Spice prices in Rajshahi have skyrocketed ahead of Eid-ul-Azha, causing concern among residents and traders. With Eid still two weeks away, the cost of spices has nearly doubled compared to last year, particularly for imported varieties like cardamom, cloves, and cinnamon.
Wholesale traders in Rajshahi attribute the price hikes to increased costs from suppliers in Dhaka and Chattogram, driven by a higher US dollar exchange rate. However, some local traders, speaking anonymously, accuse dishonest importers of hoarding spices since Ramadan to sell at inflated prices now.
On May 26, AHM Shafiquzzaman, Director General of the National Consumers' Rights Protection Department, conducted a market inspection at Shaheb Bazar. He noted that spices had been imported three months prior and warned that unjustified price increases would prompt government action. At Shaheb Bazar, quality small cardamom is now Taka 3,500 per kilogramme, large cardamom Taka 3,400, and cinnamon Taka 600. Comparatively lower-quality spices are slightly cheaper, but prices have still risen significantly. Retail prices are even higher, with large cardamom reaching Taka 4,200 per kilogrammeme and dried chilli up to Taka 500 per kilogrammeme.
Green chilli has surged to Taka 200 per kilogrammeme, and other local spices like onion, garlic, and ginger have increased by Taka 20 to 30 per kilogrammeme in just a week.
Rizvi Ahmed, General Secretary of the Grocery Shop Owners of Rajshahi City, explained that local grocers buy spices in small quantities and sell them at minimal profit, relying on prices set by wholesale traders. Wholesale trader Rabiul Islam added that their prices depend on suppliers in Dhaka and Chattogram, who cite currency fluctuations as a reason for the increases.
Golam Mostafa Mamun, General Secretary of the Consumers' Association of Bangladesh in Rajshahi, called for government intervention to curb the activities of dishonest traders manipulating the market. As Eid-ul-Azha approaches, residents of Rajshahi hope for swift action to stabilise prices and prevent further exploitation.
