Commodity prices surge as supply dips amid heatwave

Infographic: TBS

Prices of several daily commodity items, including chicken, onions, and vegetables, have gone up over the week in Dhaka's kitchen markets. Traders blame the rise on the combination of low supply and the heatwave.

During a visit to the kitchen markets in Karwan Bazar and Moghbazar today, it was observed that the prices of broiler chicken had increased by Tk25-30 per kg, onion by Tk5, and vegetables by Tk5-Tk10.

Dulal, the owner of Chicken House at Karwan Bazar, said that last week, broiler chicken was priced at Tk190 per kg, but now it is between Tk215 and Tk220. He said supply had fallen short of demand, resulting in escalated wholesale prices.

Meanwhile, Sonali chicken prices surged by Tk40 per kg within seven days, reaching Tk400 per kg today.

Anwar Hossain, a buyer, said the steep rise in broiler chicken prices from Tk140-Tk150 two years ago to Tk220 per kg now, affecting his ability to afford it even for special occasions.

Sumon Howlader, president of the Bangladesh Poultry Association, told TBS that marginal chicken farmers suffered losses due to chicken deaths caused by intense heat, leading them to quickly sell off chickens.

This had increased supply, and prices fell a few weeks ago, he said, adding that the prices are going up now because the supply of chicken is less than the demand.

He also mentioned that marginal farmers are struggling due to chick shortages. "Small poultry farmers are buying chicks at double their production cost from big farms, escalating chicken production expenses."

Howlader said there should be regular market monitoring by the government, irrespective of price fluctuations. "This will benefit marginal farmers in the long run."

Onion, egg, and veggie prices rise

Eggs were selling for Tk120 per dozen at Karwan Bazar today.

Saiful Islam, an egg seller, said the price was higher because of rising wholesale prices. "The wholesale price for 100 eggs went up by Tk50 in a week. It is now priced at Tk840."

Meanwhile, local onions were priced at Tk70 per kg.

Mohammad Yusuf, a retailer at Karwan Bazar, said there was a Tk5 increase in wholesale onion prices over the week, now at Tk65 per kg.

Garlic prices also increased, by Tk20 per kg, with imported garlic retailing at Tk235 per kg.

Tajul Islam, a buyer, said he purchased garlic last week for Tk205 per kg, now buying it for Tk235.

Mohammad Hriday, a vegetable seller at Moghbazar's Ambagan kitchen market, said prices for various vegetables, like bitter gourd, potatoes, and sweet potatoes, increased by Tk5 in a week.

Billa Hossain, a vegetable seller in the market, said vegetable prices were a bit higher because the heavy rain the night before interrupted many supply trucks from arriving.

According to the Trading Corporation of Bangladesh (TCB), prices of essentials like potatoes, rice, pulses, and oil have increased over the last month.

Coarse rice saw a 4% increase, selling at Tk50-54 per kg, according to the TCB. Local pulse prices rose by 1.89%, now selling at Tk130-140 per kg. Potato prices surged by 40%, reaching Tk50-55 per kg. Additionally, bottled soybean oil prices increased by 0.62%, now at Tk160-165 per litre.