Rice prices yet to cool despite govt warnings

The price of rice has not gone down in Dhaka's kitchen markets despite government warnings of legal action against traders.

The retail price of all varieties of rice increased by Tk 2-8 a kg in the last two weeks, dealing a blow to the people already burdened with the higher prices of essentials.

In the wholesale markets, the price fell up to Tk 1 per kg in the last two days, but there was no impact on the retail markets.

Traders say it would take at least a week for the price to go down at the retail level.

On January 17, rice traders and mill owners promised to reduce prices after Food Minister Sadhan Chandra Majumder set a four-day deadline to cut prices.

They made the promise during a meeting with the minister at the Directorate General of Food office in the capital.

The Daily Star yesterday went to Kochukhet, Karwan Bazar, Mohammadpur, Mirpur-11 Kacha Bazar, Ibrahimpur, Shewrapara, and Kazipara kitchen markets and found prices of all varieties of rice were high.

Mohammad Munna, a resident of the Mohammadpur area, said he has been paying an extra Tk 7 to buy a kg of miniket variety of rice over the last two weeks. A kg of miniket that cost Tk 65, now costs Tk 72.

"It means I am paying an additional Tk 14 for two kg of rice, which I need for my five-member family. The extra Tk 420 a month is becoming a burden," he told The Daily Star at Mohammadpur Krishi Market.

Munna, who works at a butcher shop and earns Tk 700 daily, said, "If only the rice price increased, it would not affect us. But prices of almost all daily essentials have gone up."

Like Munna, the hike has hit low and fixed-income people hard.

Alamgir Hossain, manager of M/S Shuchona Rice Agency at Mohammadpur Krishi Market, accused the big traders of hoarding most of the rice.

"If they [big traders] cannot be controlled, it will be impossible for the government to bring down the rice price," he opined.

The effect of the price fall at wholesale markets may take at least a week to bring down the price at the retail level, he added.

Meanwhile, mill owners said, despite buying paddy at a high price, they had to reduce the rice price by Tk 0.5-1 a kg.

"If the paddy price decreases, we will cut the rice price," said Nirod Boron Saha, president of Rice and Paddy Stockists and Wholesalers Association in Noagaon, a major rice wholesale hub in the north.

Moreover, prices of vegetables remain high in the capital's kitchen markets.

This newspaper yesterday found each kg of brinjal was being sold for Tk 70-100, beans for Tk 50-80, tomatoes for Tk 50-60 and bitter gourd for Tk 80-120. Besides, a cauliflower was available at Tk 40-60, a cabbage at Tk 40-50, and a bottle gourd at Tk 70-100.

Meanwhile, prices of potatoes and onions decreased by Tk 5-15 per kg.

Customers were buying each kg of potatoes for Tk 45-55, down by Tk 5-10 from last week, and onions (local) for Tk 75-90, which was Tk 80-100 last week.

Prices of chickens and eggs remained high. Broiler chicken was being sold for Tk 200-210 a kg and chicken (Sonali) for Tk 300-340.

Yesterday, beef was costing Tk 700 a kg in the capital's kitchen markets, up by Tk 50 from two weeks ago.