The price of rice in both wholesale and retail markets has risen in the country over the last two weeks, according to the Ministry of Food.
In case of rice varieties, coarse rice faces the highest price hike which is unusual just after the harvesting season.
The wholesale price of coarse rice in Dhaka city markets increased by 18.4% up to Tk30.60 per kg and the retail price by 3.2% up to Tk32.50 a kg in the last two weeks, Food Planning and Monitoring Unit (FPMU) of the ministry said in its fortnightly food grain outlook.
The FMPU report also said the retail price of coarse rice was Tk28 per kg last year during this time.
However, on Thursday, the coarse rice sold Tk32.20 a Kg in wholesale market and Tk34 per Kg in retail market across the capital.
The Boro harvesting usually ends by June when the price of coarse rice goes down due to its availability, but the scenario is different this year.
Hike in rice price just after the harvest is quite unusual, said Nirod Baran Saha, president of Rice Dealers Association, Naogaon district.
He attributed the reason to fall in production of Boro rice.
Rice price is gradually increased after the month of August though this year it happened one month earlier, which indicates that the price of rice will go up later in the year, he added.
The FMPU report also said apart from rice, the price of “atta” has also increased by 0.8% and 1.5% up to Tk26.70 and
Tk33.50 per Kg in the wholesale and retail markets in the capital.
The government has resumed Open Market Sale (OMS) in the major cities and districts except the capital under the food safety net programme.
Under the OMS, rice sells Tk24 a Kg only in coastal districts while Atta Tk22 across the country.
Ahmed Hossain Khan, director general of food directorate, told the Dhaka Tribune the government will resume the OMS in the capital soon to meet the growing demand of coarse rice during Ramadan.
Economist Prof Shamsul Alam at Planning Commission said the prices of rice increased due to incessant rain in the last month across the country.
The millers could not produce rice from Boro paddy due to rain, thus causing price hike which is temporary, he added.
However, Nirod Baran Saha objected to the notion.
There is a shortage of Boro paddy in the local market, he said, adding that the big growers could hoard a remarkable portion of their production to cash in on the shortage later in the year.
