Friday, June 14, 2024

Rice prices rise in city on supply shortage

Strike followed by Eid vacation disrupts supply
Rice prices went up by Tk 2-4 a kilogram over the last couple of weeks as the city’s market saw a supply shortage of the staple food because of recent general strike called by the opposition alliance followed by a long vacation on the occasion of Eid-ul-Azha, traders said.
They said that the finishing stock of mininket, najirshail and BR-28, seven months after their harvest, also contributed to the supply shortage of rice on the market.
The prices of all varieties of rice increased by Tk 2-4 a kg in the last two weeks on both the wholesale and retail markets.
Coarse variety of rice was being retailed at Tk 36 a kg on Saturday while the price was Tk 33 before Eid.
Fine varieties of BR-28, miniket and najirshail rice were being retailed at between Tk 42 and Tk 45 a kg, Tk 48-Tk 50 a kg and Tk 52-Tk 56 a kg respectively. The prices were Tk 36-Tk 44, Tk 46-Tk 48 and Tk 50-Tk 54 respectively.
Mizanur Rahman, a retailer at Karwan Bazar, told New Age that the prices of rice increased by Tk 2-4 a kg after Eid-ul-Azha.
‘Wholesalers increased the prices of rice in the name of a supply shortage due to Eid vacation and recent hartal and so the retail prices have increased,’ he said.
Salim Uddin, a trader at Babubazar, told New Age that the wholesale prices of all varieties of rice increased a bit due to a supply shortage on finishing stock ahead of the new harvest season.
The prices of coarse varieties of rice will come down within a short time as the crops are going to be harvested within couple of weeks, he said.
Salim said that the prices of mininket, najirshail and BR-28 would continue to rise in the days to come due to a supply shortage on finishing stock ahead of April, the new harvest season for the varieties.
Fine varieties of BR-28, miniket and najirshail rice were wholesaling at between Tk 37.50-Tk 38.50 a kg, Tk 43-Tk 46.50 a kg and Tk 50-Tk 54 a kg respectively on Saturday while the coarse varieties of rice was being wholesaled at Tk 33.50 a kg, he said.
Zakir Hossain Rony, the owner of Sayem Rice Agency at Babubazar, said that the production of rice remained suspended for about 10 days as the workers of the rice mills enjoyed a long vacation on the occasion of Eid-ul-Azha and so a supply shortage took place on the market.
‘Just after Eid, the supply chain interrupted by 60-hour general strike and the wholesale market saw a big shortage of rice which pushed the prices high,’ he said adding that during hartal the transport owners charged extra fare which also put impact on the prices.
Zakir also said that the prices of fine varieties of BR-28, miniket and najirshail rice would remain high up to coming Baishakh, the harvest season as the varieties produced only once in the year.

-With New Age input

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