Spices, Other Essentials: Runaway prices put consumers in a tight spot
With the consumers already feeling the pinch of the soaring prices of essentials, most of the spices are becoming pricier ahead of the Eid-ul-Azha.
Within just a couple of days, the price of cumin has increased by Tk 120 per kg to Tk 940 per kg at the capital's Karwan Bazar wholesale market.
The spice was sold for Tk 380 per kg ahead of the Eid-ul-Azha last year, according to data from the Trading Corporation of Bangladesh (TCB).
The price of cinnamon has increased by 10.47 percent to Tk 500 per kg on average while the price of clove and coriander has soared by 37.78 percent to Tk 1,600 per kg and 62.96 percent to Tk 240 per kg respectively, showed the TCB's daily market report yesterday.
The prices of garlic and ginger have also gone up. The prices of both local and imported ginger have risen by 177.78 percent to Tk 400 per kg and 281.25 percent to Tk 330 per kg respectively on average compared to last year.
Retailers at Karwan Bazar yesterday sold local garlic for Tk 140 per kg and imported garlic for Tk 180 per kg. A week before the Eid-ul-Azha last year, the figures were Tk 60 and Tk 100 respectively.
These spices are essential ingredients for preparing dishes in the festival.
However, the price of cardamom has dropped to 2,500 per kg from Tk 3,000 last year, shows the TCB report.
Speaking to The Daily Star, Habibur Rahman Bablu, a small businessman in the capital's Farmgate, said he does not see any rationale for the increase in prices.
"Every year before the Eid, they [businesspeople] hike the spice prices and the government fails to control the prices," he said while buying spices at Karwan Bazar.
A retailer at Karwan Bazar, Muhammad Gofran, said people are buying less due to high prices.
"We sold raisins for Tk 350 per kg last year. Its price has now gone up to Tk 600 per kg," he said, adding that many customers refrain from buying cumin after learning about the price.
The price of green chilli has shot up within a week. Retailers were selling green chilli for Tk 250 per kg yesterday, up from Tk 150-Tk180 a week ago.
Manik Mia, a wholesaler at Karwan Bazar, buys green chilli from Manikganj and Nilphamari. He said the supply was affected due to floods in Nilphamari and a heatwave in Manikganj, leading to the rise in the price.
Enayet Ullah, president of Bangladesh Spice Traders' Association, said the price of cumin has soared in Syria and India, the main sources of cumin. The import cost has increased due to the devaluation of taka against the US dollar, he added.
He, however, refuted the allegation that a syndicate of businesspeople were behind the price hike.
CAB General Secretary Humayun Kabir Bhuiyan, at a press conference on Thursday, said some businesspeople are defrauding consumers of crores of taka.
"Though the government organisations concerned are working, their activities are having little impact on the prices of essentials and spices. The consumers are bearing the brunt of the price spirals."
He demanded the government take prompt actions to reign in the prices of essentials.
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