There is no sign of rice prices going down despite the government’s efforts to stabilise the staple market, including expansion of Open Market Sale (OMS) programme and the move to accelerate imports.
Some of the rice varieties have seen Tk 0.5 to Tk 1 hike per kg this week at retail level, compared to last week.
Prices of almost all varieties have been increasing over the past three weeks.
The interim government has announced an expansion of the OMS programme across the country to help families cope with inflation, as retail prices of kitchen essentials continue to soar in the local market.
The programme’s first phase will begin on January 12, and sales will continue until February, according to food ministry officials.
Speaking to The Daily Star on Thursday, Food Adviser Ali Imam Majumder said the price of rice has increased exponentially in the local market, which is why the government has taken the initiative to provide relief to the common people.
In November, the National Board of Revenue withdrew duties and regulatory taxes on rice imports. It also lowered the advance income tax from five percent to two percent.
The government then allowed 277 private entities to import 14.81 lakh tonnes of rice as part of efforts to contain domestic prices by increasing stocks.
On January 7, the cabinet committee on purchase also approved 50,000 tonnes of rice import.
Kamal Sarkar, owner of Mirpur Makbul Rice Agency at Mirpur 11, said coarse rice has low demand in Dhaka’s market, which is why its price has increased slightly.
“The demand for fine rice is huge in the local market, and there is a shortage of this variety in the market. For this, its price has been increasing for the last several weeks. This week, each 50kg sack of fine rice saw a rise of Tk 50.”
During visits to several kitchen markets in the capital yesterday, including Karwan Bazar, Mirpur, Kazipara, and Mohammadpur, this newspaper found that the retail price of fine rice rose by Tk 6-8, medium-grain rice by Tk 5-6, and coarse rice by Tk 2-3 per kg compared to three weeks ago.
At retail level, Miniket rice was selling at Tk 75-86 a kg, up from Tk 68-78; Nazirshail at Tk 78-92, up from Tk 72-82; BR-28 at Tk 64-66, up from Tk 58-62; and Paijam at Tk 62-65 a kg, up from Tk 55-58.
Besides, the price of coarse rice (Guti Shorna) has risen by around Tk 2-3 per kg to Tk 52-55 in three weeks.
Alamgir Hossain, manager at Krishi Bhandar in Mohammadpur Krishi Market, said rice prices have been rising every week, and this week was no exception.
“On the one hand, we face the customers’ wrath, and we have to deal with mobile court drives on the other hand. They fine us despite our repeated explanations that we are not responsible for the price hike,” he said, urging the authorities concerned to conduct drives at rice mills to inspect purchasing prices.
Nirod Boron Saha, president of Paddy and Rice Stockists and Wholesalers’ Association in Naogaon, a wholesale hub in the north for medium and fine quality rice, blamed the price hike on the shortage of good-quality paddy.
“We cannot buy good-quality paddy due to supply crunch. Whenever we find some, the farmers are unwilling to sell at lower prices,” he said, adding that there is no chance of dropping the fine rice price until the end of winter.
He, however, thinks that rice prices would not rise significantly in the coming weeks due to the government’s OMS programme.
daily star
