The New Nation - Internet Edition

Our Correspondent, Chittagong

Although a slight fall of rice prices were recorded in the port city's wholesale markets on Saturday, ordinary consumers might need long waiting to benefit from it.

A move around the wholesale markets in the city revealed that the price of rice depending on variety and quality dropped by Taka 140 to 170 for each sack containing 50 kilograms.

Retailers in most cases did not review the prices. Some of the retailers downed the price of the lowest grade of rice only by a Taka each kilogram.

Traders and importers claimed that the price fall took place following arrival of imported rice from India. "The rice market may see further fall in the coming weeks when rice from Myanmar starts arriving," they said.

According to a source at the office of controller of foods, nearly 17,000 metric tonnes of rice had been waiting discharge at the Chittagong Port.

Omar Azam, General Secretary of Chaktai Rice Traders Association, said India's decision to raise the price of rice had serious impact on the local market. But the prices fell Wednesday and on Thursday, he added.

Meanwhile, prices of both paddy and rice are on the declining trend in the markets of Chuadanga district from Sunday.

The paddy was being sold between Taka 800 to 820 per 40 kg only three days ago in the markets which was sold between Taka 600 to 650 per 40 kg on Sunday and Monday.

Besides, coarse rice is being sold at a price between Taka 28 to 30 per kg from Sunday.

which was sold Taka 30 to 35 per kg three days back.

It is suspected that rice traders hoarded paddy and rice for maximising profit, but as the government has decided to start open market sale the hoarders started marketing their paddy which resulted to decline in price.

The price of paddy and rice would be further decreased, it is expected.