Price of paddy or un-husked rice has declined by up to Tk 200 per maund in the last couple of weeks with increased supply in the market—thanks to a bounty of Boro harvest, but rice traders have not cut down the prices accordingly.
Traders at the primary sources said the price might fall further as farmers have a plenty of stocks from a very good harvest this year.
Farmers have meanwhile expressed worries as continuous fall on paddy price might push down the price level further if the government remains inactive or less active in the market.
At Abadpukur Bazar in Naogaon on Friday, fine grade Jira-Miniket variety of new stock of paddy traded between Tk 690 and Tk 710 per maund.
As the harvest started there three weeks ago, new stock of Jira-Miniket, with high moisture level, began selling at Abadpukur at around Tk 800 per maund. More sun-dried stocks sold in the following week at up to Tk 900 per maund, recalled the local traders.
‘With paddy price falling by Tk 200 per maund just in two weeks, farmers here are quite worried,’ Shaheen Mandol, a local farmer, told New Age when contacted over phone from Abadpukur Bazar on Friday.
Traders at Abadpukur said that price of paddy might see a sharp fall if rains start hindering harvesting and drying of paddy by farmers.
Traders at Ashuganj trading station also pointed out that price of paddy had been falling sharply with assumption in the market that the government would not buy much stock this year as its warehouses have been packed.
At Ashuganj, new stock Hira-Highbred, a coarse variety paddy, sold between Tk 450 and 460 per maund, down by Tk 100 in two weeks.
Before harvest started a month ago, old stock of Hira per maund had been sold at Tk 750 or more, recalled the traders.
Medium grade and new stock of BR-28 or BR-29 varieties of paddy sold between Tk 640 and Tk 660 per maund on Friday at Ashuganj Gudaraghat trading station.
Despite price of paddy had fallen massively, rice price has not fallen accordingly, the New Age correspondent found.
Declined by Tk 2 or less per kilogram in two weeks, Dhaka wholesalers sold Jira-Miniket rice on Friday between Tk 1,470 and
Tk 1,500 per maund and it retailed at Tk 50-52 per kilogram.
At Ashuganj, coarse rice sold between Tk 1,000 and Tk 1010 per maund on Friday, down by Tk 50 in two weeks.
Retailers on the outskirts of Dhaka sold coarse rice between Tk 34 and Tk 36 per kilogram on Friday, down by Tk 2 in two weeks.
Courtesy of New Age
