Business Desk :
Wholesalers in Dhaka and millers in the countryside are blaming each other for a hike in prices of rice in the capital amid a bumper production while a government official says a rise in paddy prices by farmers led to the staple getting costlier.
The traders in Dhaka claimed the millers had raised prices before Eid-ul-Azha, but the millers suspect the wholesalers are manipulating the market, reports bdnews24.com.
According to the Trading Corporation of Bangladesh (TCB), rice prices have increased by around 15 per cent in a year.
But retailers on Friday said they were selling the coarse varieties of the staple at Tk 50 per kg and fine varieties at Tk 60 to Tk 70, at least Tk 2 higher than the rates shown on the TCB website. In the wholesale markets, fine variety Miniket rice was being sold at Tk 2,950 per sack of 50 kg, or Tk 59 per kg, and coarse variety at Tk 2,150 per sack or Tk 43 per kg.
Wholesaler Rassel of West Agargaon, who gave a single name, claimed rice prices have been raised by the millers by up to Tk 200 per sack, or Tk 4 per kg since the first week of July.
But Layek Ali, general secretary of Bangladesh Auto Major Husking Rice Mill Owners Association, said they were selling a coarse variety of rice at Tk 41 per kg and fine variety at Tk 52.
Layek’s accounts mean rice prices increase by up to Tk 7 per kg from the mills to the wholesalers and then by a further Tk 11 in the retail market.
“The reasons behind these huge gaps will be revealed if the authorities collect information from the wholesalers and retailers,” he said, claiming they give accounts of paddy purchase, rice sell and stock to the government every 15 days.
According to the food ministry, Bangladesh has 1.3 million tonnes of rice in stock, so there should not be a price hike. “Although we had a bumper paddy production this year, the price is very high. That’s why rice prices have gone up,” said Food Secretary Mosammat Nazmanara Khanum, citing the millers.
“For this reason, we’re 300,000 tonnes short of fulfilling the target of collection. We’re continuing to import rice and trying to import more through the private sector.”
