Spice market booms ahead of Eid

As Eid-ul-Adha approaches, Bangladesh's spice market has become increasingly busy with demand rising across the country for cooking, preserving and distributing sacrificial meat among relatives and neighbours.

In particular, sales of cumin, cardamom, cinnamon, cloves, black pepper, dried chili, coriander, and mixed spices have risen significantly.

Some spices are selling at lower prices that last year. However, consumers expressed concerns over higher retail prices and the spread of adulterated spices. In this circumstance, the government intensified anti-adulteration drives alongside regular inspections of wholesale and retail markets. 

Rising demand in the market

Visits to Karwan Bazar, Chawkbazar, and Rampura markets in Dhaka showed increased crowds in both wholesale and retail markets ahead of Eid. 

Traders say that every year demand for spices surges during the Qurbani season due to increased cooking activities.

Currently, depending on quality, cumin is selling at Tk600-700 per kg in Dhaka's retail markets, cinnamon at Tk450-600, cloves at Tk1,400-1,600, and cardamom at Tk4,600-5,500. Dried chili powder is selling for around Tk500, coriander powder for Tk200-280, and black pepper for Tk1,000-1,200 per kg.

According to traders, prices of cumin, cinnamon, cloves, and chili have increased slightly over the past month. They attribute the rise to higher import costs, a stronger US dollar, and increased transportation expenses. 

Prices lower than last year for some products

Despite complaints about higher retail prices, the prices of some spices have actually declined compared to last year. Before Eid-ul-Adha last year, cumin sold at Tk700-1,100 per kg, while this year it is being sold at Tk600-700.

Similarly, prices of some varieties of cardamom and cinnamon have also decreased. Last year, cardamom prices rose above Tk4,200 per kg. This year, depending on quality, cardamom prices range between Tk3,800 and Tk5,200, while supply remains normal. 

Traders say the international market has become somewhat stable, helping keep cardamom prices under control.

In the case of cinnamon, Chinese broken cinnamon is currently selling at Tk340-400, while whole Vietnamese cinnamon is priced between Tk420 and Tk600. Prices for both types are slightly lower than last year.

On the other hand, black pepper prices have increased. Last year, black pepper sold for around Tk950 per kg; this year the price has risen to around Tk1,030. 

However, white pepper prices have dropped slightly to Tk1,220 per kg.