The price of salt goes up

The price of salt unexpectedly went up this past week, in line with price hikes of other essential commodities.

Maximum retail price (MRP) of the branded iodized salt increased by Tk3-4 per packet as sold at Tk36-40 a kg in different groceries and shops on Saturday.

On the other hand, loose salt retailed at Tk26-30 a kg.

Some groceries had old packets but they were selling at Tk1-2 a kg higher than the packet rates, according to market sources.

The Trading Corporation of Bangladesh (TCB) found an 11% hike in salt prices on average in a week.

Md Rabbani, a grocer across Sher-e-Bangla Road at Mohammadpur, said that refined companies raised MRP by Tk2 a kg and they were selling salt of different brands at Tk38-40.

Md Ali Azam, a Rayerbazar grocer, said loose salt price increased by Tk55-56 per maund (37.32 kg) at Moulvibazar wholesale market in a week.

Lokman Hossain, a trader based at Karwanbazar, said a surge in transport costs has forced the companies to raise salt prices.

Salt mills in Narayanganj usually deliver salt at the doors of the traders in Dhaka, he added.

They are now counting Tk1-1.5 a kg as an additional vehicle fare for a hike in diesel prices, according to Hossain.

An official at the Bangladesh Small and Cottage Industries Corporation (BSCIC) said salt production was a record 1.83 million tonnes in FY22 against the demand for 1.7-1.8 million tonnes.

There is no shortage of salt for now as companies have plenty of supply, he added.