Mango prices rebound after Eid slump

Mango prices are rising following a recent slump that had resulted in losses for many traders.

Prices of the popular summer fruit had dipped sharply in many parts of the country during the 10-day Eid-ul-Azha holiday beginning on June 5, amid an increase in supply resulting from the early ripening of the fruit due to a heatwave.

The heatwave swept through 35 to 40 districts for five days starting June 8, according to the Bangladesh Meteorological Department. This forced growers to start plucking the fruit in large quantities.

However, as temperatures began to recede and demand in cities rose, prices witnessed an uptick, both in mango production hubs and in markets—most prominently Dhaka city.

Varieties such as Khirshapat (Himsagar) are now selling for Tk 2,500 to Tk 2,800 per maund (one maund equals around 37 kilogrammes), up from Tk 1,500 to Tk 2,000 during the holidays

During a recent visit to the Baneshwar market in Rajshahi, The Daily Star found mangoes at prices that had been prevailing prior to the Eid drop.

Varieties such as Khirshapat (Himsagar) are now selling for Tk 2,500 to Tk 2,800 per maund (one maund equals around 37 kilogrammes), up from Tk 1,500 to Tk 2,000 during the holidays.

Similarly, Lakkhanbhog is priced between Tk 1,300 and Tk 1,500, compared to less than Tk 1,000 earlier.

Fazli is being sold at Tk 1,200 to Tk 1,500, Ashwina between Tk 400 and Tk 800, and Amrapali at Tk 2,000 to Tk 2,500.

"In the past few days after the holidays ended, the cooler weather has helped reduce the pressure. The demand has returned, and prices are picking up again," said Halim Uddin, a mango seller in Baneshwar.

Umme Salma, deputy director of the Department of Agricultural Extension's Rajshahi office, echoed these observations.

"During the Eid break, there was a surplus of mangoes in the market due to the heat, but the number of buyers was low. Now the weather is more favourable, and prices are going up," she told The Daily Star.

Traders and growers said that during the Eid holidays, mango producers refrained from plucking the fruit, anticipating that there would be no market access, as transport arrangements were unavailable.

Mangoes are typically shipped via courier services, which were also shut down for several days. The heatwave put them in trouble, they said.

Sohel Rana, an agricultural entrepreneur from the Godownpara area of Sapahar upazila of Naogaon, has been tending to three mango orchards spread over 200 bighas of land.

He said that before Eid, he sold Amrapali mangoes at Tk 4,500 per maund, but prices have now fallen to less than Tk 2,500 per maund.

"Last year, Langra mangoes sold for Tk 3,000 to 3,500 per maund, but this year I'm forced to sell them for Tk 1,200 to 1,500 because they ripened too early," he said.

In his orchard, several varieties, including Khirshapat, Langra, Amrapali, and Nag Fazli, have ripened simultaneously.

"Even the Banana mango, which usually ripens at the end of the month, has already started to ripen. I've never seen such a situation before," Rana added.

"Due to the intense heat, many mangoes ripened. On top of that, banks and courier services were closed during the Eid holidays. As a result, there is now an oversupply of mangoes in the market, forcing us to reduce prices," he said.

However, after the Eid-ul-Azha holidays, mango prices have started to rise again.

According to yesterday's market rates, the price has increased by an average of Tk 300 per maund, he added.

Munjer Alam, another grower in Chapainawabganj, said, "Because so many mangoes ripened at once, prices have dropped sharply."

He said that Khirshapat mangoes should have sold for Tk 4,000 to Tk 5,000 per maund this season but are now being sold for Tk 2,000 to Tk 3,000 due to the fall in demand.

Ujjal Hossain, a wholesaler at Dhaka's Karwan Bazar, said he had bought Himsagar, Langra, Khirshapat, and Amrapali mangoes for Tk 2,500 to 3,500 per maund about 20 days ago.

"But due to the oversupply, I can now purchase the same mangoes for Tk 1,500 to Tk 2,000 per maund," he said.

Hossain added that on the 12th of this month, he had bought 18 maunds of mangoes at Tk 3,500 per maund but later had to sell them at Tk 1,900 per maund due to low demand.

"As a result, I incurred a total loss of about Tk 29,000," he noted.

However, the trader believes that prices are slowly beginning to rise following the Eid holidays and expects demand to increase further by the end of this month.