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In the run-up to the Eid-ul-Azha, prices of locally produced spices, including ginger, garlic, green chilli and onion, have become prohibitive in the last one week, forcing consumers to cut their consumption.
Ginger price hit all-time high of Tk300-360 a kg in the city markets on Tuesday. Many groceries have stopped to buy the commodity amid such high rates in the wholesale market.
Jewel Rana, a grocer at West Dhanmondi, said wholesale price of the item reached Tk1,400 a palla (five kg unit) at Karwan Bazar.
"I brought only one palla on Monday evening. People are buying ginger in tiny amount of 50 or 100 grams following such exorbitant rise in the price," he said.
He added two thirds of the spices remained unsold till Tuesday evening.
Meanwhile, green chilli price hit Tk 160 a kg on the day marking Tk40-50 hike a kg in last one week.
Onion price also showed a notable hike in last one and a half weeks as it sold at Tk60-70 a kg on Tuesday.
Garlic was retailed at Tk 160-200 a kg depending on qualities.
Spice trader at Shyambazar Narayan Chandra Saha said import almost stopped amid higher prices in China and the rocketing appreciation of the US Dollar.
He added a certain amount of ginger comes from India and Myanmar which is being sold at Tk 180-220 a kg at Shyambazar.
He said local production was dull this year while import has also squeezed resulting in such hike.
He said further import dependence makes the spice market volatile from time to time.
The country has a demand for 0.5 to 0.6 million tonnes of ginger while it produces only 80,000 tonnes, according to the commerce ministry.
The shortage is covered through imports from China, India and Myanmar.
Consumers Association of Bangladesh (CAB) vice president SM Nazer Hossain said government's poor market monitoring has encouraged traders to fix prices as per their wish. He added there is still a huge gap between import costs and the retail prices of ginger and garlic.
Onion price has been rising during this peak harvesting and primary trading period amid lack of any market vigilance.
Prices of potato, sugar and edible oil have also become volatile recently for the same reason, he said.
He added the government agencies concerned should conduct effective drives to bring some balance in the market.