Weekly Kitchen Market: Sugar market still fickle

| Updated: December 13, 2022 16:50:17

Weekly Kitchen Market: Sugar market still fickle

Prices of rice, flour and sugar remained much higher last week in Dhaka city, although vegetables, chickens and egg showed a slight decline in value.

The sugar market remained volatile as many groceries ran out of the item while it was selling at Tk 110-118 a kg higher compared to the government-fixed rate.

The FE visited different groceries only to find sugar sold at Tk 115-125 a kg against the government's maximum retail price of Tk 102 for loose and Tk 108 a kg for branded sugar.

The government fixed the rates in consultation with refiners.

"But long after three weeks, the market is yet to be normal," Kabir Ahmed, a grocer at Shekhertek in Mohammadpur neighbourhood, told the FE.

"We have placed an order for sugar a month back but are yet to get it from the dealer," he said.

Few traders are charging Tk 5,700 per 50-kg sack (Tk 114 a kg), but they have a provision of not giving any voucher, he said.

Md Belayet, a grocer in Modhubazar area, said he bought sugar at Tk 115 a kg and was selling at Tk 125 a kg.

He said companies almost stopped supplying packet sugar as selling loose sugar is much more profitable now.

Bangladesh consumes 2.0-2.2 million tonnes of sugar annually. It produces only 28,000 tonnes a year.

Major refiners brought 2.0-2.4 million tonnes to meet the gigantic domestic demand, according to both commerce ministry and revenue board.

Meanwhile, rice sold at the previous highs of Tk 54-56 a kg coarse, Tk 62-65 medium and Tk 78-98 finer.

Finer flour or maida was sold at an all-time high of Tk 85 a kg and coarse flour or atta at Tk 75 a kg in the city retail markets.

Meanwhile, vegetable and potato prices showed a slight decline amid a rise in supply.

Newly harvested potatoes were sold at Tk 40-50 a kg and green tomatoes at Tk 30-40.

Safiar Rahman, a vendor at Rayerbazar, said they sold turnip at Tk 40, cabbage and cauliflower at Tk 30-40 apiece and local beans at Tk 40-50.

Brinjal sold at Tk 40-60 a kg and leafy Tk 15-30 a bunch based on quality.

Prices have showed a Tk 5.0-15 decline a kg/bunch/apiece in the last two weeks amid a rise in supply from major vegetable growing hubs, according to Mr Rahman.

However, the mature tomato was still much pricey as it was sold at Tk 120-140 a kg on Friday.

Broiler and Pakistani or Sonali prices witnessed a Tk 15-30 plunge a kg as broiler was sold at Tk 155-165 and Pakistani at Tk 250-260 a kg, according to kitchen market traders.

Farm egg prices showed a Tk 6.0-10 decline a dozen in a week as was sold at Tk 112-118 the same day.

On the other hand, beef, mutton, fish and milk remained the same at their previous highs.

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