Supply crisis or syndicate, why are the prices of essential products increasing?
Besides fish, meat and vegetables, prices of Ramadan essentials have witnessed a sudden price hike at the advent of Ramadan.
Despite government exemption on export duties, prices are climbing upward, termed as supply shortages by traders, while consumers indicate organised syndicates behind the price hikes.
According to the demand, there is sufficient import and supply of Ramadan consumables such as chickpeas, sugar, dates, edible oil etc. in the country, said the National Board of Revenue.
Buyers are saying that the prices of several products including dates, gram, pulses, sugar have increased a lot pre-Ramadan compared to the previous Ramadan, much beyond the reach of the lower and lower middle classes.
Several kitchen markets across the capital revealed such differences in prices.
Chickpeas, the most essential of Ramadan, are being sold at Tk 110 to Tk 120 per kg, which was Tk 90 to Tk 95 per kg during last Ramadan. Accordingly, this time per kg has increased from 15 to 20 taka. A kg of khesari dal is now being sold at Tk 110 to Tk 120. Earlier it was between Tk 90 and Tk 100.
The price of one kg of normal quality dates is now selling at Tk 350 to Tk 400 in the market. Last year, just before Ramadan, a kg of such dates was Tk 200 to Tk 220. Besides, fine quality dates have increased from Tk 800 to Tk 1200 showing a clear increase of Tk 400 compared to last Ramadan.
The price of onion, ginger and garlic has also hiked. Last year before fasting, onions were Tk 30 to Tk 40 per kg. That price is now nearly thrice as much. Onion is being sold at Tk 100 to Tk 130 per kg.
In the retail market, ginger is being sold at Tk 220 to Tk 240 and garlic at Tk 220 to Tk 260 per kg. Those two essentials were Tk 100 per kg last Ramadan.
Meanwhile, new priced edible oil has started coming into the market. According to traders, bottled soybean oil is being sold at Tk 163 per liter and open soybean oil at Tk 160 per liter.
According to Chattogram Customs House data, 33,540.79 tonnes of dates have been released in the last three months from December to February. Apart from this, 1.601 lakh tonnes of sugar, 4.75364.08 lakh tonnes of edible oil, and 91354.33 tonnes of gram have been released in the last three months.
On February 8, the government exempted import duties on dates, sugar, edible oil and rice to rein in the prices of commodities during fasting. However, except for soybean oil, the prices of the other three products have not decreased.
State minister for Commerce Ahasanul Islam Titu earlier warned of action if anyone was found engaging in price hike despite the government’s exemption on import.
