Beef price returns to Tk 700 a kg after election

The meat traders and farmers lowered the beef price to Tk 650 per kilogram (kg) around a month before the national election, which relieved the pressure on consumers to some extent.

But the good days seem to have disappeared with the elections, as the beef price returned to the previous level of Tk 700 per kg immediately after the polls. The traders attributed the hike in beef price to a scarcity in cattle supply.

Consumers were found purchasing each kg of beef at Tk 700 at Palashi, New Market, and Karwan Bazar kitchen markets in Dhaka on Sunday. The traders were raising the price roughly by Tk 50 for the choosy consumers who ask for high-quality meat.

Still, some traders, though in a minimal number, were selling beef at Tk 650 per kg. At such shops, consumers have to compromise both the quality and quantity as the low-priced beef contains bone and fat to a higher extent.

Tapan Munshi, a trader at Palashi kitchen market, said if they provide high-quality meat, even the rate of Tk 700 a kg results in a loss for them. He also said their sales started to decrease after the price rise.

Golam Rahman, president of the Consumer Association of Bangladesh (CAB), blamed the traders' tendency to make a handsome profit for the high price of beef.

"The traders were seen adopting restraint to some extent marking the election. However, they turned active again after the election. Hence, the government should take immediate steps to control the market," he added.

Conversations with stakeholders revealed that the sales decreased to a significant extent when the beef price was high. The recent price fall pulled up the sales in the kitchen markets, with consumers lining up at some places to purchase beef.

However, the scenario did not last more than a month as the sellers raised the beef price, citing the high expense on cattle.

Golam Mortuza, president of the meat traders association, shed light on another issue that some have already started hoarding cattle for Eid-ul-Azha. Hence, there is no cattle in the market at low prices. The situation reached such a level that they are failing to meet both consumers' demand and business requirements.

But Shah Imran, general secretary of the Bangladesh Dairy Farmers Association (BDFA), dissented from the view and said the cattle price should not rise within a month given the unchanged production cost.

At the same time, it cannot be said that there is a crisis in the supply chain, he said, adding some farmers, however, pulled out from farming due to the repeated rise in fodder price.