Trade
8 hours ago

Eid demand pushes up food prices

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Prices of loose edible oils, meat and different varieties of spices increased in the city markets ahead of Eid-ul-Fitr.

According to traders, the supply of bottled soybean oil remained low in the market, although its official rate still remains Tk 195 a litre.

Due to the supply shortage of bottled soyabean oil in the markets, the price of the loose one increased to Tk 190-192 a litre.

On the other hand, prices of different spices like cardamom and nuts, which already maintained an uptrend, went up further due to their increased demand on the occasion of the Eid festival.

Higher demand for spices and nuts has pushed their prices up as spices are widely used in Eid dishes such as semai (vermicelli) and pilao.

Cardamom remained the most expensive spice in the market, with its retail prices crossing Tk 5,000 per kg.

Cinnamon was being sold at Tk 560-600 per kg, cloves at Tk 1,800-2,000, coriander at Tk 300-360 and bay leaf at Tk 200-300 per kg.

The prices of almonds soared by about Tk 200 to Tk 1,400-1,500 per kg while the item was selling at Tk 1,200-1,300 per kg a few days ago.

Cashew nuts, which were sold at Tk 1,200-1250 per kg earlier, were selling at Tk 1,400-1450 at the retail levels on Monday.

Peanut prices also increased by Tk 40-50 to Tk 220-250 per kg from its previous rates of Tk 180 to 200 per kg.

Pistachio prices also jumped to Tk 1,700-2,400 per kg from Tk 2,600-3,800 earlier.

Sadek Hossain Rana, a spice trader at Karwan Bazar, said nuts are widely used for cooking purposes during the Eid, resulting in the rise of their demands.

"Prices of the items have also increased in the wholesale markets. We are buying at higher prices and selling at higher prices in retail," he said.

The price of dried plum (alu bokhara), another important ingredient used in polao, biryani, chicken roast, rezala and pickles, also increased to Tk 1,200-1,400 per kg compared to the previous rates of Tk 600-800 per kg.

Raisin prices also went up by Tk 100 per kg to Tk 900-1,000 as of Monday.

Prices of other spices also showed slightly upward trends also while the price of cumin remained stable at Tk 700-800 per kg.

Nasim Mollah, a wholesale trader, attributed two main factors-- higher prices in the global market and the increased exchange rate of US dollar to the rise in spice prices in recent times.

Meanwhile, meat and chicken prices also increased considerably in the market.

Beef was selling at Tk 820-Tk 880 per kg, broiler chicken at Tk 230-240, Sonali chicken at Tk 360-380 and indigenous (local chicken) at Tk 700-750 per kg, marking a Tk 20-40 increase in a week.

Ramjan Ali, a vendor at East Rayer Bazar in the city, said demands for meat and chicken have increased ahead of Eid festival.

tonmoy.wardad@gmail.com

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