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Rice price sharply declining in city market

GreenWatch Desk Food 2024-05-13, 3:18pm


Price of most rice varieties found declining sharply in the city markets for the last two weeks while lowering of staplefood price likely to be continued till further period.

The price of medium and coarse variety rice has been declined and thesituation would continue for at least next two months due to current Boroharvest which likely to be continued till the middle of the next month.
While visiting city's Kawran bazaar and Mohammadpur Government Krishiwholesale market found that the price of all sorts of medium and coarsevariety rice has declined up to Taka 3, in per kilogram, compare to the pricestood in last week, reports BSS.
The retail price of medium fine quality Miniket rice is being sold at Taka 66per kg, while it was sold at Taka 68 before a week.
At the wholesale market, the price of a 50-kg sack Miniket rice now is beingsold at Taka 3,215, declined from Taka 287 from the earlier Taka 3,500, saidMorshed Alam, a wholesaler of Mohammadpur Govt Krishi market.
"The rice price is declining with a range of Taka 100-150, per 50-kg sack, onan average.”The price fall situation likely to be continued for one and halfmonth", said the whole seller.
Even the price of coarse variety 'BR-28' is being sold at Taka 52 per kg,declining by Taka 3 from the earlier price of Taka 55 where selling price ofper 50-kg sack stands at Taka 2500, decline from Taka 2730-2750, a week ago.
Talking about the present rice price situation, noted farm economist DrJahangir Alam said “there is no chance of rice price hike in the next twomonths as the overall yield of Aman and Boro has crossed the optimum level."
Dr Alam, however, continued that the rice price likely to be declined more incoming days as the Boro is contributing 54 percent of the total rice output.
Even the rice price is getting lower as the new harvest flooding the marketwhich is ultimately resulting in the growers usually sell 60 percent of theirtotal harvest during this season, the economist added.
The lower rice price situation will not continue for long period as the Boroyield in the haor area was although good, but the other areas across thecountry was not up to the mark due to prolonged drought", said Nirod BaranSaha, general secretary of Rice Arotdar Samity.
Rejecting the estimate of the optimum Boro output, the Arodar Samity leadersaid the Boro production has been hampered 3 to 5 maund in a bigha indifferent areas excepting the haor region as haor area contributes only 13percent of the boro output.
About Boro production, Badal Chandra Biswas,Director General (DG) of theDepartment of Agricultural Extension (DAE) said "We are expecting optimumBoro production this year against the production target of 2.22 crore tonnesset for FY24 as the result of overall yield was standard and there is noweakness".
Data released by the Bangladesh Bureau of Statistics (BBS) on the productionof dry season crop Boro showed that the country bagged 2.07 crore tonnes ofthe staple grain during the Boro season in FY23, up 3 percent from theprevious fiscal year.
Total rice production grew 2.5 percent year-on-year to 3.91 crore tonnes, thehighest on record, in FY23.