No further rise in rice price

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The price of rice has been stable in most of the retail markets in the capital and elsewhere in the country for the last two days.

The price of coarse rice in the wholesale markets too remained unchanged. In Dhaka, it even marked a decrease of around Tk 50 per mound.

The government decision to launch open market sales, import rice and keep watch on the price situation through the intelligence agencies might have contributed to the price stability, said businesses.

Besides, inflow of Indian rice has prompted some hoarders to release a portion of their stocks while panic buying has decreased with consumers in middle and high income brackets already having a stock enough to make them feel secure.

In a development, freight train carrying 2,400 metric tons of rice entered the country through Benapole yesterday. Although the port and customs house remained open at the weekend following instructions of the National Board of Revenue (NBR), no import was possible by trucks because of restrictions by the Indian customs, reported our Benapole correspondent.

Traders said prices will come down both on the wholesale and retail markets given that the government continues its efforts to increase supply.

Meanwhile, prices of all varieties of rice have decreased by Tk 10 to 50 a maund on the wholesale markets across the capital. But it did not have any effect on the retail market.

“We’ve heard that prices have started to come down on the wholesale market, but we could not sell ours at a lower rate as we bought that at a higher price two days ago,” said Abdul Kadir, a retailer at Mohammadpur Town Hall kitchen market.

Traders told The Daily Star correspondents that sale of rice at Tk 25 per kg at BDR-run shops led to reduced sale at the city’s retail markets over the last two days.

Though the price of rice has been stable, the low and fixed-income group people across the country are facing tremendous pressures due to the present price of rice with people in many parts of the north passing days half-fed.

Traders said price spiral has been affecting their business too as the families that would usually buy 10 kg a week have now cut their weekly consumption down to 5 kg.

Price came down by Tk 10 to Tk 50 per mound (37.3 kgs) on the wholesale markets at Badamtoli, Babubazar, Karwan Bazar and Krishi Market of Mohammadpur.

Wholesalers, however, said the price in the go-downs has yet to come down. “We are selling at a reduced rate as the demand has dropped with the consumers rushing to the BDR shops,” observed a wholesaler at the Krishi Market.

On retail markets at Hatirpool, Karwan Bazar, Town Hall Market, and Mirpur yesterday, coarse rice sold at Tk 32-33 a kg, Swarna at Tk 34 while Paijam and Lata at Tk 34-35.

The price of rice rose by Tk 7-8 per kg over the week preceding Thursday.

Our Correspondent from Rangpur reports: Prices of all varieties of rice came down by Tk 100 per sack (84 kg) on the wholesale markets over the last two days, but it did not reflect in the retail price.

Mahiganj Rice Depot Owner Association President Muktar Hossain said prices in the retail markets in Dinajpur did not decrease as the retailers had procured their rice at higher rates.

The price of rice in Kurigram and Lalmonirhat districts remained unchanged leaving day labourers and rickshaw-pullers half-fed.

“I can earn only Tk 100 a day while I need 3 kg rice every day for my six-member family. I could not buy any vegetable for the last seven days because I had to spend all my earning on rice,” said Mostul, a rickshaw puller from Shahebganj of Rangpur.

Our correspondent from Barisal adds: Coarse Kazla was selling at Tk 31 per kg, Dudhkalam at Tk 32, locally grown coarse IRRI at Tk 32 and Balam at Tk 34.

Ashim Saha of Talukder Traders at Barisal Fariapatti said the price has been stable both on the wholesale and retail markets since Thursday. “It will come down if more consignments arrive in Barisal.”

Our correspondents from Sylhet, Chittagong, Bogra and Rajshahi reported that the price on the wholesale and retail markets has been quite stable for the last two days.

Retailers of rice and soya bean oil in Khulna said they are considering giving up sale of the two commodities to avoid public wrath as their prices are spiralling out of the common people’s reach, reported our Khulna correspondent.

Meanwhile, our correspondent from Rajshahi reported that over 3500 rice mills in northern districts remain idle, while many others are facing the threat of closure.

Our Mymensingh correspondent adds that some 1500 rice mills in Mymensingh, Jamalpur and Sherpur districts remain either idle or on the verge of closure due to shortage of paddy and high prices.

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