As Eid-ul-Azha approaches, the prices of all types of spices have surged alongside fish, meat, potato, and green chili, with traders attributing the hikes to fluctuating US dollar rates and local currency devaluation. This economic scenario has exacerbated inflation, affecting goods produced domestically.
Currently, cumin is retailing at Tk850 to Tk1,000 per kg, up from Tk570 to Tk650 earlier this month. Cardamom prices have similarly spiked, with the minimum retail price rising to Tk3,800 from Tk2,800, and premium quality now selling at Tk4,200 per kg. Garlic prices range from Tk220 to Tk270 per kg, ginger from Tk240 to Tk300, local onions at Tk80 per kg, green chili from Tk180 to Tk230, and dry red chili from Tk550 to Tk650 per kg in the capital.
Spice retailer Shourab Saha from Karwan Bazar noted that spice prices typically rise ahead of Eid, but this year, the increase is driven by the record-high dollar rates. Wholesalers cite higher import costs due to the expensive US dollar, used for international trading, as the reason for the price hikes.
The wholesale price of white pepper has jumped to Tk1,300 from Tk1,000, cashew nuts are now Tk1,400 up from Tk1,200, and chickpeas have risen from Tk102 to Tk130 per kg. Ramzan Ali from Chadpur Traders expressed frustration at the recent price surge, suggesting a syndicate may be manipulating the market.
Beef prices have also increased, selling between Tk750 to Tk780 per kg, with mutton and goat meat at Tk1,000 to Tk1,180 per kg. Fish prices have seen significant rises as well, with Ilish selling at Tk650 to Tk2,000 per kg based on weight and quality.
Despite the fluctuations in spice and meat prices, the prices of vegetables have remained relatively stable but at higher rates than previous years. Traders blame inflation for these sustained high prices. Eggplant, okra, drumsticks, string beans, and bitter gourd are selling between Tk50-60 per kg, while good quality tomatoes are priced between Tk60-70 per kg.
Other commodities such as rice, wheat, flour, milk, soybean oil, aromatic rice, and sugar have remained unchanged. The overall trend reflects the significant impact of currency devaluation and inflation on consumer goods prices in Bangladesh.
