Traders have increased the prices of all kinds of spices ahead of Eid-ul Azha despite having enough stock.
Both wholesalers and retailers hiked the prices of ginger, garlic, cardamom, cinnamon, clove, cumin, turmeric and coriander and the low-income groups are bearing the brunt of this spike in prices.
SM Nazer Hossain, vice-president of Consumers’ Association of Bangladesh (CAB), told UNB that, although there is enough stock of spices to meet the demand of Eid festival, the traders are increasing the prices of spices to make extra profit.
“In absence of proper monitoring by the authorities concerned, some unscrupulous traders increase the prices of different commodities as demand rises ahead of different festivals,” Nazer said.
Talking to UNB, some traders said that, as the prices of almost all essential commodities have gone up, prices of spices have also increased.
Besides, the traders blamed the Russia-Ukraine war and depreciation of taka against the US dollar.
Md Enayet Ullah, president of Wholesale Spice Traders’ Association, said that the prices of spices only were adjusted with exchange rate.
Onion, an essential kitchen item, was selling at Tk60-Tk65 per kg on Saturday in the kitchen markets of the capital, which was sold at Tk35-Tk40 per kg a week ago.
Similarly, garlic was selling at Tk120-Tk160 per kg against Tk100-Tk120 per kg and ginger was selling at Tk100-Tk160 per kg against Tk80-Tk120 a week ago.
Besides, local turmeric was selling at Tk230-Tk260 per kg, cumin at Tk450 per kg, chilli (dried) at Tk380-Tk400.
Cardamom was selling at Tk2,300-Tk2,400 per kg which was sold at Tk2,200 per kg a week ago, cinnamon was selling at Tk450-Tk500 per kg, black pepper at Tk800 per kg, clove at Tk1,000-Tk1,200 per kg, cashew nuts at Tk850-Tk1,200 per kg, nutmeg at Tk 900-Tk1,000.
When contacted, officials of Trading Corporation of Bangladesh (TCB), a government market monitoring body have acknowledged that the prices of spices have gone up recently.
