Rice prices increase as banks hike US dollar rates

Prices of all varieties of rice have increased in the country's wholesale and retail markets within just a week.

Prices of all varieties of rice have increased in the country's wholesale and retail markets within just a week.

The price of a sack of 50kg rice have increased by Tk 50, while the prices have increased by Tk 2 to Tk 3 at the retail level.

Traders said the prices of imported rice have increased due to unusual hike of US dollar price by the country's commercial banks.

On the other hand, they said prices of local varieties of rice have increased due to shortage of stock.

Whatever the reasons the traders cite behind the rice price hike in the markets, consumers are facing great difficulties to buy rice. So, they are very angry.

Though the government has taken various steps to bring down the prices of rice, the markets are yet to be stabilised.   

While visiting different rice markets in the capital on Friday, it was found that prices of all varieties of rice including Nazirshail, Jirashail, Katari, BRRI-28, Miniket and Swarna have increased by Tk 2 to Tk 3 per kg.

Wholesalers said they have to make import payments buying US dollar at unusually high rates charged by the commercial banks. Because of this single reason, prices of all varieties of rice have increased.

Besides, stock of rice in warehouses and godowns has declined.

Menwhile, prices of green chili in the kitchen markets have increased by Tk 40 per kg after just a day. Vegetable vendors said the prices of green chili went up due to short supplies.