Retail prices of onion, sugar and chickpeas have started decreasing after being sold at higher prices for some time. The price of vegetables is also slightly decreasing. However, almost all other food products including rice, pulses, oil, flour, flour, eggs, broiler chicken are being sold at higher prices than before.
Meanwhile, the retail traders complained that even with the increased price, the edible oil is not meeting the demand. This information was obtained by visiting several markets including Segunbagicha in the capital yesterday Thursday.
Sugar was being sold at Segunbagicha market yesterday at Tk 125-126 per kg. The retail price of sugar was Tk 128-130 in this market even a week ago.
The shopkeepers said that they are buying 119-120 taka per kg of sugar including cost. A week ago it was 127-128 rupees.
Retailers say prices are coming down as supply of sugar increases in the market. However, they claim that the rate at which the duty has decreased, the price should decrease further.
The country's sugar importers and producers have been saying for a long time that the price of sugar in the market has gone up due to the increase in the price in the international market and the rise in the value of the dollar against the rupee in the country. The price of sugar in the country's market is much higher than that of neighboring countries due to the high rate of import duties and taxes. In this context, NBR reduced the existing regulatory duty on refined and unrefined sugar from 30 to 15 percent on October 8. The agency then waived the existing import duty on refined sugar on October 17 to further increase the supply of refined sugar. As a result, the import duty of sugar per ton has come down from Tk 6,000 to Tk 4,500. After this concession, the cost of importing sugar per kg is supposed to be reduced by Rs. 11.
Chickpea prices have fallen slightly this week after a sudden surge. The price of the product rose to Tk 140 at retail in early September last year. The sellers said that the price of gram has decreased by 10-15 rupees in the last one week. Teak bagicha was sold in the market yesterday at the price of Tk 125-130 per kg.
Traders said that chickpeas are being sold wholesale at Tk 119 in different markets of the capital. A week ago it was up to 128 taka.
Usually the demand for sugar and gram increases a lot during the month of fasting. A month before that, the price started to rise. But this time the price had increased three to four months ago.
The owner of 'Ma Baba Doa Store', a seller of grocery products in Segunbagicha market. Mostafizur Rahman said, 'The supply of these three products, sugar, chickpea and onion, has increased slightly compared to before. So the price has started to come down. Prices and supply of other items remain the same. Only in the edible oil market has the supply crunch worsened. We cannot buy oil even with the increased price.'
Local onions were sold at Segunbagicha market yesterday at the price of Tk 120 per kg. A week ago it was Rs. 130. Imported onions are available at Tk 110 per kg.
According to the government organization Trading Corporation of Bangladesh (TCB), sugar was sold in the market yesterday at Tk 125-127 per kg, chickpea at Tk 125-140 and domestic onion at Tk 115-130 per kg. According to TCB, the price of sugar and onion is 10-13 percent lower than last year, but the price of gram is 51 percent higher.
Oil supply is almost stopped
Meanwhile, the government has reduced the import cost of edible oil by 10-11 taka by giving tax concessions, but the brand companies have almost stopped the supply without reducing the price. Dealers and retailers complain that they are not getting even 10 percent of the required oil. Not even with an advance payment. They complain that if the companies want to increase the prices, they reduce the supply and put pressure on the government. They have done this many times in the past.
Shantinagar Bazar City Group Dealer Md. Ziaul said, 'The company has almost stopped the supply of oil. I have daily demand of 200 cartons of two liter oil in Shantinagar and Segunbagicha markets. On the 1st the company supplied me with some oil. Today, Thursday, after five days, 50 cartons of two liters of oil have been given. If 1000 cartons in five days yield 50 cartons against the demand, it is only 5 percent of the demand.
The price of vegetables has decreased a little
Meanwhile, prices of vegetables other than potatoes have decreased slightly. The supply increases, especially the prices of cauliflower, cabbage, gourd, radish, raw tomato, which are known as winter vegetables, have decreased by Tk 5-10 per kg. Noor-e-Alam, a vegetable seller in Segunbagicha market, said, 'The price of potatoes is still Tk 75-80. However, the supply of cauliflower and cabbage has increased a lot this week. Although the price as a piece has not decreased much, relatively large copies are being bought at the same price as last week.' Cauliflower and cabbage are available in this market for 40-50 taka. Last week the price was Rs 50-60.
