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Volatile market upsets customers

Published : Saturday, 31 December, 2022 at 12:00 AM  Count : 483

The prices of essential products were unstable all year round. The prices of almost all products including rice, lentils, oil, flour and sugar have increased. Even though the government fixed the price of edible oil and sugar, it did not affect the market.
Common people are desperate to get OMS of the Trading Corporation of Bangladesh (TCB) products as they are available at slightly lower prices than the market price.
Egg prices also broke all-time records. Inflation has been around 10 per cent. In other words, the price of everyday products has affected the common people throughout the year.
According to sources, flour prices have almost doubled in the span of a year. In December 2021, the market price of this daily essential product was Tk 40 to Tk 45 per kg. And in one year, it increased and the price stood at Tk 75 to Tk 80.
That is, the price of the product has increased by more than double in one year. Apart from this, the price of loose flour has increased by 74 per cent. A year ago, the price of loose flour was Tk  38, now it has increased to Tk  65. As a result, buyers  are breathing heavily while buying flour. The Russia-Ukraine war and the instability of the dollar market have destabilized the flour market, analysts said.
The price of rice has increased by Tk 10 to Tk 12 per kg: At this time last year, coarse rice of any variety could be bought for Tk 46 to Tk 48 per kg. Now it has increased by Tk 10 to Tk 56 to Tk 58. At some markets it is selling at Tk 60. On the other hand, the price of fine rice (miniket) was between Tk 60, which is now Tk 70 to Tk 75. The price of fine nasirshail has reached Tk 80 per kg.
Similar information is provided by the government-run Trading Corporation of Bangladesh (TCB).
According to the agency, the price of rice has increased by 6 to 8 per cent in terms of value over the year. Although the official data of rice production says that the country is producing more paddy. Last fiscal year (2021-22) rice production in the country was Tk 3.68 crore tonnes. Production is close to this in the current season as well. According to that, there should be a surplus of about 15 to 20 lakh tonnes of rice in the country every year.
Sources said that oil and sugar prices have increased to all-time
records this year. Again, the companies created a crisis by stopping the supply to increase the prices. The government has also repeatedly fixed prices, but most of the time it has not been effective. According to TCB, soybean oil prices in the market are now 22.5 per cent higher than last year. And the price of sugar has increased by 45 per cent. Last year, the price of a kg of sugar was around Tk 75, but now it is Tk 115. Meanwhile, refining companies have repeatedly increased the price of oil and sugar throughout the year. However, there was always ambiguity as to whether the fixed rate was sanctioned by the government.
But amid the silence of the Ministry of Commerce on the price hike, oil refiners have themselves hiked prices and sold their product at various prices throughout the year. Although the price has been set by the government, the traders  have hesitated to sell at that price. But if the price increases, it becomes effective from the next day.
Sources said that other import-dependent products like atta, oil, sugar, dal market also got heated recently. Prices of almost all types of pulses have increased in the market since November. In the retail market, the prices of different types of pulses have increased by Tk 20 to Tk 40 over the year.
According to TCB, the prices of large, medium and small lentils have increased by 15, 24 and 25 per cent per kg respectively in a one-year period. Now per kg lentil price is between Tk 100 to Tk 140 per kg, which was Tk 97 to Tk 110 last year. Lentils are available in the market as well as packaged lentils in supermarkets or big stores. Packaged lentils of different brands are being sold at Tk 150 to Tk 170 per kg, which was between Tk 120 earlier.
On the other hand, the price of gram has increased by 25 per cent over the year and has now reached Tk 80 to Tk 90, which was between Tk 65 to Tk 70 last year.
Flour prices rose by 50 to 53 per cent. In December 2021, the market price of flour was Tk 50 to Tk 55. And in one year, the price has increased and the price has increased from Tk 75 to Tk 85. That is, the price of the product has increased by more than 52 per cent in one year. Apart from this, the price of open flour has increased by almost 50 per cent. A year ago, the price of open flour was as high as Tk 50, now the price of flour has increased to Tk 72.
Beef prices remained high for the year till December. Tk 150 has increased in the space of one year. The price of all the fish was also high. In the middle of the year, like other fish, the price of Pangas, the least expensive fish, has also increased. Cultured Koi is now Tk 180, the price has increased by Tk 30 per kg. Tilapia used to be available for Tk 180, it is now Tk 220. It has been seen in the market that the price of fish has increased by 20 to 50 per cent over the year .
The price of local dry chillies per kg has gone up by as much as 120 per cent in the last one year. And the price of imported dry chili has increased by 72 per cent per kg. At this time last year, the price of local ginger was Tk 100 per kg. Now the buyers have to buy that ginger at the rate of Tk 220 per kg. That is, compared to last year, the price of this country has increased by 91 per cent. And the price of imported ginger at the rate of Tk 70 per kg has increased to Tk 150.
According to TCB, the price of this product has increased by 84 per cent in the last one year. Cumin which was priced at Tk 350 to Tk 400 per kg has now increased to Tk 600 per kg.

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