High rice prices persist; Chicken, veggies see fresh hike

Highlights:

• Last week's wholesale price hike reflects on retail rice market
• Traders blame corporate hoarding for rising rice prices
• CAB says corporate control squeezes consumers, not farmers
• Vegetable prices rise by Tk10–20 due to rain-hit supply shortage
• Broiler chicken price rises to Tk160–170 per kg

Rice prices have remained stable at increased rates in Dhaka's markets following Eid, with a noticeable rise also seen in the prices of vegetables and chicken.

Following last week's wholesale hike of Tk4–8 per kg in rice, the higher prices have now taken hold at the retail level. At the same time, the prices of almost all types of vegetables have risen by Tk10–20 per kg.

Market vendors attribute the increase to supply disruptions caused by continuous rainfall.

During visits to several markets in the capital today (27 June), including Shahjadpur, Notunbazar, Badda, and Rampura, long beans, spiny gourd, and bitter gourd were found selling at Tk80–100 per kg.

Papaya, pointed gourd, cucumber, and okra were priced at Tk50–60, while sponge gourd and snake gourd were being sold at Tk60–80 per kg.

"Prices are high at the wholesale market. Compared to last week, almost all vegetables have increased by Tk10–20. Due to the rain, many cannot harvest vegetables on time. Some get spoiled. For this reason, prices increase," said Taijul Islam, a mobile vegetable vendor in Shahjadpur.

Rice prices have also risen sharply in recent weeks. In retail markets, Miniket rice is being sold at Tk80–82 per kg, up from Tk72–74 before Eid. Mojammel Miniket, previously priced at Tk75, is now being sold for Tk88–90 per kg.

Among medium-grain varieties, BRRI-28, BRRI-29, and Paijam have increased by Tk4 per kg and are currently selling for Tk60–64. Swarna, a coarse rice variety, has gone up by Tk2–3 per kg, and is now priced at Tk57–58.

Those involved in the agricultural sector have raised concerns over pricing practices.

According to them, farmers are not benefiting from the higher retail prices. Instead, prices are driven up after traders and corporate entities purchase paddy from farmers.

"Corporate entities are now controlling the rice market. They buy paddy from farmers at the very beginning. Then, after the paddy leaves the farmers' hands, they increase the price of rice," said SM Nazer Hossain, Vice-President of the Consumers Association of Bangladesh (CAB).

He added, "For the past few seasons, they have been influencing the rice market in this way. There is a daily demand for about 1 lakh tonnes of rice. So, if they increase the price by just Tk2 per kg, how much money are they taking from consumers' pockets?"

Traders in Dhaka allege that corporate groups and rice mills have raised prices even during the peak season.

They claim that these entities bought paddy at low prices over the past one to one and a half months, hoarded it, and are now raising prices by citing various reasons.

Meanwhile, in addition to rice and vegetables, chicken prices have also increased. Broiler chicken, which was selling at Tk150–160 per kg after Eid, is now priced at Tk160–170. The price of Sonali chicken has risen by Tk20 per kg, and is currently selling at Tk300–320.

Traders and consumers alike report pressure on household budgets as food costs continue to climb.