Prices hiked up to 88pc

Despite the government's repeated warnings, greengrocers hiked vegetable prices on the eve of Ramadan in the capital's kitchen markets to make quick profits.
The average prices of four vegetable items -- aubergine, cucumber, green chilli and onion -- rose between 11 percent and 88 percent over the last one month, The Daily Star found while visiting a number of kitchen markets. These vegetables are widely consumed during Ramadan.
Swapna Islam, a housewife, bought a kg of aubergine at Tk 80 from a roadside vendor at Kathal Bagan yesterday. It sold at Tk 50 per kg only two weeks ago.
“High prices discouraged me from buying more,” said Swapna, as she abandoned her plan to buy vegetables for a week.
Cucumber price shot up to Tk 55 a kg yesterday from Tk 30 only a week back, she said. “It is illogical to hike prices within such a short time despite adequate supply."
Swapna's reaction reflects a general sense of frustration among shoppers in most parts of the city.
At Karwan Bazar, four pieces of standard-size lemons were selling at Tk 25-30 yesterday which was Tk 15 only a couple of days ago.
Though green chilli would cost between Tk 40-60 per kg a month ago, it sold for Tk 80-90 yesterday.
At Hatirpool kitchen market, retailers were selling locally produced onions at Tk 40 a kg, up from Tk 34 a week ago.
Though the government has imposed a ban on exports of aubergine, garlic, cucumber, green chilli, lemon and coriander leaves until July 31 to ensure adequate supply during Ramadan, and check price hike, it certainly has not worked as expected.
“Prices of some vegetables have increased mainly due to supply shortage,” said Mohammad Sayed, president of Shyambazar Krishi Panya Aarot Banik Samity, blaming the supply shortfall on the heavy rain in the last couple of weeks.
The price of garlic rose by 15.38 percent to Tk 60-Tk 90 a kg compared to that of the previous month, according to the Trading Corporation of Bangladesh.
“Onion price is increasing mainly due to low production in India,” said Ratan Saha, an onion wholesaler at Shyambazar.
India has recently doubled the minimum export price of onion to $300 a tonne, he said adding that this is likely to fuel onion price hike in Bangladesh markets as traders squeeze supply.
Onion imports went up 76 percent in the first 10 months of the outgoing fiscal year and onion worth $153 million was imported, according to the LC settlement statistics of Bangladesh Bank.
Besides, LCs for importing onion increased by 78 percent and LCs worth $165 million were opened for importing spices, which are in high demand for preparing iftar items during Ramadan.
The annual domestic demand for onion is 22 lakh tonnes. The country produced 13.58 lakh tonnes in the last season and the rest was imported mainly from India.
The government, however, claimed the country has adequate supply of onion.
“There is no reason to hike prices ahead of Ramadan as the country has adequate supply of essential items,” the commerce ministry yesterday said in a statement.
Besides, 14 teams of the ministry have already started monitoring the supply and pricing of basic commodities in the city's kitchen markets, it said.
The ministry also warned traders of punitive actions for any attempt to make too much profit during Ramadan.
The price of bottled cooking oil remained unchanged. A 5-litre jar of edible oil was selling at Tk 545-560 yesterday, the same as a month ago. The prices of gram, lentil and date also remained stable till yesterday.
Meanwhile, Commerce Minister Tofail Ahmed yesterday said that business leaders have assured him of keeping the prices of essentials at a tolerable level during Ramadan.
Replying to lawmakers' queries in parliament, Tofail said business leaders, retailers and wholesalers gave this assurance in two meetings with the government on June 9 and March 31.