Anisul Islam Noor :
The prices of lentil, sugar and onion have increased by Tk 8 to 15 per kilogram (kg) in Dhaka and Chittagong in the last five days.
Onion price has increased by Tk five to eight per kg despite plenty of supply of onions in the markets. The price has been increasing though the harvest season is going on and import cost fell, the consumers informed.
The experts, however, are blaming market syndication for the hike. Local variety of onion was sold at Tk 35-40 per kg, which was Tk 30-35 a week ago based on quality.
Imported Indian varieties were traded at Tk 30-32 per kg.
Muksed Ali, a grocer of Fakirapoll kitchen market, told The New Nation that the onion price increased by Tk three to eight per kg day-on-day basis during the last five days.
He said that local onion was sold at Tk 1,640 per maund (40 kgs) at Karwan Bazar on Monday evening, which was Tk 1,450 per maund a week earlier.
Selim Ahmed, a trader of Karwan Bazar said that price was increasing in Faridpur and Pabna-the two major hubs of onion.
Locally produced lentil was selling at Tk 140 per kg, marking up by Tk 5 to 15 per kg in last five days. Traders blamed lack of supply for the rise in lentil price. They say that price is high even in the international market.
Meanwhile, to meet the excessive demand, the Trading Corporation of Bangladesh (TCB) has taken initiatives to import lentils. But it may take another 15 days for arrival of the imported lentils in the retail market.
Loose sugar was selling at Tk55 per kg, increased by Tk15 per kg in last three weeks as the government imposed duty on sugar import, aiming rapid sale of locally produced sugar’ product.
The government increased the import duty on both raw and refined sugar by imposing 15 per cent value-added tax and raised the tariff value of the product for protecting the state-run sugar mills.
Explaining the reason for the sudden spike in lentil price, General Secretary of Bangladesh Pulses Traders Association Safiqul Islam told The New Nation that, “Stock of domestic lentil has diminished. According to the agriculture extension office, onion production was 1.75 million tonnes last year against a national demand for 2.1 million tonnes.
Assistant Director of Department of Agricultural Marketing (DAM) Touhid Md Rashed Khan said, import cost of onion is now the lowest in two-years.
He said onion price in India, the biggest onion market in the globe, dropped to just US $104 from $140 per tonne in February. The Indian government has recently withheld their Minimum Export Price (MEP) condition following a two-year low price, he said.
The NBR on August 26, 2015 increased import duty on raw and refined sugar by Tk 5,000 and Tk 6,000 a tonne respectively on the same ground.
At that time, sugar price at the city’s kitchen markets increased by Tk five to Tk six due to duty hike. Officials said, the sugar price would be in tolerable level in local markets despite rising VAT.
The prices of lentil, sugar and onion have increased by Tk 8 to 15 per kilogram (kg) in Dhaka and Chittagong in the last five days.
Onion price has increased by Tk five to eight per kg despite plenty of supply of onions in the markets. The price has been increasing though the harvest season is going on and import cost fell, the consumers informed.
The experts, however, are blaming market syndication for the hike. Local variety of onion was sold at Tk 35-40 per kg, which was Tk 30-35 a week ago based on quality.
Imported Indian varieties were traded at Tk 30-32 per kg.
Muksed Ali, a grocer of Fakirapoll kitchen market, told The New Nation that the onion price increased by Tk three to eight per kg day-on-day basis during the last five days.
He said that local onion was sold at Tk 1,640 per maund (40 kgs) at Karwan Bazar on Monday evening, which was Tk 1,450 per maund a week earlier.
Selim Ahmed, a trader of Karwan Bazar said that price was increasing in Faridpur and Pabna-the two major hubs of onion.
Locally produced lentil was selling at Tk 140 per kg, marking up by Tk 5 to 15 per kg in last five days. Traders blamed lack of supply for the rise in lentil price. They say that price is high even in the international market.
Meanwhile, to meet the excessive demand, the Trading Corporation of Bangladesh (TCB) has taken initiatives to import lentils. But it may take another 15 days for arrival of the imported lentils in the retail market.
Loose sugar was selling at Tk55 per kg, increased by Tk15 per kg in last three weeks as the government imposed duty on sugar import, aiming rapid sale of locally produced sugar’ product.
The government increased the import duty on both raw and refined sugar by imposing 15 per cent value-added tax and raised the tariff value of the product for protecting the state-run sugar mills.
Explaining the reason for the sudden spike in lentil price, General Secretary of Bangladesh Pulses Traders Association Safiqul Islam told The New Nation that, “Stock of domestic lentil has diminished. According to the agriculture extension office, onion production was 1.75 million tonnes last year against a national demand for 2.1 million tonnes.
Assistant Director of Department of Agricultural Marketing (DAM) Touhid Md Rashed Khan said, import cost of onion is now the lowest in two-years.
He said onion price in India, the biggest onion market in the globe, dropped to just US $104 from $140 per tonne in February. The Indian government has recently withheld their Minimum Export Price (MEP) condition following a two-year low price, he said.
The NBR on August 26, 2015 increased import duty on raw and refined sugar by Tk 5,000 and Tk 6,000 a tonne respectively on the same ground.
At that time, sugar price at the city’s kitchen markets increased by Tk five to Tk six due to duty hike. Officials said, the sugar price would be in tolerable level in local markets despite rising VAT.
