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Download PDF Amid market monitoring by the joint forces that began across the country on January 19, prices of coarse rice and edible oil witnessed a fresh rise in wholesale markets of the capital yesterday.
Rice price increased by Tk 30 to Tk 40 a maund, price of soya bean oil increased by Tk 20 and that of palm oil by Tk 50 a maund.
Traders said the price of rice increased due to price hike of paddy in the rural markets while an artificial crisis created by edible oil importers and distributors led to the rise in oil price. Many of the traders have stopped purchase of rice from outside Dhaka fearing that the joint forces’ monitoring would result in losses in their businesses, they said.
Imported Indian rice Swarna sold at Tk 26-27 a kg and local Guti rice at Tk 27-28 yesterday at Babu Bazar and Badamtoli — two major wholesale markets in the city. The price increase was Tk 1 per kg over the price on the previous day.
In retail markets, coarse rice was selling at Tk 28-30 a kg yesterday as on the day before.
Meanwhile, coarse rice being imported from India at $ 425 per tonne has not yet arrived in the city markets, traders said.
“We are now selling Indian coarse rice at Tk 25.50 - 26.50 a kg since it was imported at $320 per tonne. But when we will start selling rice imported at higher price, we cannot sell it at less than Tk 32 a kg,” said a wholesaler at Badamtali market.
Monir Hossain, a rice miller from Chapai Nawabganj, said he incurred a loss of Tk 60,000 by selling 17 tonnes of rice to wholesalers in Dhaka. He attributed this to higher paddy price in rural markets.
Meanwhile, following a meeting with BDR and joint forces, Bangladesh Vegetable Oil Refiners’ and Vanaspati Manufacturers’ Association fixed the price of 5-litre bottled soyabean oil at Tk 494 at the maximum, effective from yesterday for 15 days. But the price was up to Tk 499 yesterday.
At Moulavi Bazar, the largest wholesale market in old part of the capital, price of non-brand soyabean oil, which sold at Tk 92-Tk 93 a litre on Monday, rose by Tk 1 a litre.
Edible oil traders at Karwan Bazar wholesale market said they bought the best quality palm oil from Moulovi Bazar at Tk 3,170 a maund on Monday and at Tk 3,220 a maund yesterday.
“Distributors are showing reluctance to supply oil to wholesalers in a bid to increase its price,” said a wholesaler at Karwan Bazar.
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