Star Activity Report
Sun Apr 3 2022 12:00 AM Last updated on: Sun Apr 3 2022 12:14 AM
People are seen buying vegetables and other groceries at Town Hall Bazar in Mohammadpur, Dhaka. Commodity companies promised yesterday that the cost of essential goods would remain stable during the month of Ramadan. However, prices were already on the rise just a day before the start of the fasting month for Muslims. Photo: Rashed Shumon
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People are seen buying vegetables and other groceries at Town Hall Bazar in Mohammadpur, Dhaka. Commodity companies promised yesterday that the cost of essential goods would remain stable during the month of Ramadan. However, prices were already on the rise just a day before the start of the fasting month for Muslims. Photo: Rashed Shumon
Turning a blind eye to the rising prices of some basic necessities already overwhelming consumers, traders on the eve of Ramadan assured yesterday that basic foodstuffs would not become more expensive during this month of fasting.
Chicken, pulses, dates and a number of spices are the latest items to spiral in price as consumers prepare to embark on this period of spiritual discipline.
For all the latest news, follow the Daily Star’s Google News channel. Broilers now cost Tk165 per kilogram, up more than 11% in a week, while lentils cost Tk110, up more than 4%.
Dates, one of the most popular fruits eaten at iftar, were selling for 150-450 Tk in Dhaka markets yesterday, up 20% from a week ago, according to data on prices compiled by the Trading Corporation of Bangladesh (TCB).
The price of a five liter bottle of edible oil, which reached Tk 840 at retail at the start of last month, has fallen in the last 10 days after the government reduced VAT at import stages, of production and trade.
While consumers only pay 5% VAT on kitchen items, the price of bulk palm oil has risen slightly over the past week.
Another major respite for consumers is a drop in the price of onions, a popular vegetable used as a key spice here.
Representatives of wholesalers, retailers, processors and importers at a meeting organized by the FBCCI confirmed yesterday that there was sufficient supply and that they see no possibility of higher prices.
“…we will rather reduce it to some extent during this month,” said Shafi Mahmud, chairman of the Bangladesh Pulse Traders Association.
Md Jashim Uddin, chairman of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), demanded that the government adjust taxes and duties to lower prices.
The FBCCI has formed a 46-member committee to monitor market prices for 46 products, he said.
FBCCI has written a letter to Bangladesh Bank to increase the existing working capital loan limit by at least 40%, Uddin informed.
Biswajit Saha, director of corporate and regulatory affairs at City Group and president of the Bangladesh Oil Mills Association, said the rules state that products must be delivered within 15 days of issuing purchase orders.
He claimed that this gave no possibility of storing edible oil.
Md Shafiul Ather Taslim, Finance and Operations Director of TK Group, said the entire business community must bear the blame for price manipulation by a few unscrupulous businessmen.
Mostofa Sohrab Chowdhury Titu, chairman of the Rangpur Chamber of Commerce and Industry, has called for an end to the extortion.
