The New Nation - Internet Edition

Staff Reporter

With the increase in supply and launching anti-hoarding drives, rice prices have started to coming down in the city's wholesale markets.

Wholesalers of rice said the rice prices would go back to its previous positions if the supplies remain normal. They urged the government to maintain strict vigilance on the country's largest rice markets in the northern districts.

According to the wholesalers, rice is coming from northern districts of the country. But the number of customers has gone down.

They said being scared of growing prices, many people got involved in panic buying of rice last week. It led to the price hike of rice, creating apprehension of deficit. But, a totally different picture prevailed in the city's wholesale rice markets yesterday. Rice prices declined as supplies were increased.

Swarna rice imported from India was selling at Tk 31.89 to Tk 32.15 per kg in thw city's wholesale markets yesterday, while Parijat at Tk 31.15 to Tk 32.15 per kg, Miniket at Tk 38.85 to Tk 40.19 per kg, Gooti at Tk 30.54 to Tk 32.15 per kg, Paijam at Tk 37.51 per kg, and Najirshail at Tk 32.15 to Tk 37.51 per kg.

Besides, the supplies of rice imported from India have also increased. As a result, rice prices have declined by Tk 40 to Tk 50 per maund in the wholesale markets of Badamtoli and Babubazar.

The wholesale traders also indicated that rice prices were likely to go back to previous positions during this week.

They also called upon the government to strengthen vigilance on the millers across the country to bring stability to the rice markets.

The wholesalers also held rumour responsible for the unusual price hike of rice in the markets. In this regard, they urged the government to check the recurrence of such incidents in future.

Though the prices of rice in the wholesale markets have declined, its impact is yet to fall on retailers' levels. The prices of rice are yet to go down in the retail markets. But the prices in retail level remain static. Visiting Nayabazar, it was found yesterday that the rice was selling at higher prices as it were three days ago. Miniket rice was selling at Tk 45 per kg while coarse rice at Tk 35 per kg in retail markets yesterday.

Wholesalers at Babubazar told The New Nation yesterday that the supplies of rice increased in the last two days.

Though the stocks of rice were nearly exhausted three days ago in Babubazar, the supplies of some 600 sacks (51 tonnes) of rice were received during the last two days. The supplies included eight metric tones of Indian rice.

The wholesalers expected that the supplies of rice would increase further within the next few days.

However, expressing apprehension, the wholesalers said they would have to pay US$ 500 (Tk 35,000) to import one metric tonne of rice from India. It means one kilogram of rice would cost Tk 38 to Tk 40. "It will be very difficult to sell rice in the local markets importing at such higher prices," a wholesaler said.