Prices surge ahead of Ramadan despite moves to rein in
Ramadan starts on 12 March, depending on the moon sighting. The current price surge is adding significant pressure on ordinary people, especially since they typically buy some of the month's essentials in advance.
With just over two weeks until the month of Ramadan begins, the prices of essential items such as broiler chicken, sugar, onion, and dates have surged in the capital's kitchen markets.
Ramadan starts on 12 March, depending on the moon sighting. The current price surge is adding significant pressure on ordinary people, especially since they typically buy some of the month's essentials in advance.
Visiting four kitchen markets on Friday (23 February), it was observed that the price of chickpeas, widely used during the fasting month, had increased by Tk10-Tk15 per kg in the last one month to reach Tk100-Tk105.
Kamal Hossain Riaz, a grocer at Kallyanpur kitchen market, said the price of sugar has increased by Tk5 per kg to Tk145-Tk150. "Just 15 days ago I used to buy wholesale sugar for Tk132 per kg, now I have to buy it for Tk135."
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He explained that due to the higher purchase cost, we have to sell at a margin to make a profit. For example, five litres of bottled soybean oil are currently being sold at Tk780-Tk820.
The government on Thursday initially raised the sugar price by Tk20 per kg to Tk160, but later that same evening, the decision was reversed.
According to Trading Corporation of Bangladesh (TCB) data, prices for about 20 products have risen in the past month.
Onion trader Mohammad Altaf Hossain in Karwan Bazar, said that wholesale onions were being sold at Tk110-Tk112 per kg. In the retail market onion is being sold at Tk120 per kg.
Besides, dates, another essential item in the fasting month, was being sold at Tk250-Tk850. It used to be between Tk250-Tk450 per kg a month ago.
Among other essential items, flour was Tk50-Tk55 a kg, up from Tk45-Tk50. Fine rice is Tk65-Tk78 per kg, medium quality rice Tk54-Tk58, and coarse rice Tk50-Tk52.
With this, the average increase of rice price in a month is 2%-5%.
Mohammad Imon, a salesman at Al Amin Traders in Karwan Bazar, said he was selling sugar at Tk145 per kg. "Last year I sold chickpeas at Tk80 per kg, now I am selling them at Tk105."
Meanwhile, broiler chicken prices have started to rise again ahead of Ramadan.
According to the TCB, the price of broiler chicken was Tk190-200 per kg a week ago. But it was selling at Tk200-Tk210 per kg at Karwan Bazar on Friday. It was being sold at Tk220 per kg in Moghbazar kitchen market.
Aminul Islam, a chicken seller at Karwan Bazar, said that now many social events are taking place, so the price has also increased due to the increase in demand.
Sahe Alam, a shopper at Karwan Bazar, expressed concern, "Our income isn't rising alongside the increasing prices. Last year at this time, I bought onions for Tk35-Tk40 per kg. Now, I fear what will happen when Ramadan begins."
The government reduced import duty and tax on rice, sugar, oil and dates to keep the price of products bearable in the market before Ramadan.
However, the move has yet to impact the market with traders blaming importers of monopolising the business.
