In Bangladesh, the price of potatoes has seen a significant increase, surpassing that of rice, a staple grain. In Dhaka's markets, potatoes are priced between 65 and 70 Taka (approximately 0.76 to 0.82 USD), with prices reaching 75 to 80 Taka (approximately 0.88 to 0.94 USD) in nearby areas. Conversely, high-quality rice varieties such as Paijam, Bri-28, and Bri-29 are available at 65 Taka (approximately 0.76 USD) per kg, with Miniket rice at 75 Taka (approximately 0.88 USD) per kg. This shift in pricing dynamics has led to a reevaluation of consumer preferences, with potatoes, once considered a humble alternative to rice, now being viewed as a luxury item.
According to data from the Trading Corporation Bangladesh (TCB), rice prices have increased by 7 to 16 percent compared to the previous year, despite government efforts to reduce import duties. Potato prices, on the other hand, have risen by 43 percent from last year's 45 to 50 Taka (approximately 0.53 to 0.59 USD), with current prices significantly higher despite attempts to regulate them, including government raids on cold storage facilities. The TCB reports a 10 Taka (approximately 0.12 USD) increase in potato prices within a week and a 15 Taka (approximately 0.18 USD) increase within a month.
Local market participants expressed concerns over the rising costs of both potatoes and rice. Jahedul Islam, a buyer, highlighted the impact on low-income individuals, while Abul Khair, a seller, criticized government measures to reduce rice prices as ineffective. Islam Sheikh, a local grocer, remarked on the shift in perception of potatoes from a staple to a luxury item. Retailers anticipate further price increases as the potato season ends and stocks in cold storage deplete.
The ban on polythene bags has also contributed to rising costs, with the need to purchase paper bags for packaging. The Directorate of National Consumer Rights Protection, under Mohammad Alim Akhtar Khan, is taking measures to monitor cold storage stocks and address price inflation, indicating ongoing efforts to stabilize the market.
Source: The Financial Express