Business Desk :
The prices of rice are rising again with per kg retail price increasing by more than Tk2 every day, standing at a total hike of around Tk10 in one just week.
Rice traders, millers, wholesalers and the government have given contradictory reasons behind such unusual price hike.
On Thursday, various markets in Dhaka sold Miniket rice at Tk66-68 per kg, a significant rise from Tk55, sold before Eid-ul-Azha. Coarse rise, which was sold at Tk40 per kg, is now being sold at Tk52-54.
People concerned said there was no control over rice prices. The price for lowest quality coarse rice has risen up to Tk54 and fine quality rice up to Tk70.
Between Wednesday and Thursday, prices soared by Tk3-4 in just 24 hours. Additionally, there was variation of prices in the same market itself. Traders said everyone was selling as they seemed fit in absence of government monitoring.
However, no one has been able to give a satisfactory answer regarding the difference in prices.
Rice traders and warehouse owners have blamed each other as well as the recent monsoon floods and excessive rainfall making road transportation difficult. They have also blamed complications at the ports and customs while importing for the price hike.
On the other hand, several government ministers have claimed that there was no shortage of rice in the state reserve, assuring people that warehouses in every district will be searched for rice hoarded by corrupt businessmen who are trying to create an artificial crisis and drive up the price more.
The blame game
When asked, traders said prices in retail market soared after warehouse owners did the same, and the latter blamed the rice millers, alleging low supply.
Mozammel Haque, a rice trader at Badamtoli-Babu Bazar wholesale market, told that “We sell to the retailers adding very few profits. There is no funny business going on, if there is then the millers are to blame for that.”
A miller in Naogaon, Habibur Rahman, disapproved, saying: “Millers are always blamed which is wrong. There is no rice in millers’ warehouses, since many lost their harvest in the flood. They do injustice to us when the government and others blame us.”
He further added: “The flash-floods in haor basin and subsequent floods across the country have severely affected the Boro and Aush harvest. They have to understand that.”
However, retail sellers blamed warehouse owners for the shortage of rice and called for stern monitoring by the government.
Owner of Swati Enterprises Shahidul Haque, a retailer at Karwan Bazar kitchen market, alleged: “The rice prices are high because of the millers and importers. They have hoarded rice in their personal warehouses. More rice will be found if those are raided.”
Regarding the issue, Commerce Minister Tofail Ahmed said: “Action will be taken against anyone trying to create artificial crisis. Warehouses across the country will be raided for rice illegally stored by millers and traders.”
The prices of rice are rising again with per kg retail price increasing by more than Tk2 every day, standing at a total hike of around Tk10 in one just week.
Rice traders, millers, wholesalers and the government have given contradictory reasons behind such unusual price hike.
On Thursday, various markets in Dhaka sold Miniket rice at Tk66-68 per kg, a significant rise from Tk55, sold before Eid-ul-Azha. Coarse rise, which was sold at Tk40 per kg, is now being sold at Tk52-54.
People concerned said there was no control over rice prices. The price for lowest quality coarse rice has risen up to Tk54 and fine quality rice up to Tk70.
Between Wednesday and Thursday, prices soared by Tk3-4 in just 24 hours. Additionally, there was variation of prices in the same market itself. Traders said everyone was selling as they seemed fit in absence of government monitoring.
However, no one has been able to give a satisfactory answer regarding the difference in prices.
Rice traders and warehouse owners have blamed each other as well as the recent monsoon floods and excessive rainfall making road transportation difficult. They have also blamed complications at the ports and customs while importing for the price hike.
On the other hand, several government ministers have claimed that there was no shortage of rice in the state reserve, assuring people that warehouses in every district will be searched for rice hoarded by corrupt businessmen who are trying to create an artificial crisis and drive up the price more.
The blame game
When asked, traders said prices in retail market soared after warehouse owners did the same, and the latter blamed the rice millers, alleging low supply.
Mozammel Haque, a rice trader at Badamtoli-Babu Bazar wholesale market, told that “We sell to the retailers adding very few profits. There is no funny business going on, if there is then the millers are to blame for that.”
A miller in Naogaon, Habibur Rahman, disapproved, saying: “Millers are always blamed which is wrong. There is no rice in millers’ warehouses, since many lost their harvest in the flood. They do injustice to us when the government and others blame us.”
He further added: “The flash-floods in haor basin and subsequent floods across the country have severely affected the Boro and Aush harvest. They have to understand that.”
However, retail sellers blamed warehouse owners for the shortage of rice and called for stern monitoring by the government.
Owner of Swati Enterprises Shahidul Haque, a retailer at Karwan Bazar kitchen market, alleged: “The rice prices are high because of the millers and importers. They have hoarded rice in their personal warehouses. More rice will be found if those are raided.”
Regarding the issue, Commerce Minister Tofail Ahmed said: “Action will be taken against anyone trying to create artificial crisis. Warehouses across the country will be raided for rice illegally stored by millers and traders.”
