Prices of most essential commodities and materials of utility services have gone up in the market immediately after the national budget for the fiscal year 2024-25 was placed in Parliament on Thursday.
The price hike of essential commodities has made it difficult for the general consumers to maintain their family expenditure.
Prices of eggs, meat, chicken, spices, milk, vegetables, child food, cigarettes, and utility service materials have risen further.
Even though dishonest traders and businessmen have been charging extra, consumers said, there is no monitoring by the government and its designated bodies.
Rashedul Islam, a private sector employee, has blamed traders for raising the prices of essential commodities under various pretexts. “The proposed national budget announced on Thursday just gave dishonest traders another chance of doing illegal business,” he said.
Another customer Nayan said traders were raising the prices of spices at will as Eid-ul-Azha, one of the biggest religious festivals of the Muslims, is approaching nearer.
In the market, cinnamon was being sold for Tk 500-520 per kg, cumin Tk 800-900, cardamom Tk 3,500-4,000, pepper Tk 880-900, cloves Tk 1,600-1,650, bay leaf Tk 100-120, dry chilli Tk 380-430, prune Tk 990, cashew nuts Tk 1,250-1,300 and coriander Tk 220-250.
Traders say that the prices of spices have increased in the wholesale markets due to an increase in the dollar rates. As a result, prices are increasing in the retail market as well. If imports are not increased, prices may go up further during Eid.
Rakib, a wholesaler at Karwanbazar, said that higher dollar prices have pushed up the prices of all kinds of spices.
However, onions were being sold at Tk 80-90 per kg in the market, after an increase of Tk 10. The variety of local garlic was selling for Tk 230-240 per kg, while imported garlic costs Tk 260 and ginger costs Tk 260.
Besides, the price of vegetables has increased by Tk 5-10 per kg in a week. Eggplant now costs Tk 60-80, cucumber Tk 50, bitter gourd Tk 60, papaya Tk 50-60, tomato Tk 40-50, pointed gourd Tk 60 and carrot Tk 50, among others.
However, the price of green chilli has decreased to Tk 140-160 a kg at retail level. Prices of fish, meat and eggs have also gone up further.
Although traders argue that supply crunch has led to the price hike, consumers have called for
intensive market monitoring and regular drives to tackle the situation.
State Minister for Commerce Ahasanul Islam Titu said, “This year’s budget does not contain anything that will destabilise the market. As you know, we have the Directorate of National Consumer Rights Protection through which we monitor the market.”
In reply to a query about the high price of essentials after the budget presentation, he said, “We are stepping up our market surveillance ahead of Eid. Due to tax waiver in the proposed budget, the prices of daily commodities will decrease.”
Atia Sultana, deputy director at Directorate of National Consumer Rights Protection, told Bangladesh Post, “We are continuing with our regular market monitoring efforts. Despite having limited manpower, we are trying our level best to stabilise the commodity market.”
“If we find anyone attempting to hike up the prices of essential goods, they will face punishment,” she added.
