Although there is a month left until Eid-ul-Adha, the prices of all varieties of spices have gone up.
As the demand for spices is highest during Eid al-Adha as compared to other times of the year, unscrupulous traders have started to manipulate the local spice market.
After visiting several kitchen markets of the capital, this reporter found cardamom being sold at Tk 3,000 to Tk 3,800 per kg. According to TCB data, the same cardamom price was Tk 1,600 to Tk 2,600 per kg last year. Prices have increased by 62 percent year-on-year.
The current prices for various spices are as follows: Cumin is priced at Tk 680 per kg, clove at Tk 1400 per kg, cinnamon at Tk 400 per kg, pepper at Tk 820 to Tk 850 per kg, nutmeg at Tk 700 to Tk 730 per kg, cinnamon at Tk 370 to Tk 400 per kg, turmeric at Tk 290 to Tk 310 per kg, black cumin at Tk 300 to Tk 320 per kg, raisins at Tk 650 to Tk 800 per kg, bay leaf at Tk 110 to Tk 120 per kg, and
white mustard at Tk 275 to Tk 300 per kg.
Traders have informed that, due to the sudden price hike in dollar rate the prices of spices have gone up. Amar Kanti Das, vice president of Bangladesh Spice Traders Association, said, “A large portion of spices comes from India. At present, the prices of some spice products including cumin and cardamom are on the rise. Moreover, the cost of imports has increased as compared to earlier due to the increase in dollar value. All these have a negative impact on the price.”
However, information from Chattogram Customs House showed that enough spicy products have been imported through Chattogram Port in the first five months of the year. So there is no reason for supply shortage.
According to the Customs House, 32170 tonnes of cloves, 29646 tonnes of pepper, 41346 tonnes of cumin, 24267 tonnes of cardamom have been imported from last January to last week.
Meanwhile, the commerce ministry has informed that market vigilance is continuing to monitor the instability of the spice market.
Consumers Association of Bangladesh (CAB) president Ghulam Rahman said that the prices may increase due to the supply situation. There is a trend of excessive profit. When inflation is high everyone wants to make more profit. If these people's greed is not reined in, the price will not decrease.
