Prices of essentials now lower than last year’s

Due to the steps taken by the interim government, the prices of essential commodities, including egg, fish, broiler chicken, atta (flour), beef, powdered milk, sugar, tomato and green chilli have come down and those are now lower than last year’s prices.

Given the recent trend of price hikes, the interim government has taken several steps, including reduction of import duty, value-added tax (VAT) exemption, strengthening market monitoring activities, open market sale (OMS) and increasing the volume of sales under the state-run Trading Corporation of Bangladesh (TCB), reports BSS.

Traders said the steps of the government have increased the supply of essential commodities, including eggs, edible oil and sugar, in the market and this is helping in keeping the prices of daily necessities within the purchasing power of the common people.

Market experts welcomed the initiatives of the government and opined that the government should continue its monitoring activities to ensure more comfort to the people.

According to traders, the price of green chilli is now around Tk 250 per kilogram (kg) which was over Tk 400 in the same period of the last year.

According to the available data of TCB, the price of lentils was reduced by 8.16 per cent on Tuesday compared to the same day of the previous year.

The price of lentils decreased to Tk 115 a kilogram on Tuesday from Tk 120 a kilogram on the same day of the previous year.

The price of atta is now Tk 42 per kg which was Tk 45 last year while per kg beef price is now Tk 750 which was Tk 780.

The price of powder milk (Dano) is now Tk 820 per kg which was Tk 840 last year while powder milk (fresh) is now Tk 775 per kg which was Tk 790 last year.

Sugar price was also reduced to Tk 128 per kg on Tuesday which was Tk 135 on the same day of last year. 

Talking to BSS, Director General of the Department of Agricultural Marketing Md Masud Karim said despite different natural calamities, including the recent massive flood in 13 districts of the country, the prices of essentials are coming down gradually following the government steps.

“Vegetable production is now low due to off-season and recent floods damaged many vegetable farmlands in 13 districts. To ensure affordable prices for the lower and lower-middle-income people, the government has already taken several steps,” he added. 

Vegetable traders informed that the prices of vegetables at the retail level have reduced by Tk 50 to 60 per kg at different markets in the capital in this week compared to the last week.

Market analysts and economists mentioned that the VAT withdrawal and duty cuts have increased the supply of essentials in the market and ensured affordable prices of the essentials.

The 30 per cent regulatory duty on refined and unrefined sugar has been reduced to 15 per cent, they mentioned.

They said that the National Board of Revenue (NBR) has withdrawn the 15 per cent VAT levied on local production of crude and refined soybean oil, palm oil, and other edible oils.

Besides, the 5 per cent VAT levied on the import of edible oils have also been withdrawn, they added.

They mentioned that the NBR also cut import duty on eggs from 25 per cent to 5 per cent.

In addition, the import duty on the import of the oils has been reduced by 5 per cent to 10 per cent, they informed.

If the government takes more initiative, they opined, the country’s lower and lower-middle-income people will enjoy more comfort in their daily lives.

Due to the government steps, Abu Sufian, a Dhaka city dweller, said that he bought a dozen farm eggs from Khilgaon Taltola Market for Tk 150 which was Tk 180 a week ago.

He urged the government to strengthen its monitoring activities to ensure that the sales take place at the government-set prices.

At a recent meeting, Adviser to the Ministries of Finance and Commerce Dr Salehuddin Ahmed said the government is selling agricultural products at affordable prices under the OMS programme in different areas in the city.

Initially, the government started selling the products at 20 places in the capital through trucks.

The places are – Khadya (food) Bhaban, Manik Mia Avenue, Mirpur-10, Basabo, Basila, Rayer Bazar, Rajarbagh, Mugda-North, Mugda-South, Palashi Mor, Hazaribagh, Mohammadpur, Gabtali, Mohakhali Bus Stand, Begunbari, Uttarkhan, Dakshin Khan, Kamrangirchar, Rampura and Zigatola.

Under the programme, per kilogram of potato is being sold at Tk 30, per dozen of egg Tk 130, per kilogram of onion Tk 70 and green vegetables are being sold under different packages.

Salehuddin, however, said TCB, the Department of Agricultural Marketing and some other private agencies are selling daily commodities at fair prices. 

He informed that the government has further increased the volume of sales under TCB.