Fine-grain rice prices amount to fines, vegetables pile on the sentence

New rice supply has failed to ease prices

The arrival of BRRI-28 rice in the market despite old stocks has failed to ease prices, with finer rice varieties rising by up to Tk 5 per kg within a week, while coarse rice prices have remained largely unchanged.

Visits to Shantinagar, Segunbagicha and Jatrabari markets in Dhaka on Friday, the weekly holiday, revealed this picture.

In these markets, locally produced Nazirshail rice is selling at Tk 88 to Tk 90 per kg, compared to Tk 85 a week ago.

Traders say prices of rice supplied by large sellers or corporate companies have risen the most, while rice prepared by smaller millers or traditional husking mills has gone up by Tk 1 to Tk 2 per kg.

At the Segunbagicha market, locally produced Nazirshail is selling at Tk 88 to Tk 90 per kg. Previously imported Indian Nazirshail is being sold at Tk 85 per kg, up from Tk 80 a week earlier.

Faruk Ahmed, director of Hanif’s Rice Traders in Jatrabari, said they are selling miniket rice from a local company at Tk 75 per kg, which was Tk 70 last week.

According to the Department of Agricultural Extension, Bangladesh’s annual rice demand stands between 37 million and 39 million tonnes.

Traders said a larger share of rice supplied to Dhaka markets now comes from corporate companies rather than millers from different districts.

Over the past decade, four to five large companies have entered the rice market, offering rice in 5 kg to 50 kg bags.

Prices of the BRRI-28, commonly known are large grain rice, have not increased much. With new rice arriving, shopkeepers are selling it at up to Tk 6 per kg less than old stock.

BRRI-28 rice is selling at Tk 54 to Tk 55 per kg, while old stock is priced at Tk 60.

Prices have also increased for Paijam rice. At Segunbagicha on Friday, it was selling at Tk 65 per kg, up Tk 1 from a week earlier.

Another variety under the BRRI-28 category is Guti Swarna, selling at Tk 60 per kg on Friday, compared to Tk 54 to Tk 55 a week earlier.

The price hike is also reflected in the daily market price report of the state-run Trading Corporation of Bangladesh (TCB).

According to TCB data on Friday, large grain rice was selling at Tk 60 per kg in various markets across Dhaka, up from Tk 54 to Tk 55 a week earlier.

VEGETABLES NOT GETTING CHEAPER

Despite no reported supply shortages, prices of winter vegetables have not fallen. Instead, prices of tomatoes, turnips, beans and aubergines have increased.

At Segunbagicha kitchen market, turnips are selling at Tk 40 per kg, up from Tk 30 a week ago.

Local tomatoes, which sold at Tk 80 to Tk 90 per kg last week, have climbed to Tk 100, vendor Nur Islam said.

At the start of the season, tomato prices had reached Tk 120 per kg before dropping to Tk 70-80 two weeks later.

In Jatrabari, green chillies continue to sell at Tk 120 per kg. Large round aubergines have risen by Tk 10 to Tk 70 per kg.

While seeded hyacinth beans remain available at Tk 60 per kg, prices of other varieties of beans have increased. Seedless hyacinth beans, which dropped to Tk 30 per kg last week, were selling at Tk 40 on Friday.

Prices of bitter gourd remain unchanged at Tk 80 per kg, cauliflower is selling at Tk 20 per head, and a bundle of spring onions costs Tk 20, similar to last week.

Egg prices have also gone up. In Jatrabari, vendors raised prices by Tk 10 per dozen to Tk 120.