Retail rice prices in Dhaka have risen by Tk2 to Tk3 per kg due to an alleged supply shortage, despite steady wholesale market prices over the past five days.
During visits to various kitchen markets, it was found that retailers have raised prices by Tk2 to Tk3 per kg, citing reduced supply from wholesalers.
Despite no increase in wholesale prices, some retailers have opted to sell rice at higher prices.
Fazlu Mia, owner of Bhai Bhai Rice Agency at Mogbazar kitchen market, told UNB that he received only 100 sacks of rice from Naogaon instead of the usual 150 sacks.
As a result, he felt compelled to increase his rice prices by Tk2 to Tk3 per kg, attributing it to the supply shortage.
In the wholesale market, the prices of various types of rice were observed to vary.
Miniket rice was priced between Tk75-79 per kg, while BR-28 and BR-29 varieties ranged from Tk60-64 per kg. Nazirshail rice at Tk76-84 per kg, and Swarna rice is priced at Tk52-54 per kg. Pajam rice at Tk57-58 per kg, Basmati rice ranging from Tk94-98 per kg. Aromatic rice, specifically Chinigura, was priced between Tk110-115 per kg.
At the retail level, prices were slightly higher. Miniket rice was sold at Tk84-85 per kg, while BR-28 and BR-29 at Tk65-68 per kg. Swarna rice at Tk56-58 per kg, and Nazirshail rice was priced between Tk80-85 per kg. Basmati rice remained close to its wholesale range, selling for Tk95-100 per kg. Aromatic rice (Chinigura), was sold at Tk140 per kg.
Rojab Ali, a wholesaler, said: "We are selling rice at the same prices as before. The prices have not increased yet."
However, he acknowledged that the supply of rice is currently low and that the market may remain unstable until new rice enters the market.
He also pointed out that imported rice has not yet arrived, making it unlikely for prices to decrease in the near future.
Ali emphasized that the instability in the rice market would persist until the syndicate controlling the market is broken.
To address the rising rice prices, the government had previously withdrawn import and regulatory duties on rice in two phases, effective from October 20 and November 1.
The decision aimed to increase supply and ensure that rice prices remained affordable for the general public.
The National Board of Revenue (NBR) had expected these measures to reduce rice prices by at least Tk9.60 per kg.
According to the Bangladesh Bureau of Statistics (BBS), the average daily per capita rice consumption in the country is 328.9g.
In urban areas, the daily per capita consumption is slightly lower at 284.7g.
This consumption pattern requires a total of 2.6 crore tons of rice annually for the country's population of 170 million.
Bangladesh produced over 4 crore tons of rice in the fiscal year 2023-2024.
As of December 19, the food ministry reported that various food warehouses across the country held stocks of 744,000 tons of rice, 448,000 tons of wheat, and over 4,000 tons of paddy.