Ramadan essentials see price hike despite higher imports

Although imports of key Ramadan commodities have increased compared to previous years, prices of several essentials are soaring in local markets. Within a span of one week, date prices have jumped by Tk50 to Tk100 per kg, depending on the variety. 

Besides, prices of sugar, chickpeas, lentils, onions, and garlic have increased, adding pressure on consumers.

Traders claimed that the prices hiked due to delayed clearance of goods at ports disrupted by recent strikes, and a surge in demand following the national election, insisting that overall stock levels remain higher than demand.

Key Ramadan items include rice, edible oil, sugar, lentils, onions, garlic, chickpeas, and dates. According to sources at the Ministry of Commerce, the demand for soybean oil during Ramadan alone stands around 3,00,000 tonnes. Sugar demand is estimated at 3,00,000 tonnes, onions at 5,00,000 tonnes, chickpeas between 1,50,000 and 2,00,000 tonnes, and dates between 60,000 and 80,000 tonnes.

Data from the National Board of Revenue show that in the past four months, Bangladesh imported 225,000 tonnes of onions, 3,70,000 tonnes of sugar, 47,000 tonnes of dates, 2,05,000 tonnes of lentils, nearly 4,00,000 tonnes of crude soybean oil, and 14 lakh tonnes of wheat.

Officials say imports of these products have nearly doubled compared to the same period last year. Besides, chickpea imports alone exceeded demand by 28%.

A visit to several major markets in Dhaka, including Karwan Bazar, Chawkbazar, and Moulvibazar, as well as Khatunganj in Chattogram, revealed that date prices have increased by Tk50 to Tk100 per kg within a week. 

In December, the government reduced import duty on dates from 25% to 15% with a view to keeping its market stable, but apparently the prices have risen.

Currently, loose dates are selling at Tk220 per kg, Zahidi at Tk260 to Tk280, and Dabbas between Tk550 and Tk570. Wholesale prices for these types have increased by at least Tk40 to Tk60 per kg.

Besides, Boroi dates are selling for Tk480 to Tk500 per kg, Kalmi at Tk700, Sukkari at Tk800, Mabroom between Tk850 and Tk1, 200, Maryam between Tk1,100 and Tk1,400, and Medjool between Tk1,200 and Tk1,500.

Arafat Hossain, a wholesale and retail date trader at Karwan Bazar, told The Business Standard that the price of Zahidi dates jumped Tk600 per 10-kg carton almost overnight, while Dabbas rose by Tk400 per carton. Some shipments were stuck at the port, reducing supply temporarily.

Touhidul Alam, general secretary of Chattogram Fruit Traders' Association, said Zahidi dates are currently facing a relative shortage compared to demand, claiming that a recent shipwreck involved a cargo containing dates, contributing to limited availability.

Moreover, some importers had delayed imports in anticipation of reduced duties, which also disrupted supply planning. "Apart from certain varieties, the overall market supply remains normal," he added.

Meanwhile, onion prices have risen by Tk10 per kg, sugar by Tk8 to Tk10, khesari lentils by Tk10, garlic by Tk20, and chickpeas by Tk4 to Tk8 depending on quality. Sugar is currently selling at Tk100 per kg, onions at Tk60, local garlic at Tk120, local lentils at Tk160, and chickpeas at Tk90 to Tk100.

Mohammad Mohiuddin, general secretary of Chaktai-Khatunganj Aratdar General Traders' Welfare Association, said there is no shortage of Ramadan-related products such as chickpeas, peas, and dates. 

"Imports of chickpeas have been abundant, and compared to last year, prices are actually lower," he claimed.

Blaming weak monitoring during the recent election period for the price hikes, SM Nazrul Hossain, vice-president of the Consumers Association of Bangladesh (CAB), said the administrative transition period created an environment where officials appeared disengaged, allowing unscrupulous traders to increase prices without facing regulatory action. As a result, general consumers are bearing the brunt of the instability.

Following the elections, foot traffic in markets has surged. Retailers say markets were relatively empty in the days leading up to voting, but now shoppers are crowding stores to purchase Ramadan essentials all at once.

At Karwan Bazar, Ahmed Ullah said he regularly buys dates, not just during Ramadan. "The price has increased by Tk60 per kg. I had gone to my village to vote, so today I came to buy everything for Ramadan in one trip."

Mamun Hossain, a grocery shop owner at the kitchen market, observed that prices are relatively stable this year compared to previous seasons. Business was slow for a few days due to the national election.