Rice prices up by Tk 2-3 a kg

Prices of almost all varieties of rice have gone up in the capital's kitchen markets over the last one week.

Traders said rice prices have increased by Tk 50 to Tk 100 per 50 kg sack because of the price hike of paddy and the closure of rice mills for the Eid-ul-Azha.

The prices of the staple have soared at a time when the county has sufficient stock.

Visiting several markets in the capital yesterday, The Daily Star found that retailers were selling, depending on quality, Miniket rice for Tk 62 to Tk 68 a kg, Nazirshail for Tk 65 to Tk 78, BR-28 and BR-29 for Tk 54 to Tk 56, coarse grain rice for Tk 54, and coarse hybrid rice for Tk 48.

Before the Eid on June 17, the retail prices of these varieties were lower by Tk 2-3 per kg.

Nayeem Hossain, a private service holder, said he had bought Miniket rice from a store in East Shewrapara at Tk 72 a kg before the Eid. For the same variety of rice, he had to pay Tk 75 yesterday.

Abul Hashem, owner of Hashem General Store at Ibrahimpur Bazar in Kafrul, said he sold Miniket rice for Tk 68 a kg a week ago, but the staple sold for Tk 70 yesterday. Similarly, the price of BR-28 rice has gone up to Tk 55 per kg from Tk 53 a week ago.

"The price hike in the wholesale markets is having an impact on the retail prices," he said.

Alamgir Hossain, manager of Suchana Rice at Mohammadpur Krishi Market, attributed the rice price hike to the increase in paddy prices.

He said the prices of Miniket and Nazirshail rice have gone up by Tk 100 per 50 kg, while the price of BR-28 rice has increased by Tk 50 per 50 kg.

Kamal Sarder, proprietor of Makbul Traders at Mirpur-11 kitchen market, said millers have hiked the rice prices gradually since the reopening of the mills after the Eid.

"Prices of paddy have been increasing for the last two-three days, but the millers started hiking the rice prices after the Eid," he added.

Chitta Majumder, owner of Majumdar Traders, a leading rice importer of the country, yesterday said that there was enough stock of rice and paddy in the country.

He said many farmers are not selling their crop now in anticipation of further increase in prices.

"The paddy we bought for Tk 1,300 per maund a week ago now costs Tk 1,380," he told The Daily Star.

He said even though rice is cheaper in India compared to Bangladesh, they cannot import the staple.

"This is because the selling price of the imported rice would be higher by Tk8-10 per kg than the price of a similar variety of local rice as we have to pay import taxes and VAT," he added.