The aroma of polao rice, rather than enticing consumers, is now leaving them in shock as prices have soared past the Tk200 per kg mark.
Traders report that prices have been climbing for the past six months, increasing by Tk80 to Tk 90 per kg during this period. However, a sharp rise of approximately Tk40 occurred in just the last week.
Simultaneously, the price of green chillies has surged due to crop damage caused by floods and heavy rainfall, crossing Tk400 per kg in Dhaka’s markets. Finding any vegetable below Tk100 per kg has also become increasingly difficult.
In the markets, packaged aromatic rice (Chinigungra or Kalijira) is retailing between Tk210 and Tk230 per kg, depending on the brand. Loose aromatic rice is being sold for Tk160 to Tk200 per kg based on quality.
Corporate control and export approvals
Md Jamil Hossain, a rice trader at Messrs Rice Mill in Karwan Bazar, told Times of Bangladesh that the price of a 50kg sack has risen by Tk4,000 to Tk5,000 over three months, with an increase of nearly Tk1,000 in the last week alone. A 50kg sack currently costs Tk10,200.
Bachchu Mia, proprietor of Chandpur Rice Agency in Tejgaon, noted that mill-gate prices for rice are between Tk200 and Tk204 per kg, a significant jump from the Tk156 to Tk163 range seen in June.
Traders attribute this abnormal price hike to the Ministry of Commerce’s decision to approve rice exports and the market being controlled by a few companies. Bachchu Mia claimed the market is dominated by 10 to 12 large corporate institutions that hoard paddy to create artificial crises and subsequently hike prices at will.
Mill owners and large corporations, however, argue that prices rose following news of aromatic rice exports. In June and July, the Ministry of Commerce approved the export of 45,320 tonnes of aromatic rice by 278 institutions, with a deadline of 31 December.
The pace of the price hike intensified following this government decision.
Rafiq Uddin, who purchased a kilogramme of Chinigungra rice for Tk190 at Merul Badda market, expressed his frustration. “I used to hear that Hilsa fish was expensive because it was exported. Now I see polao rice exports have started; is that why the price is rising like this?” he asked.
Vegetable prices causing distress
The soaring costs of vegetables and green chillies are causing the most distress to the general public. Within a week, green chilli prices have “hit a century” multiple times to reach Tk 400 per kg.
At Karwan Bazar, wholesale trader Md Ramim stated that 250g of chillies is selling for Tk 100, while 100g costs Tk 40. Small discounts of Tk 20 to Tk 30 are offered if customers buy half a kilogramme or more.
Sudhir Mia, a vegetable vendor at Merul Badda, noted a Tk100 per kg increase within a week. Prices were Tk280 to Tk300 last week and Tk 180 to Tk200 the week before.
In Malibagh market, round brinjals are selling for Tk150 to Tk160 per kg. Seller Md Imon remarked that almost no vegetable, except for one or two items, is available for under Tk 100.
While sweet pumpkin and papaya remain slightly cheaper, items like string beans, taro, pointed gourd, and sponge gourd are selling for Tk 65 to Tk 80 – prices that were within Tk 20 just 15 to 20 days ago.
Ashfaq Islam, a shopper in Malibagh, lamented, “There hasn’t been rain for a few days, yet brinjal is Tk 150 and green chillies are touching Tk400!”
Sumana Begum from Merul Badda added that one now needs a bag full of money just to buy a single polythene bag of vegetables. Consumer Al Shafi Mahmud expressed anger after spending Tk 300 on only papaya, ash gourd, and snake gourd.
The price of eggs and fish has also climbed. Farm chicken eggs are selling for Tk 145 to Tk 155 per dozen, an increase of Tk 10 to Tk 15 from last week.
Heavy rain damages crops
Traders blame recent continuous rainfall and waterlogging for the market situation. In Madhukhali Upazila of Faridpur, summer chilli cultivation in Raipur, Jahapur, and Megchami unions has been severely damaged.
Md Mahbub Elahi, the Madhukhali Upazila Agriculture Officer, stated that chillies were cultivated on 3,112 hectares across the district, with 2,720 hectares in Madhukhali alone. However, nearly three-quarters of the plants have been destroyed by rain.
Farmer Ratul Ahmed from Pabna reported a loss of Tk 50,000 after half of his two-acre onion crop rotted in the rain.
Tariqul Islam, a truck driver transporting vegetables from Pabna and Faridpur, explained that because purchase prices at the local hubs (mokams) are high, good quality onions cannot be sold for less than Tk65 in Dhaka.
