.88. Apart from this, the production cost of eggplant is Tk 10.26 per kg, tomato Tk 9.69, radish Tk 5.55 and raw papaya Tk 9.3. Production cost of each piece of gourd, cauliflower and cabbage is Tk 13.20, Tk 10.26 and Tk 9.93 respectively.
According to the Agricultural Marketing Act, profit margins on vegetables at production, wholesale and retail levels can be increased to a maximum of 40, 25 and 30 percent respectively. Accordingly, the maximum price of one kg of beans from the farmer to the consumer can be Tk 15.65. But it is being sold at 6 times more than this price. Other vegetables are also being sold at 5 to 6 times the cost of production.
Imran Master, president of Bangladesh Commodity Owners Association told, “Farmers’ prices of pesticides, seeds, fertilizers and labor wages have increased. Their production cost has increased by at least 20 percent compared to before. That’s why the field price is a bit higher. Few hands change from farm to retail. Transportation cost is also extra. There are various trinkets in the streets and markets. All in all, it has an impact on the retail market.
Director General of National Consumer Protection Directorate AHM Safikuzzaman said, ‘The Agriculture Marketing Directorate is supposed to take care of controlling the price of vegetables. But no significant role is seen in the field except the Consumer Directorate. However, we are trying to ensure maximum supervision.
Broiler chicken prices have increased by Tk 30 per kg in a span of two weeks. In early January, broiler chicken was around Tk 180 per kg. Yesterday it was sold for Tk 210 to Tk 220. Golden chicken is also being sold by Tk 20 to Tk 320 to Tk 340 per kg.
Beef has been sold at Tk 600 to Tk 650 per kg for about two months. It is being sold for a week at the rate of Tk 700. Owner of Sajjad meat store in Malibagh market. Shahjahan said that meat had to be sold at a loss for two months. Not possible anymore. Ferdous Hossain, a chicken seller in Segunbagicha, thinks that the effect of the increase in the price of beef has fallen on broilers. This salesperson of Rupali Broiler House said that the price of broiler has increased by more than Tk 20 in a week. The potato market is still unknown to the buyer. At this time last year, a kg of potato was Tk 20 to Tk 22. Now in full season new potatoes are being sold at Tk 60. Old potatoes cost more.
Ramadan is still two months away. But heat in chickpea market. The price of the product increased by Tk 20 to Tk 25 per kg in two weeks and is being sold at Tk 110 to Tk 120. Apart from this, anchor dal is being sold at the rate of Tk 75 to Tk 80 per kg, which has increased by Tk 10 in two weeks.
At this time last year, a kg of fresh onion was Tk 35 to Tk 45. Now you have to spend Tk 90 to Tk 110 to buy. In a span of three weeks, garlic has also increased by Tk 20 per kg and is being sold at Tk 260 to Tk 290 for domestic and Tk 250 to Tk 260 for Chinese garlic.
According to the information of government agency TCB, the price of potato has increased by 134%, onion by 125%, chickpea by 6%, and broiler chicken by 27%.
The rice market suddenly started increasing two days before the election. Small (miniket) rice is being sold at Tk 68 to Tk 72 per kg. At the beginning of January, it was Tk 64 to Tk 65. That is, it has increased from Tk 4 to Tk 7 per kg. Medium (BR-28 and Payjam) rice is selling at Tk 55 to Tk 58 per kg with an increase of Tk 3 to Tk 5. Coarse rice is being sold at Tk 50 to Tk 52 per kg after an increase of Tk 2. Along with rice, the price of flour has increased by Tk 5 and is being sold at Tk 50 to Tk 60 per kg.

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