[ALOCHONA] Sugar, lentil prices rise further

Sugar, lentil prices rise further
Courtesy New Age 9/9/09

Staff Correspondent

Sugar price increased further in the city’s wholesale and retail markets Tuesday while real market prices of red lentil, rice and onion varied widely with rates appeared in the routine monitoring report of state-owned TCB.
   Market sources said retailers’ rush for building Eid stocks fuelled the latest sugar price jump as the sweetener’s price soared to Tk 1,900 per maund (37.3 kilogram) at wholesale market Tuesday from Tk 1700 of a week ago.
   Supplies to wholesale market remained tight as the refiners’ cartel was still in control of the sugar market despite the FBCCI’s assurance of looking into the matter.
   ‘Shortage of ready stocks was mainly pushing up sugar price sharply in the past three to four days,’ said Mohammed Ali, a wholesaler at Maulvibazar commodity market in the city.
   On Tuesday, sugar retailed between Tk 52 and Tk 56 per kilogram, up by Tk 6 in a week.
   Trading Corporation of Bangladesh puts the rate at Tk 49.30 to Tk 50 a kg.
   Price hikes of sugar at import sources due to production shortfall in India and Barzil affected supplies to import-dependent countries like Bangladesh, market sources said.
   Retail price of the essential sweetener increased Tk 10 per kg in a month and Tk 20 in three months.
   Price of red lentil has also increased at least Tk 4 per kg in the past three or four days.
   Inferior grade imported red lentil retailed Tk 102-106 and fine grade local variety sold at Tk 120-124 per kg, marking a rise by Tk 10 to Tk 15 in four weeks.
   TCB’s market monitoring report claims that red lentil prices ranged between Tk 95 and Tk 110 Tuesday.
   Wholesalers as usual put the blame on import market volatility.
   Rice started seeing fresh increase in wholesale price two weeks back and gained further in retail prices this week.
   Coarse parboiled rice sold for Tk 22- 24 and fine rice between Tk 30 and Tk 34, gaining on an average Tk 2 per kg over the week.
   But, coarse rice price was quoted at Tk 18.75, medium quality Tk 24.91 and fine rice between Tk 29 and Tk 40 a kg in the TCB’s routine report.
   Onion price also started increasing early this week as traders were building stocks for Eid windfall.
   Imported Indian onion sold per kg at Tk 26-28 Tuesday at Nakhalpara Bazar, up by Tk 2 over the week.
   According to TCB, imported onion price ranged between Tk 15 and Tk 18, almost half their real market prices.

 

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