High Prices of Essentials: Double blow for those with fixed income

The prices of nearly all essentials for daily living have risen in the kitchen market, adding to the woes of the fixed-income population that is reeling from the economic slowdown triggered by the pandemic.

The rising prices of sugar, flour and chicken, as well as fish, eggs, cooking oil and spices, have caused prices to rise in recent weeks. This is due to a combination of supply shortages and recovering demand after the pandemic.

Yesterday's visit to several capital kitchen markets revealed that sugar was being sold at a rate about 11 percent above the Tk 74-75 per kg government-fixed rate. The sweetener was sold at Tk 80-86 per kg.

Abul Hussain is a retail owner in the capital's Shukrabad region. He said that he bought loose sugar from wholesalers at Tk78 per kilogram. "Then, how do we sell it at a government-fixed rate?"

Although rice prices are stable, flour has been rising in price. Fine flour and coarse flour (ata), are now available at Tk 42 and 52 per kg respectively, nine to 13 percent more than previously.

Md Shafiul Ather Taslim is the director of finance at TK Group. He said that flour prices have risen due to the price rise in the international markets. He said that the flour price now stands at $450 per ton, which is 29 percent more than it was a few weeks ago.

Within a week, the price of onion rose by 50 percent to Tk 60-65 per kg. This price rise was blamed on a shortage of supply by traders.

The state-run Trading Corporation of Bangladesh, (TCB), reports that the prices of unpacked soybean oil has increased by approximately three percent and ten percent per litre respectively in a month.

Yesterday, unpacked soybean oil was sold at Tk 130-135 per litre. Bottled soybean oil was at Tk145-155. Unpacked palm oil was at Tk 125-88.

Taslim stated that the price of crude soybean oil in the international market has risen by 21 percent to $13,390 per tonne, indicating an increase in edible oil prices.

Broiler chicken was available at Town Hall Kitchen Market for Tk 160 per kg, and Sonali varieties for Tk 300. Their prices were Tk 140 & Tk 230, respectively, just two weeks ago.

According to poultry and broiler chicken sellers, the recent increase in chicken prices is due to a decrease in supply and an increasing demand.

During this time, poultry farmers claimed that their production costs have increased due to an increase in feed prices of around 35-40 percent. Many farmers were forced to decrease production because of this.

This week, the egg price increased by approximately Tk 10 per dozen

The government placed a 22-day ban hilsa catching starting yesterday during the main breeding period. This has caused fish prices to soar. Rui fish were available at Tk 265-360 per kg, Tilapia was at Tk 160-180, and Pangas at Tk 120-181.

Over the past two weeks, green chilli prices have risen by between Tk 80-100 per kg and Tk 200-220.

Pre-season beans sold at Tk 120-140 per kilogram, while tomatoes and carrots were priced at Tk 100-120 a kg.

Except for green papaya which was sold at Tk 30, a kilogram, almost all vegetables are available in city markets for less than Tk 50 per kg.

The prices for most vegetables ranged from Tk 25 to Tk 35 per kg at the Boro Bazar wholesale marketplace in Jashore, which is one of the largest vegetable-producing belts in the country.

Sukumar Roy is a farmer and trader from Satmail in Jashore Sadar upazila. He said that the supply of vegetables in the market was very low because the summer vegetables have almost run out and the winter vegetables have yet to arrive.

All spices, including ginger and garlic, are now priced at Tk 5-10 per kg.

Rahmat Ali, a Rickshaw-puller from the capital's Tejkunipara region, stated that his family's expenses have nearly doubled since recent price increases for daily essentials.

"Several months ago, I was able to buy all the necessities for my family with Tk 300. He said that now I must spend Tk 500.

Shakil Ahmed, a Kalabagan resident, stated that he now walks to Karwan Bazar during off-peak hours to purchase vegetables and other daily necessities at a lower rate.

Ghulam Rahman (President of Consumers Association of Bangladesh, CAB) stated that vegetable prices are still high in October because of a shortage of supply.

"But prices on the local market for other products such as oil, sugar, and flour have increased much more than those in international markets." He said that traders raise prices under the pretense of international market prices.

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