Ginger importers have attributed this price spike to fall in production along with the fact that import of the spice stalled during the Eid-ul-Fitr vacation
The prices of per kg of ginger have almost doubled in last one month.
Ginger importers have attributed this price spike to fall in production along with the fact that import of the spice stalled during the Eid-ul-Fitr vacation.
Besides producing ginger locally, Bangladesh imports it from India, Indonesia, Chain and Myanmar.
Ginger importer from Shyambazar, Mosharraf Shikder, said: “Except China, all other ginger producing countries had a low production while demand for ginger increased after Eid due to wedding and various other regular programs.”
“The prices of ginger decreased a bit now, but it shot up to Tk170 per kg in the week following the Eid holidays. The prices per kg will not increase further before Eid-ul-Azha,” he added.
Md Nirab, a wholesaler at Karwan Bazar, while speaking to Dhaka Tribune on Wednesday, said: “The wholesale price of ginger rose by Tk60-Tk70 per kg and stood at Tk160-Tk170 after Eid, which was Tk-90-Tk100 per kg during Ramadan."
Chinese ginger sold wholesale at Tk115 per kg at Karwan Bazar yesterday, which was Tk140 the previous week.
According to Trading Corporation of Bangladesh (TCB), prices of ginger soared by 45.83% in the last one month.
During visits to different kitchen markets in the city, including Badda, Karwan Bazar, Malibagh and Kamlapur, Dhaka Tribune found per kg ginger retailing at Tk140-Tk150.
Commerce Secretary Md Mofizul Islam said: “The importers claimed low production by host countries, which is not believable. The import should be increased at any cost, so that the price of this essential commodity does not go up.”
Speaking to Dhaka Tribune, Consumers Association of Bangladesh (CAB) President Golam Rahman said: “The government must identify the masterminds behind the price hike and punish them.”
“The most frustrating thing is that, in the last two years, despite such price hikes, the government hardly took any effective action,” Golam added. He also suggested increasing market monitoring.
According to Commerce Ministry data, the demand of ginger is fulfilled mostly through import. The country has a demand for 0.65 million tons of ginger per year, of which it produces 0.185 million tons locally.