Green chilli shows no sign of cooling off

In a sizzling turn of events, green chilli prices soared to a record Tk1,000 per kg in the wake of Eid festivities last week. Though swift import and different market monitoring measures managed to temper the fiery rates slightly, the spice witnessed a resurgence as the week drew to a close.

Amid market raids by consumer rights agencies in several districts and imports through the land ports, green chillis were retailed at Tk550 per kg on Thursday in Dhaka. Meanwhile, tomato prices spiked to Tk 250-260 per kg, potato to Tk 50 and onion to Tk 90.

Green chilli prices reached unprecedented levels of volatility last week, with prices soaring to Tk 500-1000 per kg between June 30 and July 2.

Prices then moderated to Tk 280-300 on July 3, only to rise again to Tk 400-500 per kg on July 4. As of July 6, the retail price in Dhaka city stood at Tk 400-550 per kg, according to kitchen market sources.

The Directorate of National Consumers Right Protection (DNCRP) conducted simultaneous drives in Dhaka and 35 other districts on the same day, resulting in fines of Tk 0.605 million being imposed on 90 entities.

However, these market interventions and limited imports had little impact as wholesale prices in the city remained at Tk 325-360 per kg.

However, these market interventions and limited imports had little impact as wholesale prices in the city remained at Tk 325-360 per kg.

Muhammad Liakat Hossain Khan, Deputy Director of the Plant Quarantine Wing under the agriculture ministry, told the FE that so far, only 528 tonnes of chilli have been imported, despite permission being granted for 51,380 tonnes.

He said importers initially showed interest but are now reluctant due to higher import costs. A similar situation is occurring with tomatoes, as prices have notably risen in India.

Consequently, tomato prices have surged to Tk 250-260 per kg in Dhaka retail markets due to a shortage of local crops and increased import costs.

Stored potatoes of the granola and cardinal variety have seen a price increase from Tk 35-40 to Tk 45-50 per kg.

Over the past week, local and imported onion prices have risen by Tk 10-15 per kg. On Thursday, local onions were sold at Tk 80-90 per kg, while Indian onions were priced at Tk 50-60 per kg.

Brinjal prices have also experienced a remarkable hike, reaching Tk 80-100 per kg compared to Tk 50-70 per kg a week earlier.

Anwar Hossain, a vegetable trader in the Rayerbazar-Beribadh area, said vegetable prices have risen in rural areas due to heavy rainfall across the country over the past two weeks.

Potato prices have increased by Tk 4.0-60 per kg in the cold storages over the past one and a half weeks, he added.

Humayun Kabir Bhuiyan, secretary of the Consumers Association of Bangladesh (CAB), said the commerce ministry and the agriculture ministry should  jointly set prices of some essential items immediately to prevent market volatility.

He said the maximum retail prices of produce like green chilli, potato and tomato should be fixed amid traders making a quick buck, while exemplary punishment should be ensured for price manipulation.

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