Even before the Boro harvest season has fully ended, rice prices are on the rise. Within a week, the price of all types of rice in Dhaka’s markets has increased by Tk 3 to 5 per kilogram, depending on the quality.
This marks a steady upward trend in rice prices for over two weeks. A visit to markets such as Karwan Bazar, Shantinagar, and Turag’s Notun Bazar on Friday revealed the current price situation.
Traders say the main reason for the hike in rice prices is the high cost of paddy. "If paddy prices are high, how can rice be cheap?" they argued.
Large auto rice mills and corporate entities are now competing to purchase paddy and have already stockpiled the entire Boro season’s harvest. As a result, small millers have limited access to paddy, driving up prices in local markets and affecting the rice market negatively. Traders suggested that rice imports be allowed to help control the prices.
At a recent event in the capital, Agricultural Adviser Lt. Gen. (Retd.) Md. Jahangir Alam Chowdhury noted that despite good local production and rice imports, prices remain high. He added that the government is working to bring rice prices under control.
As of Friday, retail market prices in Dhaka were: Coarse rice (IRRI/Swarna): Tk 55–60/kg; Medium-quality rice (Paijam/Lata): Tk 60–67/kg; Fine rice (Nazirshail/Miniket): Tk 75–85/kg. These prices are Tk 3–5 higher than the previous week.
The Trading Corporation of Bangladesh (TCB) also reported a rise in rice prices. According to their data: Nazirshail/Miniket prices rose by 5.26%; Paijam/Lata increased by 8.70%; and IRRI/Swarna saw a 9.52% increase over the past month
However, market checks indicate the real price hike may be even higher.
According to the Ministry of Food, there is no valid reason for the rice price hike. The government has sufficient stocks, with 1.764 million metric tons of rice and wheat in storage at the beginning of this fiscal year—around 300,000 metric tons more than the same period last year.
Haji Nizamuddin, General Secretary of the wholesale rice traders' association of Badamtoli and Babubazar—Dhaka’s largest wholesale markets—told The Daily Ittefaq that the rice market is now dominated by auto rice mills and corporate firms that are aggressively buying up paddy, causing price increases.
He also noted that current weather conditions are not favorable for rice production, further affecting the market. He urged the government to allow rice imports to stabilize the market.
Bogura, a key paddy and rice hub in northern Bangladesh, is also experiencing the impact. Md. Aminul Islam, President of the district rice mill owners’ association, said that paddy prices are high, resulting in a Tk 5–6 increase in rice prices per kilogram over the past three weeks. He stated that corporate firms have purchased thousands of maunds (1 maund = ~37.3 kg) of paddy while small millers face government scrutiny even when buying just 500 maunds. In 2022, Bogura had 2,035 rice mills; now, only around 750 remain operational, as small millers are unable to compete with the large corporations.
Aminul also noted that paddy supply in the markets has declined, and prices are high, reducing the chances of rice prices falling unless both government and private rice imports are initiated.
Other Market Updates:
Soybean Oil:
The price of bottled soybean oil has increased. A 5-liter bottle now sells for Tk 910–920, up Tk 30 from last week. A 2-liter bottle rose by Tk 5 to Tk 375–378.
Onions:
Local onion prices rose by Tk 5 per kg, now selling at Tk 55–60.
Fish and Meat:
Prices of fish and meat have mostly remained stable:
Farmed Katla and Rui: Tk 280–450/kg (depending on size); Pabda: Tk 350–450; Koi: Tk 230–270; Shing: Tk 350–450; Shrimp: Tk 650–950; Coral: Tk 550–750; Hilsa: Tk 2,200–2,400 (out of reach for low-income groups); Beef: Tk 750–800; Mutton: Tk 1,100–1,250; and broiler chicken remains relatively affordable at Tk 155–170/kg
Vegetables:
Prices rose slightly:
Pointed gourd and okra: Tk 40–50; Ridge gourd: Tk 60–70; Eggplant and bitter gourd: Tk 60–80; and ash gourd and bottle gourd (varies by size): Tk 50–60.
Source: Click Ittefaq
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