Unbridled Syndicates Unsettled Fasting Market

Unbridled Syndicates Unsettled Fasting Market

In recent days, a semblance of relief has emerged in the market; however, the vegetable market is experiencing renewed instability with prices soaring by Tk 10 to Tk 20 per kg within a week. This report delves into the current price fluctuations of vegetables, poultry, edible oil, and spices, shedding light on the challenges faced by both sellers and buyers.

Vegetable Market Dynamics

Various vegetables have witnessed a spike in prices, causing concern among consumers. Notable examples include brinjal, selling at 70-90 taka per kg, beans at 40-50 taka, and potatoes at 35 taka. Vendors attribute the increase to low supplies of bitter gourd and gourd, while buyers express frustration at the rising costs during the fasting season.

Buyers' Perspective

Solaiman, a buyer from Kazipara raw market, voices his discontent, highlighting that in many countries, prices decrease during fasting, but in Bangladesh, traders exploit the situation, leaving consumers with no choice but to pay exorbitant prices. He emphasizes the need for government intervention to curb such practices and dismantle existing syndicates in the market.

Poultry and Edible Oil Market

The report also reveals an increase in the price of broiler chicken by Tk 20-40 per kg within a week, with sellers demanding Rs 220-240 per kg. Golden chicken, domestic chicken, white layer, and red layer are also subject to price fluctuations. Additionally, edible oil prices are on the rise, with sellers demanding higher prices for old bottles of soybean oil, contributing to the overall economic strain on consumers.

Spice Market Trends

Prices of most spices, except cumin, have witnessed an upswing in anticipation of the fasting season. Cumin is selling at Tk 750 per kg, cardamom at Tk 2,200 to Tk 2,800, cinnamon at Tk 460-470, pepper at Tk 900, and cloves at Tk 1,750.

As the fasting season approaches, the market is witnessing fluctuating prices in essential commodities, impacting both sellers and buyers. The report emphasizes the need for government intervention to address the concerns raised by buyers and curb the exploitative practices in the market.