Rice prices increase further in the peak season

People who have bought rice in the beginning of the month will be shocked if they go to market now at the end of the month as the price of rice has increased substantially in the last three weeks. The price of rice has increased by two to five taka in the last one week. Overall, the price of rice has increased by five to eight taka in the last three weeks.

We are passing through the peak season of the Boro crop. Usually, the prices of rice remain low during this time. However, the scenario is completely the opposite this year. Even Abdur Rashid, president of Bangladesh Auto Major and Husking Mill Owners’ Association, is surprised with the increase in the prices of rice.

Speaking to Prothom Alo, he said, “I have never seen the price of Miniket rice go up like this in my life. The big industrialists may have stockpiled rice and paddy. This might be a major reason behind the spike in the price of rice. In this case, government monitoring should be increased.”

In Naogaon, the price of rice has increased by Tk 200 to 300 per sack (50 kg) in the wholesale market in a week. In the rice hubs of Naogaon, the coarse rice (Swarna) is being sold at Tk 46 per kg, semi-fine rice (BR-28 and BR-29) at Tk 48 per kg, jeera non-shorter which is known locally as fine rice is being sold at Tk 60, jeera shorter at Tk 64 and katari non-shorter is being sold at Tk 70. The rise in the prices of rice in the wholesale market has affected the price in the retail market. The prices of coarse, semi-fine and fine rice have increased by Tk 3, Tk 2 and Tk 5 respectively.

Per kg Miniket rice was being sold at Tk 63 to 64 at the Khajanagar rice hub of Kushtia on Saturday. The price was 56 on 29 April. On the other hand, the coarse rice was being sold at Tk 47 to 48, medium fine rice at Tk 50 to 52, Miniket at Tk 65 to 66 and Nazirshail rice at Tk 78 to 80 at the markets in Mirpur-1 and the Krishi Market in Mohammadpur on Saturday.

At the retail level in the capital's Karwan Bazar, the prices of rice have increased by Tk 3 to Tk 4 per kg as compared to last week. After the rise in the prices, the Gutiswarna rice is being sold at Tk 53 to 54, BR-28 rice at Tk 54 to 55, Miniket at Tk 68 to 70 and Nazirshail rice is being sold at Tk 82 to 84.

Harun-ur-Rashid, general secretary of Mirpur-1 Rice Warehouse Multipurpose Cooperative Society, told Prothom Alo that the price of rice is constantly rising at the mill level. The rice mill owners are only talking about the increased price whenever the traders call to inform them about the demand of the rice.

The rice mill owners say that the production cost has also gone up due to the rise in the prices of paddy. Within just a week, the price per mound of rice has increased by Tk 80 to 200 based on the variety. Per mound of jeera paddy is being sold at Tk 1,340 to 1,360 based on its varieties (dried and weight).

Aminul Islam, who stores paddy in Madhuil Bazar, said that a part of the paddy was lost due to heavy rains just before the harvest. A competition has emerged among the rice traders to buy more paddy. As a result, the price of paddy is increasing every day.

The prices of almost all essential food items including lentils, oil, sugar and other daily necessities including soap, toothpaste have gone up. In such a situation, the increase in the price of rice is causing misery to the people.

[Our staff correspondent from Dhaka has helped make this report]

*This report appeared on the print and online versions of Prothom Alo and has been rewritten in English by Ashish Basu