Dinajpur, renowned for its grain reserves, faces market turbulence once again as the prices of all rice varieties spike by Tk4 per kg, affecting low-income families in the district.
A mere week ago, Miniket rice stood at Tk64 per kg, now soaring to Tk70. Similarly, Guti Swarna escalated from Tk45 to Tk50, Brri-28 from Tk54 to Tk58, and Brri-29 from Tk52 to Tk56.
Bahadur Bazar, the district’s primary rice hub, witnesses a uniform increase of Tk4 per kg across all rice types. The price of 25 kg rice bags surged from Tk100 to Tk125, while 50 kg bags escalated from Tk100 to Tk250.
Wholesale rice trader Ranjit attributes the hike to elevated procurement costs from mills, hinting at price manipulation by syndicates. He laments the lack of market oversight, emphasizing the persistent nature of price increments once initiated.
The sudden price surge disproportionately impacts the working class and low-income groups, eliciting calls for regulatory interventions to stabilize the market. Regular raids on mills and wholesale outlets are proposed as potential deterrents to market manipulation.
Humayun Reza Shamim, President of Dinajpur Chamber of Commerce and Industries, highlights the market’s current rice supply shortage, anticipating a price correction post-Irri paddy harvest.
However, retail traders decry the price hikes during Ramadan, attributing them to illicit hoarding practices among wholesalers and mill owners. Ershad, a wholesale trader, notes a significant decline in rice sales owing to the abrupt price surge.
The prevailing market uncertainty underscores the urgent need for regulatory measures to curb price manipulation and ensure equitable access to essential commodities for all segments of society.
