Surprise drop: Dhaka's beef prices at two-year low

Beef prices in Dhaka city have been showing an interesting trend, with many traders reducing the price to a two-year low of Tk 600 a kg.

Meanwhile, other traders are retailing it at Tk 700-Tk 750. Just a week and a half ago, the prices were Tk 750-Tk 800 a kg.

The latest minimum price is at a two-year low, according to data of the Trading Corporation of Bangladesh (TCB).

'Khorshed Meat Shop at Malibagh, Khalil Meat Shop at Khilgaon have been selling beef at Tk 600 a kg for the last one and a half weeks, down from Tk 780-Tk 800 a kg.

These two shops usually maintain premium quality and have a bit higher prices throughout the year.

However, they suddenly began selling beef at Tk 600 per kg, and their sales increased fivefold due to high demand.

On Thursday, Khalil sold meat from 25 cattle, said Abdur Rahim, a salesman at the outlet.

Najmul Hossain, a resident of Khilgaon, said that the market price of beef was Tk 750 a kg.

However, he observed that cows were being slaughtered in front of their eyes and sold at a discount of Tk 150. “I am buying two kgs,” he said.

Khorshed Alam, the owner of the Khorshed Meat Shop, said that he is slaughtering 18 to 20 cows a day amid the huge demand.

He mentioned that prices of cattle weighing 100-120 kgs have come down by Tk 8000-Tk10,000 amid due to low demand across the country amidst rising inflation.

“We are taking in less per kg but making big profits through big sales, he said. He claimed that all meat traders could sell beef at Tk 600 if they want.

Following Khorshed and Khalil’s lead, many shops in Bashabo, Malibag, Taltola and Khilgaon started selling beef at Tk 600-Tk 650. Traders in other areas also were forced to reduce prices to Tk 700-Tk 750 a kg.

Abdul Gani, a resident of West Rampura, alleged that he bought two kgs of meat from Khorshed Meat Shop, but half of it was bones, fats, parts of the head, leg, tail, and lung.

Rabiul Alam, the secretary of Bangladesh Meat Traders Association, criticised traders like Khalil and Khorshed for providing fats and tails in the name of meat, calling it ‘treachery with consumers’.

He mentioned that traders selling only 40-50 kgs of meat a day would be forced to close their shops. He emphasised the need for city corporations to ensure quality meat.

Mostafa Mortuza Montu, the owner of Bismillah Gosto Bitan, a meat shop at Fakirer Pool in the city, said he is selling beef at Tk 750 a kg. “I have bought cattle at Tk 81,000, which would yield a maximum of 120 kgs of meat," he said. “I could also sell meat at such a lower rate if I compromise on quality,” he said.

Mr Montu, also the president of Bangladesh Meat Traders Association, called for the livestock department and the veterinary section of the city corporations to monitor whether healthy cattle are being sold or not.

He also highlighted extortion and higher tax realisation at the Gabtoli permanent cattle market as the key reasons for higher beef prices across the country. He noted that hundreds of meat shop owners who have not yet obtained licences from the city corporations are being charged Tk 2500-Tk 5000 by the Gabtoli Market lease holder instead of the usual Tk 100 fee.

However, Khorshed and Khalil's initiative to sell 'economic beef' has had an impact on the mainstream market. According to TCB, beef was sold at Tk 730-Tk 750 a kg in the city on Thursday, down from Tk 750-Tk 800 a week back.

Bangladesh has a demand for 10 million cattle annually, and the country has become self-sufficient in cows, according to the Department of Livestock.

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