Rice prices up again in wholesale market

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The price of different varieties of coarse rice continued to fall in the retail market while it witnessed a slight rise in the wholesale market in the capital yesterday.

The price of potato and onions has remained stable in the retail market for the last three days but it soared in the wholesale market.

Meanwhile, the joint forces yesterday held a meeting with the businessmen at BDR Headquarters and said they would start monitoring the market from January 18.

Expressing their resentment, the businessmen said an attempt to hold too much control over the market will not bring any good, rather the prices should be left on the markets.

IRRI, Guti and Swarna were sold yesterday at Tk 28-30 per kilogram, which were Tk 29-30 the previous day in the retail market at Karwan Bazar, Nababganj, and Mohammadpur Town Hall market.

The price of the same varieties of rice went up by Tk 15-30 a maund (37.32 kg) in the last two days in the wholesale market at Karwan Bazar, Badamtoli and Mohammadpur Krishi Market in the capital.

Guti rice was sold at Tk 1000-1020 a maund, Swarna at Tk 1010-1025 and IRRI at Tk 990-1000 per maund yesterday while those were Tk 980-990, Tk 990-1000 and Tk 980-985 respectively on Thursday and Friday.

Wholesalers said they sold Swarna to retailers at Tk 1230 per maund and Guti and IRRI at Tk 1150 after the price of rice went up abnormally following India’s announcement of not exporting rice to Bangladesh less than US$ 500 per tonnes.

But later, when the previous price of rice US$ 425 in importing per metric tons of rice was maintained and

They said when the government took initiatives to import rice and launched open market sales, the price of rice in the wholesale market went down making the wholesalers to incur loss.

“When the price of rice soared significantly, we made a profit of Tk 40-60 per maund. But we usually get Tk 5-10,” said a wholesaler at Mohammadpur Krishi Market.

He said the wholesalers are now incurring loss as they are forced to sell rice at a reduced price.

“We sold rice at lower price as sale went down in the last few days. We have to incur heavy losses if we have to sell rice at a reduced price,” he said.

Meanwhile, potato was sold yesterday at Tk 11-12 per kg which was Tk 10 just two days back in the wholesale markets

Indian and Bangladeshi onions were sold yesterday at Tk 13-15 per kg which were Tk 12-13 three days back.

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