Coarse rice price up by Tk 1 on retail market

Prices of different varieties of coarse rice went up by at least Tk 1 per kg in Dhaka's retail markets yesterday following a price rise in wholesale markets by Tk 50-100 per maund in the last three days.
IRRI, Guti and Swarna rice sold at Tk 29-30 per kg yesterday compared to Tk 28-30 on the previous day in retail markets at Karwan Bazar, Moulavibazar and Mohammadpur Town Hall Market.
Wholesale prices of the same varieties of rice went up by Tk 50-100 a maund (37.32 kg) in the last three days at Karwan Bazar, Badamtoli, Babubazar and Mohammadpur Krishi Market.
IRRI sold at Tk 1,050-1,060 a maund, Guti Tk 1,040-1,090 and Swarna Tk 1,020-1,050 yesterday compared to Tk 980-985, Tk 980-990 and Tk 990-1,000 on Friday.
Retailers claimed that they had to increase prices due to rise in wholesale prices.
"I paid Tk 1,080 for a maund of Guti rice that I bought from Bogra on Sunday, which was Tk 970 only a week ago," said Abdur Rahman, a rice trader in Karwan Bazar market.
He said he would have to sell the rice at Tk 1,150 or more, because of the Tk 50 transportation costs.
Meanwhile, the government announced that joint forces will start market monitoring from January 18. It appears to have created fears among traders.
Expressing their resentment, businessmen said instead of repeated market monitoring, the government should ensure adequate supply of fertiliser and seeds at affordable prices across the country. This would increase production of rice with consequent fall in its price.
Without adequate supply of rice, joint forces' monitoring might lead to further rise in prices," a rice trader at Babubazar said.
Meanwhile, all the BDR shops in the city remained closed yesterday as on all Mondays. This resulted in heavy rush at OMS shops which sell rice at Tk 25 a kg.