Eggplant price rises by Tk40 in just one day
Prices of some other Iftar staples hike too
Like every year, prices of Ramadan staples, like eggplant, cucumber, lemon, and potato, rose steeply in Dhaka's kitchen markets on the first day of fasting today (12 March).
Data from Dhaka's retail and wholesale markets shows that eggplant prices jumped to Tk100-120 from Tk70-80 per kg on the eve of Ramadan, a hike of up to Tk40 within a day.
Similar increases were seen for cucumbers (Tk80 to Tk100) per kg and lemons (Tk40-60 to Tk60-80) four pieces. And local cucumbers were sold for Tk140 per kg. Even potatoes, a staple food, saw a price increase of Tk5 per kg in the days leading up to Ramadan.
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Yummy Beguni (eggplant fritters) and potato chops are relied on by people throughout the fasting month as Iftar items. Capitalising on the surge in demand, prices of products skyrocket every year at the start of fasting.
While consumers face the brunt of the price hikes, no one is taking responsibility. Businesses point fingers at each other, while the government suspects collusion between unscrupulous businessmen.
The Directorate of National Consumer Rights Protection blamed the long and opaque supply chain for the price hikes. These Iftar staples pass through several middlemen before reaching consumers, each adding a markup.
The report cited an example of an eggplant seller in Karwan Bazar who bought eggplants for Tk60 per kg and sold them for Tk80, pocketing a profit of Tk20 per kg. But another vendor just 15-20 yards away sells eggplant at Tk45-50, after buying those for Tk35-38. Notably, the sellers lacked a trade license and proper receipts.
The Ministry of Commerce acknowledges the need for improvements in the supply chain and traceability of products.
Ahsanul Islam Titu, the State Minister for Commerce, expressed shock at the price hikes, particularly the price of lemons reaching Tk20 in Dhaka.
He called for improvements in the value chain and supply chain to address these issues.
The lack of regulation and transparency in the supply chain allows for unchecked price manipulation by middlemen. This ultimately hurts consumers, who are forced to pay exorbitant prices for essential vegetables during Ramadan.
The government is exploring solutions to address the unregulated market practices that contribute to Ramadan price hikes. Measures like requiring middlemen to obtain identity cards and trade licenses are being considered.
