Ramadan market trends: prices of some essentials surge, others hold 'steady'

Bangladesh Bank reports a 20-64 percent surge in imports of key Ramadan staples

As Ramadan approaches, the market tells a tale of mixed trends—some essentials have seen a price hike, while others remain "partially stable".

Shoppers and traders alike observe that key Ramadan staples such as dates, chickpeas, different types of lentils, gram flour, and sugar continue to enjoy steady prices and an uninterrupted supply.

The story takes a different turn for fresh produce, though, with the prices of lemons, cucumbers, and eggplants climbing, alongside fish and meat.

A key concern remains soyabean oil, particularly the bottled variety, which has been in short supply for over a month—an issue yet to be resolved even as Ramadan nears.

Despite assurances from the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association to improve availability by Wednesday, the market remains largely unchanged.

Traders credit the relative price stability of many other essentials to increased imports.

Data from Bangladesh Bank reveals a 20-64 percent surge in the import of key Ramadan commodities this year, a move that has helped cushion the impact of rising demand.

Between October and January, sugar imports reached 454,034 tonnes, up 20 percent from a year earlier.

Soyabean oil imports surged by 34 percent to 598,252 tonnes during the same period.

Lentil imports rose by 44 percent to 157,837 tonnes.

The import of chickpeas climbed by 64 percent to 97,555 tonnes, while onion imports increased by 2 percent, garlic by 20 percent, ginger by 56 percent, and dates by 23 percent.

Chickpeas are currently selling for Tk 110-120 per kg, the same price as last Ramadan.

In Dhaka’s markets, eggplants are selling at Tk 40-50 per kg, while gram flour costs Tk 120-140 per kg.

A market survey across Jatrabari, Shanir Akhra, Kaptan Bazar, Shantinagar, Karwan Bazar, and Mohakhali kitchen markets found that imported white sugar is selling at Tk 120 per kg, while brown sugar is priced at Tk 140-145 per kg.

At Karwan Bazar, Mohammad Rasel of M/s Amjad Traders is selling puffed rice at Tk 80 per kg.

"We sell at the price we buy. Red flattened rice is Tk 100 per kg, and neither puffed rice nor flattened rice has seen any price increase," he told bdnews24.com.

His shop is selling machine-processed white flattened rice for Tk 80 per kg.

Halima Khatun, who came to Karwan Bazar’s kitchen market after work to buy chickpeas and gram flour, told bdnews24.com: “The price of chickpeas had gone up two days ago. I saw reports about higher imports, so I waited. Today, I got it for Tk 110, which is Tk 20 cheaper.”

At Shantinagar’s Maa-Babar Doa Departmental Store, shopkeeper Raju Ahmed said: "Dubli lentils are Tk 70 per kg, but if someone bargains, I sell them for Tk 65. Everyone haggles, so I start a bit higher.”

At Karwan Bazar, Mohammad Rasel of M/s Hamza Traders sells different types of molasses.

“The best loose molasses costs Tk 200 per kg, while sugar-mixed molasses is Tk 160,” he told bdnews24.com.

His shop is selling sugarcane molasses for Tk 140 per kg and puffed rice for Tk 80 per kg, the same price as last year.

"We sold puffed rice for Tk 80 per kg last year too. Prices haven’t changed, and we don’t overcharge for molasses either," he said.

Abul Hossain of Mita Traders at Mohakhali Kitchen Market said, "Imported white sugar is Tk 120 per kg. Packaged sugarcane sugar costs Tk 145 per kg, while loose sugarcane sugar is Tk 140 per kg."

According to the Trading Corporation of Bangladesh, or TCB, chickpeas were priced at Tk 110-120 per kg on Thursday, compared with Tk 95-110 a year ago.

Anchor lentils were priced between Tk 60-80 per kg depending on quality, while last year, they ranged from Tk 75-80 per kg.

Shahin Sarker of AR Raihan Enterprise in Karwan Bazar confirmed these prices for lentils and chickpeas.

Last year, importers faced a 100 percent margin requirement due to the foreign currency crisis. Frequent fluctuations in the exchange rate also drove up costs.

To ease Ramadan supply concerns, the central bank had relaxed the margin requirement on imports of eight key items—chickpeas, lentils, peas, onions, edible oil, spices, sugar, and dates.

This year, importers were allowed to open letters of credit, or LCs, based on bank-client relationships, without any mandatory margin, according to Governor Ahsan H Mansur on Feb 16.

Rezaul Karim, general manager of the Foreign Trade Division at state-owned Janata Bank, told bdnews24.com: “The central bank has instructed banks to allow imports without requiring any margin. Customers have been able to open LCs with the lowest possible margins, and there have been no issues with dollars.”

Masrur Arefin, managing director of private-sector City Bank, said: "We followed the central bank's directive and provided LC facilities to traders with a 5 percent margin."

MEAT, FISH PRICES SOAR

The price of meat had risen by Tk 20 to Tk 30 per kg during Shab-e-Barat but dropped again after two days.

However, prices have surged once more ahead of Ramadan.

Broiler chicken is now selling at Tk 210-230 per kg, while Sonali variety costs Tk 330-350.

Just two days ago, broiler chicken was priced at Tk 190-200 per kg, and Sonali was within Tk 330.

Red layer chicken is also being sold at Tk 300 per kg, white layer at Tk 290, and local chicken at Tk 560.

Beef prices have gone up by Tk 40-50 per kg compared with last week, now standing at Tk 780-800 per kg.

Mutton has risen by Tk 50 per kg, now selling at Tk 1,200.

The prices of some fish have also increased by Tk 20-30 per kg.

At the Niketan kitchen market, 500g hilsa is priced at Tk 1,000, while 700-800g cost Tk 1,500, and 1kg hilsa is being sold at Tk 2,000.

The price of rui fish has risen by Tk 20-30, now ranging from Tk 380 to Tk 450 per kg, while prawn is priced between Tk 780 and Tk 1,200.

Large katla fish costs Tk 350-420 per kg.

SOYABEAN OIL CRISIS PERSISTS

The soyabean oil supply crisis that began a month ago has not eased, even with the arrival of Ramadan.

Most of the available oil in the market comes in two- and five-litre bottles, increasing the demand for loose soyabean oil, which is being sold at Tk 165-170 per litre.

The government-set price for bottled soyabean oil is Tk 175 per litre and Tk 850 for five litres.

On Feb 16, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association said there would be no edible oil shortage during Ramadan and that newly imported oil would arrive in the market within seven to ten days.

However, 12 days have passed since their statement, and the supply has yet to stabilise.

The shortage of soyabean oil has led to an increased demand for palm oil.

Two types of palm oil are available in the market: lower-quality oil that solidifies quickly after cooking is sold at Tk 150 per litre, while superior-quality super palm oil is priced at Tk 320 for two litres.

A five-litre bottled version is being sold at Tk 850.

Ali Hossain, proprietor of Ali Store in Karwan Bazar, told bdnews24.com: “We don’t get as much bottled oil as we need. How can we sell it? People are buying palm oil instead.”

A shortage of good-quality loose soyabean oil has also been reported.

While it is available, traders say the supply does not meet demand.

Ali said, “If we order four cartons, we only get two. Dealers deliver just once a day.”

Mohammad Biplob, a dealer of a soyabean oil company at Karwan Bazar, told bdnews24.com: “The company says oil will be supplied daily in small quantities to ensure everyone gets some.

“The government’s consumer protection authorities have also instructed that oil should be distributed fairly,” he said.

Consumer rights officials carried out an inspection at Karwan Bazar on Thursday and shut down three shops after discovering bottled oil produced a year ago.

The shops were reopened in the evening after the owners signed undertakings.

Mohammad Mizan of Haji Mizan Enterprise told bdnews24.com: “A drum of oil costs Tk 3,400. If we sell good-quality loose soyabean oil at Tk 200 per kg, no one will buy it, so we haven't stocked it.”

Abul Monsur, a buyer, said: “Bottled soyabean oil is unavailable, so I am buying two litres of super palm oil for Tk 320.”

At Mohakhali kitchen market, loose oil was seen being poured into old bottles and sold.

Jahangir General Store, a distributor of Teer soyabean oil, supplies oil in this market and surrounding areas.

Jahangir Hossain, the proprietor, told bdnews24.com: “There’s no issue with oil, but no one can get more than their allotted share. Everyone can buy daily.

“Company representatives monitor the stock, so I can’t hoard it. I pay, and the oil arrives,” he said.

While one-litre bottles are scarce in kitchen markets and major wholesale markets, they are readily available in department stores.

Shwapno’s Jatrabari Chantek branch has stocked one-, two-, and five-litre bottles of soyabean oil at government-set prices.

Similarly, Agora’s Bijoy Nagar branch has shelves filled with bottled oil.

Golam Mawla, president of the Bangladesh Wholesale Edible Oil Traders’ Association, told bdnews24.com: “We supply oil in drums, and you can find it everywhere. There is no shortage.

“More oil shipments are arriving, and fresh stock will be available in the market. Dealers can provide updates on bottled oil,” he said.

CRISIS EXTENDS BEYOND DHAKA

The same situation prevails outside Dhaka.

Digu Babur Bazar, the largest wholesale and retail market in Narayanganj city, is experiencing a severe shortage of bottled soyabean oil.

A few shops have oil but are selling it at inflated prices.

On Thursday afternoon, bdnews24.com visited 12 shops in the market.

Nine traders said they had no bottled oil, while three were selling it at Tk 20 more per litre than the official price.

According to traders, company dealers have not supplied soyabean oil for several days, leading to shortages.

In Chattogram, dates, sugar, chickpeas, and vegetables are in stable supply ahead of Ramadan, but soyabean oil is scarce.

On Friday, a severe shortage of soyabean oil was observed in different markets and neighbourhood shops across the port city.

Retailers claimed the crisis had persisted for nearly a month and worsened in recent days as suppliers stopped delivering oil.

A visit to Reazuddin Bazar, Chattogram’s largest wholesale market, found no soyabean oil available.

Kamal Hossain, proprietor of Tamim General Store in Reazuddin Bazar, told bdnews24.com: “We haven’t received any soyabean oil for the past month. Suppliers have stopped delivering in recent days.”

[Writing in English by Arshi Fatiha Quazi]