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Price hike of essentials hits hard people

  • Staff Correspondent
  • 21st May, 2022 09:31:39 AM
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Price hike of essentials hits hard people

The spiralling price increases of essential commodities are causing serious financial hardship for common people in the country.

In particular, people on low, middle, and fixed incomes have been hit hard, as it has been difficult for them to make ends meet on their meagre earnings.

Since the war between Russia and Ukraine began on February 24, most commodity prices have risen rapidly due to global price increases and supply constraints.

According to Trading Corporation of Bangladesh statistics, the prices of eight food items have increased this week. Prices of 14 food items increased in the previous week in the capital.

Rice, maida, atta, dry chili, garlic, lentil, egg, and vegetable prices rose further this week, while edible oil, onion, and potato prices remained high.

The price of medium-quality rice has increased by 0.99 percent in a week and was sold at Tk 46-56 per kg on Friday, according to TCB.

Loose atta price increased by 18.52 percent in a week and was sold at Tk 46-50 per kg, packet atta price increased by 5.38 percent in a week and was sold at Tk 48-50 per kg and packet maida price increased by 6.40 percent in a week and was sold at Tk 65-68 per kg on the day, according to TCB.                 Although the supply of soybean oil has increased in the market, consumers are not getting one-liter bottles sufficiently. Those are being sold at prices higher than the government-set price.

The government and the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association have set the new price of one-liter bottled soybean oil at Tk 198, loose soybean oil at Tk 180, and a five-litre container at Tk 985.

Rafiqul Islam, a private company employee, said, "The prices of most essential commodities have been rising every week, making it difficult for us to maintain our livelihood with our limited earnings."

"We have no choice but to cut nutritious food items from our menu due to the continuous price hike," he said.

According to TCB data, coarse lentils increased by 2.38 percent in a week and were sold for Tk 105-110 per kg; medium lentils increased by 4.26 percent in a week and were sold for Tk 120-125 per kg; and small lentils increased by 5.88 percent in a week and were sold for Tk 130-140 per kg.

Local garlic prices increased by 16.67 percent in a week and were sold at Tk 90-120 per kg, while imported garlic prices increased by 11.54 percent in a week and were sold at Tk 130-160 per kg.

The price of dry chili, ginger, and farm eggs also increased this week.

Beef prices remained as high as they had been in the previous week. It was sold at Tk 700 per kg in the capital.

The price of broiler chickens has fallen slightly and was sold for Tk 165 per kg on the day. Sonali chicken was sold for Tk 300-320 per kg.

The farm egg price remained at Tk 120 per dozen, which was the previous high.

Some vegetable prices have increased this week, according to Sofiqul Islam, a vegetable trader at Mohammadpur Krishi Market.

The price of carrots increased to Tk 80-120 per kg from Tk 60-70 per kg and the price of spiny gourd increased to Tk 80-100 per kg from Tk 50-60 per kg.

 Brinjal was sold for Tk 60-80 per kg, green papaya for Tk 60-70 per kg, and tomatoes for Tk 50-60 per kg, all at previous high prices.

 The price of the pointed gourd has increased to Tk 40-50 per kg from Tk 30-40 per kg, okra increased to Tk 40-50 per kg from Tk 30-40 per kg and ribbed gourd increased to Tk 50-60 per kg from Tk 30-40 per kg.

 The price of onions has declined to Tk 40 per kg from Tk 45-50 per kg in a week.