Bizdata Insights Main Logo

Kitchen market suffering from price hike

Industry: Commodity, Consumer & Retail

Over the past month, essential commodities such as spices, vegetables, potatoes, sugar, fish, and pulses have experienced significant price hikes, adding to the difficulties faced by consumers. The price of onions, in particular, has skyrocketed by 100 percent, reaching Tk 80-90 per kilogram at the retail level. Ginger and cumin seed prices have also reached record highs, with various ginger varieties selling at Tk 300-340 per kilogram and the Chinese variety at Tk 450-460. Cumin seed is being retailed at Tk 950-1,000 per kilogram, while large companies are trading packet cumin powder at up to Tk 1,150 per kilogram. Potatoes have seen an average price increase of 42 percent, reaching Tk 40-45 per kilogram.

Sugar prices, despite being set by the government at Tk 120-125 per kilogram, have risen to Tk 140-150 after Eid-ul-Fitr. Lentils, pointed gourd, tomatoes, and carrots have also experienced notable price hikes. Value-chain expert has pointed out that large traders and companies raised prices before Ramadan, and prices further increased after Eid. Market manipulation and higher import costs have contributed to these abnormal price increases. To address the situation, experts suggest the government should rationalize import duties, implement effective regulatory measures, and take strict actions against wrongdoers..

Source for more details:

Related News

100 onion trucks waiting to enter Bangladesh

May 28, 2023

Hundreds of trucks carrying onions are waiting at India's Ghojadanga land port to enter Bangladesh via the Bhomra land port, pending permission. Indian traders have prepared in advance for the possibility of onion imports. However, as 27th May, the Bangladesh government has not made a decision on onion importation. Customs officials at the Bhomra land port have not received any instructions regarding onion imports.

Unveiling of Hamdard’s Ihram Neem Soap

May 28, 2023

Hamdard Laboratories (Waqf) Bangladesh has recently introduced the Tun Product Ihram Glycerin Neem Soap. The unveiling ceremony for the packaging of Ihram Neem Glycerin Soap took place in the presence of renowned dermatologists. The event was held at the conference hall of Hamdard Bangladesh's head office in Banglamotor, with Chief Motawalli and Managing Director of Hamdard Bangladesh as the chief guest.

Death penalty for illegal hoarding

May 28, 2023

The chief of the Directorate of National Consumer Rights Protection (DNCRP) said that the government should maybe consider death penalty for people who hoard stuff and hostage market. Some companies stash goods and stop making more just to raise prices, which is bad. They filed cases against 54 of those companies and want to check prices and cattle for Eid. They talked about it at a fake parliament thing with a group called Debate for Democracy. They want to change the law to protect consumers better and get political parties to care about this issue.

Proposal for tax enforcement on tobacco

May 27, 2023

During the 'Pre-Budget Discussion on Implementation of Tobacco Products' in Dhaka, speakers stressed the importance of raising retail prices and applying higher supplementary duties on all tobacco products, including cigarettes. They believed that this strategy would both reduce tobacco consumption and increase government revenue.

Importers under-invoicing shipments of sugar

May 27, 2023

The Bangladesh Sugar Refiners Association (BSRA) has expressed concern over importers under-invoicing refined sugar shipments to maximize profits amid higher sweetener prices. This practice not only hampers local mills' competitiveness but also results in revenue loss for the government. The BSRA has urged tighter import regulations and the establishment of an appropriate price for refined sugar to ensure market stability and protect jobs.

Humayun Kabir from Bengal Group awarded CIP

May 25, 2023

Humayun Kabir Bablu, the Director of Bengal Group of Industries and the Managing Director of RTV, was awarded the Commercially Important Person (CIP) Award 2021 for Medium Category Industry by the Ministry of Industries on May 22. The award was presented to him in recognition of his remarkable performance in growing the country's economy by establishing industries, creating jobs, and raising national revenue in 2021.

Related News

100 onion trucks waiting to enter Bangladesh

May 28, 2023

Hundreds of trucks carrying onions are waiting at India's Ghojadanga land port to enter Bangladesh via the Bhomra land port, pending permission. Indian traders have prepared in advance for the possibility of onion imports. However, as 27th May, the Bangladesh government has not made a decision on onion importation. Customs officials at the Bhomra land port have not received any instructions regarding onion imports.

Unveiling of Hamdard’s Ihram Neem Soap

May 28, 2023

Hamdard Laboratories (Waqf) Bangladesh has recently introduced the Tun Product Ihram Glycerin Neem Soap. The unveiling ceremony for the packaging of Ihram Neem Glycerin Soap took place in the presence of renowned dermatologists. The event was held at the conference hall of Hamdard Bangladesh's head office in Banglamotor, with Chief Motawalli and Managing Director of Hamdard Bangladesh as the chief guest.

Death penalty for illegal hoarding

May 28, 2023

The chief of the Directorate of National Consumer Rights Protection (DNCRP) said that the government should maybe consider death penalty for people who hoard stuff and hostage market. Some companies stash goods and stop making more just to raise prices, which is bad. They filed cases against 54 of those companies and want to check prices and cattle for Eid. They talked about it at a fake parliament thing with a group called Debate for Democracy. They want to change the law to protect consumers better and get political parties to care about this issue.

Proposal for tax enforcement on tobacco

May 27, 2023

During the 'Pre-Budget Discussion on Implementation of Tobacco Products' in Dhaka, speakers stressed the importance of raising retail prices and applying higher supplementary duties on all tobacco products, including cigarettes. They believed that this strategy would both reduce tobacco consumption and increase government revenue.

Importers under-invoicing shipments of sugar

May 27, 2023

The Bangladesh Sugar Refiners Association (BSRA) has expressed concern over importers under-invoicing refined sugar shipments to maximize profits amid higher sweetener prices. This practice not only hampers local mills' competitiveness but also results in revenue loss for the government. The BSRA has urged tighter import regulations and the establishment of an appropriate price for refined sugar to ensure market stability and protect jobs.

Humayun Kabir from Bengal Group awarded CIP

May 25, 2023

Humayun Kabir Bablu, the Director of Bengal Group of Industries and the Managing Director of RTV, was awarded the Commercially Important Person (CIP) Award 2021 for Medium Category Industry by the Ministry of Industries on May 22. The award was presented to him in recognition of his remarkable performance in growing the country's economy by establishing industries, creating jobs, and raising national revenue in 2021.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here