Now sugar and egg prices on the rise

Though onion prices have started to calm down on the back of an increased supply, sugar prices are on the rise in Dhaka. 

Egg prices have also edged up by Tk12 per dozen in a week.     

Branded sugars were selling at Tk66-Tk68 per kilogram in the capital on Friday. The price was Tk60 in city kitchen markets even a month ago.

The price of loose (unbranded) sugar has also risen to Tk65 from Tk56-Tk58. 

Retailers said the manufacturers and importers have been raising the prices gradually for the last one month, affecting the wholesale and retail prices.

According to the Trading Corporation of Bangladesh, sugar prices have surged more than 8 percent in last one month. However, the prices are 21.23 percent less than that in the same period of the previous year. 

The government raised the duty on the import of raw sugar in the current fiscal year, prompting a hike in sugar prices. 

Mohammad Ali Bhutto, a wholesaler at Moulvibazar wholesale market in Dhaka, said sugar manufacturers and importers have been raising sugar prices by Tk0.20-0.25 per kilogram almost every week for last one month.    

"The prices rose by Tk3-Tk4 per kilogram at sugar mill gates. Therefore, we are selling the commodity at an increased price," said the wholesaler. 

According to Business Insider data, the price of one tonne of raw sugar was 309$ in the international market on Thursday, which was 287$ a month ago.  The price of the item is in an uptrend for the last two weeks.

Meanwhile, the prices of eggs have started to shoot up again after one-and-a-half weeks of a rather stable phase. 

One dozen of brown chicken eggs was selling at Tk102 in the city kitchen markets on Friday, which was Tk90 a week before. 

However, super shops were charging Tk24 more for a dozen of eggs.       

Arifur, a retailer at Karwan Bazar said the prices of eggs have spiked as a result of an increased demand.     

The demand for eggs rises during winter as people consume more eggs in various occasions like wedding and picnic in this season, said poultry industry insiders. 

However, the supply of the item does not increase in proportion to the increased demand, which results in a price hike, they added. 

According to the Bangladesh Poultry Industry Central Council, as many as 4.5 crore eggs are produced per day in the country.    

Shafikul, a boiled egg vendor at Karwan Bazar, said his sale remains dull in summer. 

"People eat more boiled eggs in winter," he said, adding that at present he sells 100-110 boiled eggs every day.    

In the meantime, the prices of onions have come down as newly harvested onions have arrived in the market. Locally grown onions were selling at Tk100-110 per kilogram on Friday. 

Imported onions of various categories were selling at Tk60-120 per kilogram.