Rice prices are rising again

The price of different varieties of rice has started rising in the retail markets of Dhaka by at least Tk3 per kg.

In the capital, the price of Miniket rice was Tk52-53 per kg, but for the last two days, it is being sold at Tk54-56. 

Meanwhile, BR28 rice is being sold at Tk50 per kg, which was Tk46-48 even a week ago. Coarse rice was being sold at Tk44-45 per kg, which has increased to Tk46-48.

Abdul Hakim, a private employee who came to Karwan Bazar to buy rice, said, "The price of rice went up only a month and a half ago. This time the price went up yet again. The Miniket that I used to buy for Tk52 had to be bought at Tk54 today."

Vendors say the rise in rice prices is due to higher prices in the wholesale market.

Shariful, a retailer at Sumon Traders in Rampura Bazar, said, "The price of all rice has gone up in the wholesale market. That is why the price has gone up by Tk2-4 per kg in the retail market."

Siddiqur Rahman, a wholesaler at Allah Dan Rice Agency in Karwan Bazar, said the millers had raised prices as the price of paddy has gone up.

Talking to wholesalers, The Business Standard has learned that a 50-kg sack of Miniket rice is being sold at a wholesale price of Tk2,500 – which was Tk2,350 before – showing an increase of Tk150 per sack.

Similarly, BR28 rice sacks are being sold at Tk2,150, which was Tk2,050 and coarse rice sacks at Tk2,100 – which was Tk1,950.

A recent study by BRRI revealed that with the Boro paddy yield this season, 55 lakh tonnes will remain surplus even after meeting the demand till November. However, the price of rice is increasing after a few days.

Responding a query, Layek Ali, general secretary of Bangladesh Auto Major and Husking Mill Owners' Association, claimed that the price of paddy is now high. Millers are facing more expenses after buying paddy at this price. 

"For this reason, there is no alternative to increase the price of rice," he added.

Meanwhile, on Thursday's market analysis by the Trading Corporation of Bangladesh (TCB) shows although the prices of eggs and broiler chickens have come down, the prices of potatoes have gone up. 

Potatoes are being sold at Tk35-40 per kg, which was Tk32-35. Potato prices have risen by 15.36 percent in a week.