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Rice, beef, milk prices see further hike


Rice, beef, milk prices see further hike

Rice, beef and powdered milk witnessed a further hike in price last week intensifying woes of the commoners already battered between higher inflation and squeezed income.

Market insiders said rice witnessed a Tk 3.0-10 hike a kg as coarse rice sold at Tk 53-55, medium at Tk 60-63 and finer at Tk 75-90 in loose form on Thursday.

The price posted an escalation after remaining static for three weeks, according to traders.

Packet rice, marketed by leading companies, retailed at Tk 82-98 a kg.

Economists and value-chain experts cited low imports, hoarding by millers and traders, cartel of big companies and a plunge in production as key reasons behind this rice price hike.

The price of powdered milk increased by Tk 40-50 a kg further as sold at Tk 710-850 depending on brands.

Beef price increased to Tk 700-720 a kg last week from Tk 660-680 a kg earlier.

The end of Eid-ul-Azha stock at households and a surge in animal prices have caused the hike in beef prices, said Farhad Hossain, a Rayerbazar-based meat trader.

Even vegetable prices still remained high as sold at Tk 40-210 a kg depending on species.

Local bean sold at Tk 180-210 a kg and tomato at Tk 140-160.

Papaya was the cheapest veggie sold at Tk 40 a kg.

Ginger price increased by Tk 40-60 a kg as sold at Tk 180-230 amid a hike in import costs, said the traders.

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