Rising imports fail to cool Ramadan essential prices

Prices of essentials that remain in high demand during Ramadan, such as sugar, edible oil, chickpeas, lentils, mung, dried peas, onion, garlic, date, etc continue to go up in local market even though the import of most of these commodities was higher in the last couple of months compared to the same period previous year to meet the increasing demand ahead of the month of fasting.

Despite having an adequate supply of the commodities in the market, prices remained significantly higher, which consumers claimed had been done by unscrupulous businessmen which they always do ahead of Ramadan.

They also said though Ramadan is around two months away, the traders already raised the prices so that they do not need to hike the price further in the fasting month.

A review of the Customs data shows that in the three months till 15 January, 41,840 tonnes more onions were imported than that in the same period a year ago.

In addition, 1,41,781 tonnes more anchor, 14,391 tonnes more lentils, 14,879 tonnes more dates, 28,201 tonnes more wheat and 1,08,868 tonnes of crude soybean oil, were imported during the same time.

Visits to the capital’s different markets in Mohammadpur, Mirpur-6, Mirpur-12, Shewrapara, Natunbazar and Badda revealed that the price of chickpeas, the most crucial Ramadan product, increased by Tk25-Tk30 to Tk100-110 per kg in last one month.

The price of lentils has increased to Tk145-150 from Tk130-140 per kg in a couple of weeks. Packaged lentil from different corporate companies was sold at Tk160-170 per kg.

Mung price increased to Tk160-170 from Tk150 per kg in a week and price of anchor lentil price increased to Tk85-90 from Tk70-80 per kg in a week.

According to the Trading Corporation of Bangladesh (TCB), the price of lentils increased by 4%, Mung by 28%, anchor by 7% and chickpeas by 11% in a year.

Loose sugar was sold at Tk145-150 per kg, which is a record high as it was sold at Tk110-120 a year earlier.

Bottled soybean oil price increased by Tk4 per litre, loose soybean oil price by Tk5 per litre in a week to Tk55-160 per litre and loose palm oil price increased by Tk5 per litre in a week and was sold at Tk130-135.

The price of onion has increased by Tk10 in a week to Tk100 per kg, garlic price increased by Tk20-40 in the last couple of weeks to Tk270-280 per kg and ginger was sold at Tk280 per kg which is the same as the previous week.

Beef prices increased to Tk700-750 from Tk600-650 per kg in a month. Broiler chicken prices increased to Tk220-230 per kg and sonali chicken prices were Tk340 per kg. Farm chicken egg prices increased by Tk10 in a week and were sold at Tk140-145 per kg.

The price of regular dates has increased by 11% in a year and was sold at Tk250-420 per kg, according to the TCB.

Market insiders feared that the prices of daily essentials may soar further as Ramadan comes closer.

Md Jasim, a retail shopkeeper at the capital’s Mirpur-12, said that retailers have to buy products at higher prices from wholesalers and that is why the prices have increased.

Several government organisations have been monitoring the market three months ahead of Ramadan but the price has yet to calm down.