Rice market already upward; prices of egg, onion, vegetable and spice leap in a week

Prices of daily essentials — including eggs, onions, vegetables, and spices—have started to rise sharply in Dhaka's markets owing to dwindling stocks, traders say.

Within just a week, the price of onions has increased by Tk15–20 per kilogram, while eggs have gone up by Tk10 per dozen. The price of rice was already high.

The rising costs are exerting significant pressure on low- and lower-middle-income households.

Visits to kitchen markets in several areas of the capital, including Shahjadpur, Badda, Hatirpool, and Karwan Bazar, today (8 August) revealed that onions are now selling for Tk 80–85 per kg, compared to Tk 60–65 just a week ago. Traders say the rise is due to reduced volume of stock, not an actual shortage.

Talking to The Business Standard, a wholesale onion trader at Karwan Bazar, Babul Mia, said the price rise has stemmed from lower stocks of the bulb. "Every year around this time, onion prices tend to rise. Those who had stocked less are now out of supply, and those with larger stocks are selling it at higher prices."

Meanwhile, the prices of both eggs and chicken have also increased over the past week. A dozen brown farm eggs are now selling for Tk135–140 in Dhaka's retail markets, up from Tk125–130 last week. Broiler chickens are selling for Tk 170–180 a kg, while Sonali chickens are priced at Tk300–330 per kg.

Vegetable prices have remained high since July due to persistent rainfall. Most vegetables are now priced above Tk80 per kg.

Besides, green chillies are selling for Tk180–200 per kg, up from Tk80–120 just a month ago. Other vegetables such as bitter gourd, spine gourd (kakrol), and yardlong beans are selling for Tk80–100 a kg. Imported tomatoes are priced at Tk140–150 a kg, while the price of eggplants has increased by Tk20–30, reaching Tk100–120 per kg.

Spices are also seeing a noticeable increase in price. For instance, cardamom, which was previously selling for Tk400 per 100 grams, is now priced at Tk550–600. In addition, ginger prices have risen from Tk180 to Tk220–250 a kg.

Additionally, rice prices remain stubbornly high, showing no sign of decline. For the past one and a half months, rice has been selling at increased rates. According to the Trading Corporation of Bangladesh (TCB), coarse rice such as Swarna is currently retailing at Tk55–60 per kg in Dhaka. Medium-grain varieties such as BRRI-28 and Pajam are priced at Tk60–75, while fine rice such as Miniket and Nazirshail are selling for Tk75–85 per kg, depending on quality.

Though traders say the surge in prices is due to stock shortages, SM Nazer Hossain, vice president of the Consumer Association of Bangladesh, said otherwise.

"Food prices generally increase between August and October, but this year the hike is excessive. Despite high production, certain quarters are hoarding goods to artificially inflate prices. The government must investigate and identify why these prices are rising," he told TBS.