The supply of sugar, wheat, pulses and gram is dependent on imports and prices of these commodities are rising in the global markets. The rising dollar value also increases the import cost as the US dollar had increased from Rs 86 per dollar to Rs 105 per dollar before last Ramzan. Traders claimed that the cost of feed for livestock, poultry and fish saw a significant increase due to the dollar’s depreciating value and increase in production costs.
People concerned said apart from rising global prices, lack of management is the reason for the additional price hike. For example, the import duty on sugar was reduced by 5 per cent in February this year, yet prices in the local market did not fall. In contrast, the TCB said the price has increased by Tk 5 per kg in the last one month.
The National Directorate of Consumer Rights Protection (DNCRP) said in a report on March 19 that the production cost of broiler chicken varies from Rs 135 to Rs 160 depending on the size of the farm. Broiler chicken should be sold at a maximum of Rs 200 per kg. And its market value is very high.
Mo Hanif had come to Melbagh Kitchen Market to buy chicken. “The cost of items is very high and everyone in the house feels that special arrangements will not be possible because of the high prices,” he told Prothom Alo.
Increase in the price of fuel oil as well as electricity and gas tariffs also contributed to the increase in production costs. The Ministry of Energy has been repeatedly raising electricity and gas tariffs, with electricity rates increasing by 15 percent in three phases in January and February and gas prices increasing by 82 percent in January.
Speaking to Prothom Aloe, Shafiul Athar Tasleem, MD, TK Group, a company that imports essential goods, said that the global price is no longer an issue; Dollar prices, transportation costs, and electricity and gas tariffs have become a problem.
Letter of Credit (LC) is paid for at least six months after import; He said that no one knows what the dollar will be worth at that time and this uncertainty is a big problem for imports.