The prices of almost all varieties of rice have been increasing over the past three weeks, despite the withdrawal of import duties and the inflow of rice imports.

During visits to several kitchen markets in the capital yesterday, including ones in Karwan Bazar, Mirpur, and Kazipara, this correspondent found that the price of fine rice rose by Tk 6-8, medium-quality rice by Tk 5-6, and coarse rice by Tk 2-3 per kg compared to three weeks ago.

Miniket rice is selling at Tk 75-85 per kg, up from Tk 68-78; Nazirshail rice at Tk 78-90 per kg, up from Tk 72-82; BR-28 rice at Tk 64-66, up from Tk 58-62; and Paijam at Tk 62-65, up from Tk 55-58 per kg.

Additionally, coarse rice (Guti Shorna) has risen by about Tk 2-3 per kg. Three weeks ago, its price was Tk 50-52 per kg, but buyers now have to pay Tk 52-55.

MA Raihan Joglu, proprietor of Matlab Traders in Karwan Bazar, who has been in the trade for over 40 years, said rice prices were already high, and this recent hike, during the Aman harvesting season despite tax exemptions and imports from India, is unusual.

Joglu blamed big companies and millers competing to purchase and stockpile paddy for an artificial shortage that is driving prices up.

Masuma Begum, who runs a mess in the East Tejturi Bazar area, said she requires 100kg of rice each week. Three weeks ago, Paijam rice was priced at Tk 2,700 per 50-kg sack, but it has gradually risen to Tk 3,000.

She added that she used to charge Tk 160 for two meals a day, but now she has increased the price to Tk 180, which has upset her mess members, most of whom have limited income.

Nirod Boron Saha, president of the Paddy and Rice Stockists and Wholesalers' Association in Naogaon, explained that there was a shortage in paddy stock due to last season's flooding and natural disasters.

"The paddy for fine rice that we used to buy for Tk 1,300-1,400 per maund eight months ago is now Tk 1,850-1,900."

Chitta Majumder, managing director of Majumder Group of Industries, told The Daily Star that he imported 20,000 tonnes of coarse rice after receiving permission for rice imports, but its demand has been low. As a result, he began importing fine rice from India last week.

"We opened an LC for 10,000 tonnes of fine rice and have already imported 400 tonnes. We imported this Miniket for Tk 73-74," he said.

In November, the National Board of Revenue (NBR) of Bangladesh withdrew the import duties and regulatory taxes on rice imports, while also lowering the advance income tax from five percent to two percent.

The interim government then allowed 277 private entities to import 14.81 lakh tonnes of rice as part of efforts to contain domestic prices of the staple grain by increasing stocks.