The New Nation - Internet Edition

BUSINESS REPORT

Prices of different varieties of coarse rice shot up again at wholesale markets mainly because of season-end and suspension of rice import from India, market sources said.

They said the prices of finer quality of rice like Miniket and Najirshail rose considerably following the price hike of coarse varieties.

As of Sunday, Pari, an Indian variety was selling between Tk 1204 and Tk 1220 per maund, up by Tk 80 each maund.

Swarna, another coarse variety is being sold at Tk 1140 each maund, up by Tk 90 each maund.

Miniket variety is being sold between Tk 1520 and Tk 1560 each maund at wholesale level while Nazirshail is being sold between Tk 1370 and Tk 1500 each maund.

While talking to The New Nation, Alamgir Hossain, a leader of Krishi Market Wholesale Rice Merchants Association at Shyamoli in the city, said the prices of coarse varieties of rice increased following end-of-season period and suspension of rice import by India.

"We are expecting the prices will go down soon after the new harvest," he added.

Traders said there is adequate stock of rice at the wholesale level in Dhaka and the supply will last for sometime.

Kazi Ismail Hossain, proprietor of Kazi Rice Agency at Krishi Market told The New Nation that they have sufficient stock, enough to meet the demand for the next few weeks.

"Those who have been procuring rice over the past two days, are buying it at higher prices. But, the number of such wholesalers are few in number in Dhaka," Ismail added.

Saiful Islam, owner of Islam Auto Rice Mill at Shantahar in Bogra, a miller, said the prices of Miniket and other local varieties will go down sharply by next two to three weeks when harvest of paddy begins.