CHATTOGRAM, May 6: The spice market has started to become unstable targeting to Eid-ul-Azha.
The price of cumin, coriander, pepper, cinnamon, ginger, garlic, onion, bay leaf has doubled per kg.
Traders claimed that spice prices are rising due to increased booking rates in the global market, stoppage of imports from India and reduced supply.
However, consumers say that the traders are increasing the price of essential spices in advance as they cannot increase the price before Eid-ul-Azha. They are doing so because if they have to reduce the price under the pressure of the government agency, they can reduce it by keeping a large amount of profit.
On Saturday morning, a visit to Khatunganj, the largest consumer goods market in Chattogram, showed that, two months ago cumin was Tk 320 per kg, now it is Tk 730. Coriander increased by Tk 72 per kg to Tk 190 per kg, pepper increased by Tk 97 per kg and sold at Tk 1,000 now, cinnamon increased by Tk 30 per kg and sold at Tk 545. Bay leaves are being sold at Tk 208 per kg which was Tk 138 two months ago.
Per kg mustard is being sold at Tk 354, fenugreek at Tk 120 to Tk 160, potato bokhara at Tk 480 to Tk 504, raisins at Tk 442 to Tk 470, wood nuts at Tk 732 to Tk 760, cashew nuts at Tk 819 to Tk 950, pistachio at Tk 2660 to Tk 2,743 and panch phoron at Tk 152 to Tk 210. All these spices have increased by Tk 50 to Tk 65 per kg.
Clove,cardamom prices have increased the most among the spices. Cloves and cardamom have increased up to Tk 300 and Tk 400 per kg in a span of two weeks. Currently, cardamom is selling at 2,610 and cloves at 1,790 per kg.
Ginger was sold at Tk 120 per kg in Khatungonj during the Eid-ul-Fitr. A week ago, ginger was sold at Tk 140 per kg. Currently the product is being sold at Tk 180 per kg. Local garlic has increased by Tk 50 per kg during the week. At present, local garlic is being sold at Tk 150 per kg.
On the other hand, the import of Indian onions has been closed since March 15. At the end of Ramadan , local onions were sold at Tk 35 per kg. Even a week ago, the product was sold at Tk 42 per kg. At present, local onions are being sold at Tk 50 per kg.
Mohammad Mohiuddin, general secretary of Chaktai-Khatungonj General Traders Welfare Association, said, "Due to the stoppage of onion import from India, the price of local onion is high. But there is enough supply of local onions in the market. Besides, due to less import of ginger, the price is a little higher. Now ahead of Eid-ul-Azha, ginger is being imported from China and Myanmar. The price is less likely to increase."
Mohammad Idris, general secretary of Hamidullah Miah Market in Khatungonj, said "The booking rate in the international market has doubled in two weeks. Therefore, the price of imported spice products is increasing. If the supply increases, the price of spices will come under control."
Vice President of Consumers Association of Bangladesh (CAB) Chattogram SM Nazer Hossain said to the Daily Observer, "The traders are not able to increase the price of spice products on any pretext under the pressure of the administration for several years. Now the traders are increasing the prices of the products in advance. So that if they want to reduce under the pressure of administration, they can reduce by keeping extra profit."
Mohammad Anisuzzaman, assistant director of the Directorate of National Consumer Rights Protection, said to the Daily Observer, "We conducted raids every day during Ramadan. It will be maintained on Eid al-Azha. We will check the import price, sale price to keep the market price normal. Any kind of manipulation will be strictly dealt with.
