Essential prices rose 4.39% in October, fish costliest

In October, the prices of 15 types of daily essentials in the country rose by an average of 4.39 percent. Fish prices rose the most, increasing by an average of 11.72 percent in a single month. Prices of spices, onion, garlic, ginger, fuel oil, sugar and edible oil also rose. However, the prices of seven types of products remained unchanged, and two fell.

These findings came in a report on the market situation in September and October, published by Consumers Forum (CF) on Sunday (November 8). The report was prepared on the basis of market prices collected by the organisation through field visits.

By product, the prices of various spices, including clove, cardamom, cinnamon and cumin, rose by an average of 10.30 percent in October. Onion, garlic and ginger rose by 7.79 percent. Fuel oil rose by 6.02 percent, sugar by 4.93 percent, edible oil and dalda by 4.80 percent, flour by 3.25 percent and rice by 2.62 percent.

During the same period, egg prices rose by 1.42 percent, meat by 0.38 percent and tea by 0.14 percent. Fish prices rose the most, by an average of 11.72 percent.

On the other hand, the prices of seven types of products were stable in October. These include salt, dairy products, brush and toothpaste, chanachur and biscuits, 11 brands of commonly used medicines, and exercise books and pens. During this period, vegetable prices fell by an average of 3.12 percent, and gold and silver prices fell by 4.77 percent.

The report said vegetable prices fell as winter vegetables began arriving in the markets. According to information collected from markets in Jessore, Bogura and Rangpur, each cauliflower and cabbage is selling for 6 to 12 taka in Bogura and Rangpur, radish for 6 to 8 taka, and gourd for 8 to 10 taka. A bunch of bananas is available there for 5 to 8 taka.

But the same products are selling at much higher prices in Dhaka's markets. In the capital, each cauliflower and cabbage is selling for 50 taka, papaya and radish for 30 taka, and gourd for 60 taka. A bunch of raw bananas is selling for 40 to 50 taka.

The report noted that even though vegetable prices have fallen, producers are not benefiting. Citing farmers, it said that by selling vegetables at low prices in the markets, they cannot even recover their production costs. As a result, consumers in Dhaka are buying vegetables at comparatively high prices, while producers are not getting a fair price.

According to CF's calculations, the prices of daily essentials rose by an average of 3.13 percent last September, and by a further 4.39 percent in October. The organisation said the total price rise over the two months was 7.52 percent.

The organisation warned that if prices keep rising this way, the cost of living for ordinary people will increase further. In its view, raising salaries and allowances alone cannot ease the pressure on people's lives. House rent, shop rent, education, medical care and other daily expenses must also be kept within the means of middle- and lower-middle-class people.

CF called for effective steps to control the tendency towards excessive profit in the market. It advised that, if necessary, law enforcement should be used to keep the prices of daily essentials within people's purchasing power. It also stressed strengthening market monitoring to reduce the gap between the farm-gate production price of agricultural products and the price at the consumer level.

To prepare the report, CF collected information directly from Karwan Bazar, Rampura, Meradia, Bhuiyan Bazar in Aftabnagar, Meena Bazar and Shwapno supershop in the capital. Market conditions in Jessore, Bogura and Rangpur were also taken into account.