Potato prices surge amid supply crunch; rice remains costly
Consumers are finding some relief with the arrival of winter vegetables, which has contributed to reduced prices for other produce
Highlights
- Despite import duty cuts, potato prices go up, exceeding last year's peak
- Onion prices are also high with local variety selling at Tk150 per kg
- Egg and chicken prices defy government price caps
- Coarse rice prices rise by 5.94% in a month
- Food inflation soars to 12.66% in Oct, up from 10.40% in Sep
Potato prices have surged in Dhaka's markets due to a supply crunch while the prices of rice remain elevated.
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Over the past week, the price of potatoes in Dhaka's markets has increased by Tk10 per kilogram, bringing the current rate to Tk70.
According to vendors, this spike is due to a reduced supply, partly affected by the end of the potato season and recent rainfall damaging crops.
Rice prices show no signs of a decrease from the previous week. BR28 rice is currently selling at Tk65 per kilogram, and coarse rice (Swarna, IRRI) has risen by 5.94% in the past month, priced at Tk52-55 per kilogram.
Mid-quality varieties such as Paijam cost Tk59-65 per kilogram, while Nazirshail and Miniket varieties sell at Tk68-80.
Onion prices have also soared, with local onions now reaching Tk150 per kilogram.
However, consumers are finding some relief with the arrival of winter vegetables, which has contributed to reduced prices for other produce.
A visit to Karwan Bazar, Kalyanpur, and Moghbazar markets today (8 November) highlighted both the challenges and minor reliefs for consumers.
Vendor Iman Ali from Karwan Bazar attributed the higher potato prices to seasonal factors and crop damage. "The price has risen by Tk10 per kilogram from last week," he said.
Meanwhile, Delowar Hossain, a customer at Karwan Bazar, faced a tough decision, reducing his intended 5 kg purchase of potatoes to just 3 kg at the increased price of Tk70 per kilogram.
"Prices have gone up, but my income has not," he said. He also purchased a kilogram of small Indian onions for Tk120.
Despite government measures to stabilise potato prices, including a reduction in import duty from 25% to 15% and removal of regulatory duty as of 5 September, the Trading Corporation of Bangladesh reports that potato prices remain higher than last year when they peaked at Tk52 per kilogram during the same period.
Eggs and chicken prices defy govt fixed rates
Eggs and broiler chickens, despite fixed government prices announced in mid-September, continue to be sold at rates above the set prices.
Currently, eggs are priced at Tk150-155 per dozen, while broiler chicken costs between Tk190 and Tk200 per kilogram in different markets.
In Kalyanpur, for instance, broiler chicken is sold at Tk200 per kilogram, while Karwan Bazar prices are slightly lower at Tk190.
According to rates set by the Department of Agricultural Marketing, the price of each egg should be Tk11.87, amounting to Tk142.44 per dozen, and broiler chicken should retail at Tk179.59 per kilogram.
Mohammad Yusuf, a poultry seller at Karwan Bazar, said that broiler chicken prices had increased by Tk5 per kilogram in just three days. "It was Tk185 before; now, it is Tk190," he said, noting the rapid fluctuations in the market.
Rice prices continue to burden consumers
Ali Hossain, a sales assistant at Yasin General Store in Karwan Bazar, confirmed, "Rice prices have not changed this week."
Adding to the financial strain on households, inflation rates have risen further, with food inflation climbing to 12.66% in October from 10.40% in September.
General inflation also increased from 9.92% in September to 10.87% in October, as per the Bangladesh Bureau of Statistics data released on Thursday.
Despite the high cost of essential items, the arrival of winter vegetables is offering some relief, with prices decreasing compared to the past two seasons.
Traders attribute the decrease to an increased supply of fresh produce in wholesale markets.
Currently, aubergine sells for Tk70-80 per kilogram, bitter gourd at Tk60-70, beans at Tk100-120, okra at Tk60, long beans at Tk60-70, sponge gourd at Tk55, radish at Tk50, and pointed gourd at Tk50.
However, not all vegetables have seen price drops. The cost of medium-sized bottle gourd has risen from Tk50 to Tk70, while green chilli continues to sell at Tk130-140 per kilogram in Karwan Bazar.
As food prices and inflation rates continue to rise, the impact on everyday expenses is significant for consumers, making even slight reductions in vegetable prices a modest but welcome relief.
