The rice market in Chittagong has experienced significant instability, with prices rising from Tk200 to Tk300 per 50kg sack over the past three weeks, resulting in retail price increases of Tk2 to Tk7 per kg. The surge is primarily attributed to recent floods that disrupted supply, with about 80% of the region’s rice demand met by external sources. Current prices for various rice types show Miniket at Tk65 to 70, Jirashail at Tk67 to 69, and Paijam at Tk58 to 60, each up by Tk4 to 5. A 50kg sack of coarse boiled rice has risen from Tk2,000 to Tk2,400, while Nurjahan Swarna increased from Tk2,500 to Tk2,800, and Jirashail from Tk3,250 to Tk3,450. With many rice mills closed, only 20-25% are operating intermittently. Farmers are withholding paddy to await higher prices. The market remains unregulated, with prices affected by supplier costs from other regions, while the transport system also contributes to the price hikes. Authorities are monitoring the situation but have indicated that any regulatory action will come from the center.
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