Vegetables, spices get dearer ahead of Eid-ul-Adha

Within a week, vegetable prices soared by Tk10-30 per kg, while spices and onions became 10% more expensive ahead of Eid-ul-Adha. 

Traders attributed the vegetable price spikes to low supply. They say the increase in spice prices was due to a global price hike, complications with opening letters of credit (LC), and higher US dollar exchange rates.

However, after visiting some kitchen markets in the capital on Friday, this correspondent found no supply crunch for vegetables. 

On Friday, Md Irfan, a vegetable retailer in the city's Shahjadpur area, told TBS, "Prices have gone up across the board. I refrained from buying vegetables on Thursday due to the high costs, but today I had no choice. If we purchase at higher prices, we must sell at higher prices too." He said he had to buy four pieces of banana for Tk50. 

On Friday (7 June), in kitchen markets across Karwan Bazar, Shahjadpur, Badda, Rampura, Hatirpool, and other areas, brinjal was selling for Tk70-90 per kg, papaya for Tk60-70, bitter gourd for Tk70-80, spiny gourd for Tk80-100, and yardlong beans for Tk100-120. Pointed gourd, okra, ridge gourd, and snake gourd were priced at Tk70 per kg. 

Additionally, bottle gourd was selling for Tk70-80 each, while cauliflower and cabbage were priced between Tk40 and Tk50 per piece, and green bananas soared to Tk40-50 for four pieces.

Over the past week, potato prices have jumped to Tk60-65 per kg and cucumber price to Tk80-90. 

Green chilies were retailing between Tk140 and Tk170 per kg depending on quality. If bought in small amounts, the price is Tk200 per kg. 

Selina Akhtar, a shopper at Shahjadpur kitchen market, told TBS, "Prices only seem to go up; we never hear about them falling. If vegetable prices are this high, how can we afford other kitchen essentials?"

Meanwhile, local onion prices soared by Tk5 per kg over the past week to retail at Tk85-90 per kg. Their wholesale price is Tk76-80. 

Per kg imported onions are now selling at Tk90-100, while their wholesale price is Tk80. 

Babul Mia, a wholesale onion trader in Karwan Bazar, told TBS, "The presence of imported onions is low in the market. However, both varieties are now wholesaled at Tk80 per kg." 

On the other hand, the Trading Corporation of Bangladesh (TCB) has estimated a 5% to 8% hike in all types of spice prices in a span of a week. 

Atiqul Haque, general secretary of the Bangladesh Paikari Garam Masala Baboshayi Samity, an organisation of spice traders, blamed the higher dollar price against taka for the price hike. 

"The dollar's exchange rate is higher than the government's set price, and we need to maintain a margin to open LCs. Since spices are import-dependent, international price increases significantly impact the local market," he said.

Meanwhile, at the retail level, brown eggs are priced at Tk160-165 per dozen, and white eggs at Tk150-155 per dozen. Broiler chickens are now selling for Tk200-210 per kg, while Sonali chickens are priced at Tk330-350 per kg.

SM Najer Hossain, vice-president of the Consumers Association of Bangladesh (CAB), told TBS, "The budget has reduced the tax at source by 1% on some daily commodities. This move has had much impact on the market." 

He also blamed lax market monitoring by government agencies, which has also led to vegetable and commodity price spirals.