The impact of increased procurement price on coarse rice appears to have reached the city market as cost of the rice went up by Tk 2 to Tk 4 a kilogram in three to four days.
Wholesalers across the country said they feared further decline in the supply of coarse rice to the market with the possibility of further increase in rice prices.
The commerce secretary, Ghulam Hossain, said the commerce ministry found that rice prices had increased by Tk 1 to Tk 2 a kilogram in a week.
The commerce secretary, Ghulam Hossain, said the commerce ministry found that rice prices had increased by Tk 1 to Tk 2 a kilogram in a week.
Up by Tk 2 a kilogram in the week, the ordinary grade lali mota rice was retailed between Tk 30 and Tk 31 on Friday at Nakhalpara in Dhaka. Coarse variety guti rice was retailed between Tk 34 and Tk 36, up by Tk 3 in four days.
'When prices increase on the wholesales market, it also creates impact on the retail market,' Kamal Hossain, a retailer at Nakhalpara, said.
'When prices increase on the wholesales market, it also creates impact on the retail market,' Kamal Hossain, a retailer at Nakhalpara, said.
Jahangir Hossain, a wholesaler at Badamtali, said price of all verities of rice had increased by Tk 50 to Tk 100 a maund (37.3km) in a week.
'Rice prices have already started increase because of persistent shortage of paddy supply on the farmers' market,' Jahangir said. 'The latest round of increase in rice prices has taken place after the government increased procurement price.'
'Rice prices have already started increase because of persistent shortage of paddy supply on the farmers' market,' Jahangir said. 'The latest round of increase in rice prices has taken place after the government increased procurement price.'
Jahangir's wholesale shop on Wednesday sold coarse lali mota rice for Tk 28.14 and guti rice for Tk 32.70 a kilogram. The price was up by more than Tk 2 in three to four days, he said.
The Badamtali wholesaler said after the government had increased procurement price, they noticed a decline in the supply of coarse rice.
The Badamtali wholesaler said after the government had increased procurement price, they noticed a decline in the supply of coarse rice.
Pradyut Sarker, a rice trader from Pulhat in Dinajpur, said rice prices, after registering an increase in the past week, however, remained somewhat stable in the place on Wednesday.
Ordinary grade hybrid coarse rice sold for Tk 27.7 a kilogram in bulk trading at Pulhat on Wednesday. It sold for Tk 26.2 a week ago.
'The millers are confused whether the new procurement price would apply to August deliveries and they are keeping watch on the market,' Pradyut said. 'Such confusion has at least prevented further increase in coarse rice prices for the time being.'
Ordinary grade hybrid coarse rice sold for Tk 27.7 a kilogram in bulk trading at Pulhat on Wednesday. It sold for Tk 26.2 a week ago.
'The millers are confused whether the new procurement price would apply to August deliveries and they are keeping watch on the market,' Pradyut said. 'Such confusion has at least prevented further increase in coarse rice prices for the time being.'
The food ministry on July 1 decided to offer Tk 3 in cash incentive on the purchase of a kilogram of rice as it was failing to procure rice because of the prevailing high market price.
By the end of June, the government could procure only 2.6 lakh tonnes of rice against the target of 12 lakh tonnes. The dealers made more profit from the market by not selling the rice to the government for Tk 25 a kilogram.
By the end of June, the government could procure only 2.6 lakh tonnes of rice against the target of 12 lakh tonnes. The dealers made more profit from the market by not selling the rice to the government for Tk 25 a kilogram.
The food minister also said the government would monitor whether the incentive would result in an increase in rice prices.
The commerce secretary, Ghulam Hossain, said the ministry found that prices of rice had increased by Tk 1 to Tk 2 a kilogram in a week.
Ghulam said, 'Rice procurement price has been increased to secure enough stock and to pay enough price to growers but consumers suffer because of the impact of the price increase.'
'Rice procurement and price fixation is coordinated by the food ministry,' he said, adding that he had informed higher authorities of the latest round of rice price increase.
http://www.newagebd.com/2010/jul/08/front.htmlThe commerce secretary, Ghulam Hossain, said the ministry found that prices of rice had increased by Tk 1 to Tk 2 a kilogram in a week.
Ghulam said, 'Rice procurement price has been increased to secure enough stock and to pay enough price to growers but consumers suffer because of the impact of the price increase.'
'Rice procurement and price fixation is coordinated by the food ministry,' he said, adding that he had informed higher authorities of the latest round of rice price increase.
On 7/5/10, Isha Khan <bdmailer@gmail.com> wrote:
Samakal: http://www.samakal.com.bd/details.php?news=13&action=main&option=single&news_id=76853&pub_no=387
On 6/29/10, Isha Khan <bdmailer@gmail.com> wrote:Uptrend in rice price worries people
Even after satisfactory harvest of Boro this year and stable supply chain, the prices of different varieties of rice remained high in the city's kitchen markets yesterday, said traders. The present stock of rice is satisfactory compared with the previous years, they said. But, the uptrend in rice price has caused concern to the commoners, as they strongly expected that the price of rice would have been decreased to a tolerable level.
The prices of different categories of rice shot up between Tk 2 and Tk 4 per kg for the last one-month in the city's markets, according to traders.
In the city's retail markets, per kg of coarse rice was sold between Tk 27 and Tk 28 in the previous months. But, it was now selling between Tk 30 and Tk 32 per kg.
Minicate was sold between Tk 42 and Tk 44. Nazirshail depending on quality was sold between Tk 42 and Tk 46. Paizam was sold between Tk 35 and Tk 36 yesterday.
During the first quarter part of the current year, the coarse variety of rice was sold between Tk 20 and Tk 24 per kg in the city's kitchen markets.The limited income people especially labourer class were benefited by the price. They are now hard hit by the coarse rice price.Earlier, the Ministry of Food and Disaster Management had introduced Open Market Sale (OMS) of rice to bring stability in the retail level price.
The shut down of OMS might have added price hike of rice especially coarse variety, according to market experts. They suggested Government to reintroduce OMS before the upcoming month of Ramzan.
Trades at Badamtali rice markets told The New Nation that a section of rice mill owners in the northern districts have stocked huge quantity of rice by taking bank loans. They alleged that the unscrupulous mill owners drastically reduced per day quantity of their rice sale to the retailers in recent days, trying to create an artificial price hike.
In the 2008-09 fiscal, the total demand of food in the country was 2 crore 67 lakh metric tonnes against the total production of 2 crore 83 metric tonnes.
The target food production during the current fiscal was earmarked 2 crore 90 lakh metric tonnes against the production of 3 crore 44 lakh metric tonnes, according to the Ministry of Agriculture and Bangladesh Bureau of Statistics (BBS).
Presently, there are about 7 lakh metric tonnes of food stock in the government silo, said a source in the Directorate of Food yesterday. The government will take measures to ensure 'price stability' in the rice market by curbing 'machination of profit monger traders', said a highly placed source of the Ministry of Food.
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