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Vegetable Prices Drop, Rice and Chicken Prices Increase
Rtv News
24 Jan 2025, 14:18
Photo: File Picture
The vegetable market has stabilized due to an ample supply of winter greens. Additionally, prices of eggs, fish, and meat have not increased recently. However, the weekly market experience is still far from enjoyable for consumers as they have to pay high prices for rice and chicken. Many fear prices may rise further during the upcoming Ramadan.
On Friday (January 24), a visit to various markets in the capital revealed this scenario.
Vendors say rice prices have been high for several months. Despite initiatives like reducing tariffs and increasing imports during the Aman harvest season, prices remain unaffected. Depending on quality, the price of rice has increased by 5-6 BDT per kilogram.
For middle-class consumers, fine or Miniket rice is being sold at 80-82 BDT per kilogram. Coarse varieties like Guti Sharna, often consumed by the less privileged, are priced at 60-62 BDT per kilogram.
Additionally, retail prices of Nazirshail rice range from 85-90 BDT per kilogram, while medium-grain varieties like BR-28 and Paijam are being sold for 60-66 BDT per kilogram.
Overall, no variety of rice is available for less than 60 BDT per kilogram in the market.
Like rice, chicken prices have been rising for several weeks. Broiler chicken is now being sold at 200-220 BDT per kilogram. The price of Sonali chicken has also increased by 30 BDT per kilogram, now costing 330-350 BDT, compared to the earlier 300-320 BDT range.
However, there is some relief in egg prices. Farm eggs remain stable, with a dozen selling for 130-135 BDT in large markets and 140-145 BDT in neighbourhood shops.
Meanwhile, the price of potatoes, which caused concern in recent months, has now dropped to 20-25 BDT per kilogram. Onions are available for 40-50 BDT per kilogram. Other vegetables are priced as follows:
- Eggplant: 40-50 BDT per kilogram
- Beans: 30-50 BDT per kilogram
- Green Papaya: 25-30 BDT per kilogram
- Cucumber: 25-30 BDT per kilogram
- Bitter Gourd: 50-60 BDT per kilogram
- Radish: 15-20 BDT per kilogram
- Long Beans: 50-60 BDT per kilogram
- Carrot: 40-45 BDT per kilogram
- Sweet Pumpkin: 30 BDT per kilogram
Cabbage and cauliflower cost 15-20 BDT per piece, while bottle gourd costs 30-50 BDT per piece.
Grocery prices have remained mostly unchanged. Imported lentils are priced at 105-110 BDT per kilogram, while local fine lentils are sold at 130-135 BDT. Mung dal is priced at 165-170 BDT, and chickpeas cost 125-130 BDT per kilogram.
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Vegetable Prices Down While Rice, Chicken Prices Soar; Soybean Oil Crisis Persists
The vegetable market has shown some relief for the past two weeks as increased supply has brought prices down. However, rising rice, fish, chicken, and oil prices have disappointed consumers.
Vegetable Prices Down
This information was revealed during a visit to several markets in Dhaka, including Karwan Bazar and Mohammadpur Agricultural Market, on Friday (December 27).
Traders attribute the price drop to a reduction in political group extortion during transportation and less disruption in the markets. If this trend continues, prices may decrease further.
Rokon, a vegetable vendor at Karwan Bazar, said, "Supply has increased compared to before. Over the past week, prices of some vegetables have dropped by up to Tk10 per kg. If supply remains steady, prices will drop further."
Current market prices:
Eggplant: 50–60 BDT/kg
Bitter Gourd: 70 BDT/kg
Okra: 50 BDT/kg
String Beans: 60 BDT/kg
Radish: 20–30 BDT/kg
Stem Amaranth (Loti): 60 BDT/kg
Snake Gourd (Chichinga): 50 BDT/kg
Pointed Gourd (Potol): 35–40 BDT/kg
Other vegetable prices include:
Papaya: 30–40 BDT/kg
Carrots: 40–50 BDT/kg
Cucumbers: 50 BDT/kg
Tomatoes: 120–130 BDT/kg
Flat Beans (Shim): 40–50 BDT/kg
Turnips: 25–30 BDT/kg
Cabbage: 40–50 BDT per piece
Bottle Gourd: 50–60 BDT each
Besides this, coriander leaves are being sold at 30 BDT per kg, onion flowers at 30-40 BDT, new potatoes at 50 BDT, and old potatoes at 60 BDT per kilogram. Depending on the quality, each cauliflower is priced at 40 BDT, cabbage at 40-50 BDT, and gourds are sold for 50-60 BDT each.
The price of green chillies has also decreased. They are being sold at 50-80 BDT per kilogram, while the wholesale price is 40-60 BDT. Additionally, red spinach bundles are being sold for 10 BDT, jute leaves for 10-15 BDT, Malabar spinach for 30 BDT, bottle gourd leaves for 40 BDT, radish leaves for 10 BDT, stem amaranth for 10-15 BDT, water spinach for 10 BDT, and spinach for 15-20 BDT.
Onion Prices Fall
Prices of onions, especially the Murikata variety, have decreased due to increased supply. Last week, Murikata onions were 70–80 BDT/kg, but now they sell for 50–60 BDT/kg. Imported onions and older domestic varieties have also dropped by 30 BDT/kg.
Chicken Prices Rise Again
Despite government-imposed price controls in September, chicken prices have surged since mid-December. Over the past two weeks, prices have increased by 30–40 BDT/kg.
Current chicken prices:
Broiler Chicken: 200–220 BDT/kg
Sonali Chicken: 320–350 BDT/kg
Desi Chicken: 550–600 BDT/kg
White Layer Chicken: 230-240 BDT/kg
Red Layer Chicken: 280-300 BDT/kg
Ducks, depending on the breed: 550-650 BDT/per piece
Soybean Oil Crisis
Soybean oil prices rose by 8 BDT/litre on December 9, but even two weeks later, supply has not normalized. Retailers report that oil companies are providing limited quantities, insufficient to meet consumer demand.
Unstable Rice Market
Despite the ongoing Aman harvest season, rice prices remain high. Over the past two weeks, prices for fine rice have increased by 4–8 BDT/kg, while medium and coarse rice have risen by 2–3 BDT/kg.
Current rice prices:
Miniket: 74–78 BDT/kg
Atash: 60–62 BDT/kg
Coarse Swarna: 52–56 BDT/kg
Nazirshail: 76–85 BDT/kg
There is no relief in the fish market either, as fish continues to be sold at previously increased prices. Currently, per-kg prices are as follows:
Rui: 380 to 450 BDT
Katla: 400 to 480 BDT
Farmed Shing: 550 BDT
Farmed Magur: 500 BDT
Farmed Koi: 240 to 280 BDT
Coral: 750 to 800 BDT
Tengra: 550 to 700 BDT
Farmed Pangas: 180 to 230 BDT
Tilapia: 180 to 220 BDT
Additionally, per kilogram prices for other fish are:
Boal: 750 to 800 BDT
Poa: 450 BDT
Pabda: 350 to 450 BDT
Aair: 850 to 900 BDT
Local Koi: 1,300 to 1,700 BDT
Shing: 1,400 to 1,500 BDT
Shol: 900 to 1,000 BDT
River Pangas: 900 to 1,200 BDT
Some fish varieties, like local Catfish (Shing) (1,400–1,500 BDT/kg) and Boal (750–800 BDT/kg), are priced beyond the reach of average consumers.
Traders blame insufficient supply and profiteering by unscrupulous businesses. Regular monitoring and action are needed to curb such practices.
Chief Adviser to Inaugurate Trade Fair
The 29th Dhaka International Trade Fair (DITF) 2025 will be inaugurated by the Chief Adviser of the Interim Government, Professor Dr. Muhammad Yunus.
The information was shared by the Chief Adviser's Press Wing on Sunday, December 29.
It has been confirmed that the Ministry of Commerce and the Export Development Bureau are jointly organizing the 29th Dhaka International Trade Fair (DITF) 2025, which will begin on Wednesday, January 1, 2025.
The fair will be inaugurated by Professor Muhammad Yunus at 10:30 am at the Bangladesh-China Friendship Exhibition Center (BCFEC) in the newly developed city of Purbachal.
Remittance Inflow Reaches $2.42 Billion in 28 Days of December
In the first 28 days of December, remittance inflow to Bangladesh amounted to $2.42 billion. On average, the country received $86.4 million in remittances per day during this period.
This information was revealed in an updated report by the Bangladesh Bank on Sunday (December 29).
According to the report, $2.42 billion in remittance was received during the first 28 days of December. In comparison, $2.05 billion and $2.16 billion were received during the same period in November and October, respectively. The remittance inflow has increased in the first four weeks of December compared to October and November.
In the first four weeks of December, state-owned banks handled $689.58 million in remittance, specialized banks facilitated $92.69 million, private banks processed $1.63 billion, and foreign banks managed $6.92 million.
The report further stated that from December 22 to 28, $413.32 million in remittance was received. From December 15 to 21, the figure was $625.87 million. Between December 8 and 14, the country received $764.91 million in remittance, while in the first week of December, expatriates sent $616.45 million.
Earlier, in June this year, remittance inflow was $2.54 billion, while in July, the first month of the current fiscal year, the figure dropped to around $1.91 billion, marking the lowest inflow in the past 10 months.
In July 2020, Bangladesh recorded the highest remittance inflow in five years, with expatriates sending $2.60 billion that month.
Gold Prices Drop Again
The Bangladesh Jewellers Association (BAJUS) has again decided to reduce gold prices. This time, the price of 22-carat gold has been decreased by 1,050 BDT per bhori, setting the new price at 138,288 BDT per bhori. The revised prices will come into effect from today, Monday (December 30).
The organization confirmed this in a press release on Sunday evening (December 29). With this adjustment, gold prices in the country have been revised 62 times this year, including 35 increases.
According to the BAJUS press release, the price of pure gold in the local market has decreased. Considering the overall situation, new gold prices have been set. As per the updated prices, 22-carat gold will cost 138,288 BDT per bhori (11.664 grams). However, a 5% government-mandated VAT and a 6% minimum wage set by BAJUS must be added to the selling price. The cost of jewellery may vary depending on its design and quality.
Earlier on December 23, BAJUS reduced gold prices, lowering the price of 22-carat gold by 1,248 BDT per bhori, setting it at 139,338 BDT. At that time, the price for 21-carat gold was set at 133,005 BDT per bhori, 18-carat gold at 114,004 BDT per bhori, and traditional gold at 93,604 BDT per bhori, effective from December 24.
However, despite the drop in gold prices, the price of silver in the domestic market remains unchanged. A bhori of 22-carat silver is sold at 2,578 BDT, while 21-carat silver is priced at 2,449 BDT, 18-carat silver at 2,111 BDT, and traditional silver at 1,586 BDT per bhori.
Dhaka Trade Fair Opens Today
The curtain rises on the 29th edition of the Dhaka International Trade Fair (DITF) today. The Chief Advisor of the interim government, Professor Dr. Muhammad Yunus, will inaugurate the fair.
On Wednesday (January 1), the Chief Advisor will officially open the event at 10:30 AM at the Bangladesh-China Friendship Exhibition Center in Purbachal, a joint initiative of the Ministry of Commerce and the Export Promotion Bureau (EPB). Present at the opening ceremony will also be Commerce Advisor Sheikh Bashir Uddin and EPB Vice-Chairman Md. Anwar Hossain.
According to EPB sources, this year's trade fair will feature 362 stalls and pavilions, including 11 exhibitors from seven countries, such as India, Pakistan, Turkey, Malaysia, Indonesia, Singapore, and Hong Kong. The fair will highlight themes like the July-August uprising with special sections named "July Square," "Thirty-Six Square," and the "Youth Pavilion." For the first time, e-ticketing has been introduced, and online booking options are available for various stall categories. Additionally, the fair will provide dedicated BRTC bus services and discounted Uber rides to facilitate visitor transport.
Seminars focused on promising sectors and products will be held during the fair. For international entrepreneurs and businesses, there will be a dedicated sourcing corner and specialized zones for electronics and furniture. Facilities such as a technology corner for younger visitors and a sitting corner for senior citizens have also been arranged.
Around 300 BRTC buses will operate from Kuril, Bhulta, Gazipur, and Narayanganj for the convenience of visitors. The fair will run daily from 10:00 AM to 9:00 PM. Entry fees are set at 50 BDT for adults and 25 BDT for children. The organizers are optimistic about higher visitor turnout compared to previous years.
Special Loans of Tk 12,500 Crore Granted to Three Banks
To cover deficits from the outgoing year, Bangladesh Bank has provided special loans totaling Tk 12,500 crore to three private-sector banks. These funds were used by the banks on Monday, the final day of the year, to address deficits in their current accounts. As a result, the current accounts of these three banks were shown in surplus.
The three banks that received special loans are Islami Bank, National Bank, and AB Bank.
Officials from Bangladesh Bank stated that the loaned funds will be reclaimed by the central bank today (Wednesday) to balance financial accounts. Additionally, outside of the special loans, AB Bank received Tk 200 crore in separate liquidity support.
Reasons Behind the Loan
According to sources, these three banks have faced severe liquidity crises over the last 15 years due to various irregularities. Of particular note, Islami Bank—after coming under the control of the Chattogram-based S. Alam Group—suffered major misuse of funds, with the group extracting Tk 73,000 crore through irregular loans, representing almost 50% of the bank’s total loan portfolio.
Similarly, National Bank has been exploited by its stakeholders, including Sikder Group, alongside entities like Beximco, Maisha Group, Bashundhara, FMC, Saif Port Holdings, Saif Powertec, NASA, Fu-Wang Foods, SS Steel, and Karnaphuli Group, all of whom extracted large sums under the guise of loans. Many of these loans are now non-performing. Among them, the loans taken by the late Aslamul Haque's Maisha Group—a former ruling party MP—have already defaulted.
Other notable defaulters include Bloom Success International, Broadway Real Estate, Nurjahan Group, Diking Smart Battery, Ehsan Group, Millennium Group, Opex Sinha Group, Mariam Construction, RSA Capital, Keya Cosmetics, Independent TV, and GMG Airlines.
AB Bank has also been struggling with liquidity issues for years due to irregularities. One of its key founding figures is former BNP foreign minister M. Morshed Khan, under whose family control the bank operated for years. The bank has also been involved in significant fraud and irregularities.
The Central Bank's Intervention
Due to irregularities, these banks have long failed to meet the required Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) set by the central bank. The treasury bills and bonds they held for SLR purposes had already been mortgaged to secure loans from the central bank, leaving them without further collateral to raise funds.
As a result, Bangladesh Bank granted these special loans to ensure that the banks could show surplus balances in their current accounts on the last day of the year.
Of the Tk 12,500 crore loan, Islami Bank received Tk 5,500 crore, National Bank received Tk 6,000 crore, and AB Bank received Tk 1,000 crore. These loans come with an interest rate of 11.5%. The borrowed funds, issued on Monday, are to be returned on Wednesday (January 1).
Additionally, apart from the Tk 1,000 crore special loan, AB Bank was granted an extra Tk 200 crore to meet its daily liquidity needs.
Highest Remittance in the Country's History Recorded in December
The country received the highest-ever remittance in its history, amounting to $2.64 billion (or $2.639 billion). In local currency terms (calculated at 120 BDT per dollar), this translates to approximately 31,668 crore BDT.
This is the largest amount of remittance recorded in a single month. Previously, the highest monthly remittance was $2.59 billion, received in July 2020 during the COVID-19 period. That record has now been surpassed in December 2024, the Victory Month of Bangladesh, according to data from the Bangladesh Bank.
Bangladesh Bank data reveals that nearly $2.64 billion in remittance was received throughout December 2024. This amount is $648 million higher than the same period last year. In December 2023, the country received $1.991 billion. Excluding July 2024, remittance inflow exceeded $2 billion in all other months of the year.
Data also shows that in the first half of the current fiscal year 2024-25 (July–December), expatriate Bangladeshis sent remittances totaling $13.777 billion. This marks an increase of $2.977 billion compared to the same period in the previous fiscal year when remittance inflows amounted to $10.8 billion.
