Low-income people bear the brunt of price hike

ANM Mohibub Uz Zaman

25th January, 2020 02:21:08 printer

Low-income people bear the brunt of price hike

Low, middle and fixed income groups are feeling the pinch for a gradual increase in prices of essential commodities in the country.

The skyrocketing price of onion has yet not returned to normality, but prices of other essential commodities are going up gradually.

Prices of pulse, garlic, loose palm oil, soyabean oil, red chilli, cardamom, cinnamon, ginger, rice and flour marked a sharp rise this week, putting more pressure on the wallets of consumers.

Taking advantage of the rise in demand, some traders hiked prices of most essential commodities to make more profits, many consumers alleged.

Experts blamed a lack of market monitoring and surveillance for the price spiral is responsible for the spiral of the commodity in the country.

Prices of different essentials have jumped up by 2-35 percent from the prices of last month, according to data compiled by the state-run Trading Corporation of Bangladesh (TCB).

Golam Rahman, chairman of the Consumer Association of Bangladesh (CAB), told the daily sun that businessmen increased prices of essentials in a very cunning way that affects consumers most.

Prices of some commodities, including onion, have increased in the last six month, he said, adding that it’s not a good sign that prices of other commodities are increasing.

The government should take early measures and increase market monitoring to stop the indiscriminate price hike of essentials, he said. 

Within a week, price of fine quality rice increased to Tk 55-60 per kg from Tk 50-56.

Prices of all kinds of lentils rose by Tk 10-15 per kg in a week. Imported coarse lentil was sold at Tk 80-85 per kg, finer lentil of local varieties Tk 120-125 per kg and imported Nepalese varieties at Tk 130-135 per kg on Friday.

Prices of mung also increased by Tk 10 per kg and sold at Tk 100-140 per kg in different kitchen markets in the capital.

Gram (chickpea) price increased by Tk 5- 10 per kg, it was selling at Tk 80-85 per kg and anchor pulse was sold at Tk 45-50 per kg from Tk 40-45 per kg.

Cinnamon price shot up to Tk 450-480 per kg from 380-420 per kg in a week. The price of cardamom is much higher since the last couple of month and now sells at Tk 4,200-5,000 per kg than previous week.

Garlic prices reached Tk 140-180 per kg and ginger Tk 140-160 per kg that Tk 20-25 hike per kg in a week.

Prices of red chilli went up to Tk 420-460 per kg from Tk 250-280 per kg in a week.

Loose super palm oil, one of the main cooking oils, became costlier by Tk 2.0 per litre as it was traded at Tk 87-90 a litre on the day.

Potato price marked an increase by 6 percent in the last 30 days and it was sold at Tk 25-28 per kg on Friday.

Masud, owner of Mahmud General Store at Kawran Bazar, said wholesale prices of most of the pulse increased this week so they have to sell it at a higher price.

Akbar Ali, a private company employee, said prices of commodities increase every month that put huge pressure on their wallet.