Fuel price hike to impact commodity market: Sellers fear
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Sunday
February 05, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SUNDAY, FEBRUARY 05, 2023
Fuel price hike to impact commodity market: Sellers fear

Markets

TBS Report
05 November, 2021, 11:00 pm
Last modified: 06 November, 2021, 09:48 am

Related News

  • Vegetables get cheaper on ample supply
  • Dohazari vegetable hub picks up steam as winter arrives
  • Commodity price hikes: Are int’l crises an opportunity for Bangladeshi businesses?
  • Tomato price rises to Tk250 per kg, cucumber Tk120!
  • Even in ‘Gorib er Bazar’, rice the latest casualty of price shock

Fuel price hike to impact commodity market: Sellers fear

The government should go back to the previous prices of fuel; otherwise, the situation of low income people would worsen, CAB president says

TBS Report
05 November, 2021, 11:00 pm
Last modified: 06 November, 2021, 09:48 am
Fuel price hike to impact commodity market: Sellers fear

The fuel price hike in the country may impact the commodity market by pushing up prices of vegetables and other kitchen items which can take effect from Saturday, according to several sellers.

They said prices of most vegetables and other kitchen items – including rice, chicken, eggs, onion, oil, lentils and sugar – may increase Saturday although the price of those items remained unchanged on Friday.

Lower income families fear they will suffer a lot if the price of daily essentials rise further amid the ongoing price hike of commodities.

Mahfuz Alam, proprietor of Fatema Rice Agency at Karwan Bazar, said, "The price of rice has not increased in the last one week. We fear that it may increase in the coming days due to the fuel price jump."       

The price of different brands of soybean oil was sold at Tk138 to 144 at Karwan Bazar wholesale market and it was sold at Tk153 to 160 at retailer level.

Oil distributor Md Mishu said, "The price of soybean oil might be increased. We are selling the current stock at the previous rate."

Consumer association of Bangladesh (CAB) also thinks that the commodity market may increase further for fuel price jump.

CAB President Ghulam Rahman said the government should go back to the previous prices of fuel. Otherwise, the situation of the low income group would be worsened.

On Friday, per kilogram of coarse rice sold at Tk48 to 50, medium and premium quality rice at Tk58-65 per kg at Karwan Bazar that was almost the same throughout the week. But coarse rice prices spiked by Tk2 per kg last week, according to the state-run Trading Corporation of Bangladesh (TCB).

Md Zakaria of Bosila, who works at a private firm, told The Business Standard, "Price of essentials -- including rice and oil—has increased two weeks ago. Besides, the price of LPG has also increased recently."

"Now, if the price of fuel, LPG cylinders goes up again, the suffering of those of us who depend on only a monthly salary will increase a lot. It is difficult for the lower middle class to cope with the extra cost of Tk2,000-3,000," he added.

Meanwhile, the local lentils are sold at Tk110-120 per kg at the local grocery shop on Friday which was Tk82-84 per kg at Karwan Bazar wholesale market.

Md Juel, manager of Ekota Trader, a wholesaler of lentils, told The Business Standard, "Still, there is no impact of the fuel price hike on the wholesale level."

Alauddin, a grocery owner in Dhaka's Shantinagar, told TBS as most of the companies usually stop the supply of their goods on Fridays. Grocers are selling oil, lentils, eggs and wheat at the previous rate.

On the day, Broiler chicken in Karwan Bazar sold at Tk160-170 per kg, layer chicken at Tk220-230, Sonali chicken at Tk300-320 per kg and chicken eggs Tk110-115 per dozen. However, the price of mutton was Tk900-950 per kg and beef Tk600 per kg.

"The price is almost the same as the last few days," said the trader.

In Kalshi Bazar and Karwan Bazar, potatoes sold at Tk25 per kg, onions at Tk50-60, chili at Tk90-110, cauliflower at Tk40-50 per piece and beans at Tk120 per kg.

Onion wholesaler Mostafa said as they had not paid any extra transport cost till Friday, so the onion price did not increase.

Shafikul Islam, a pick-up van puller at Karwan Bazar, said expect vegetables, 50% of trucks loaded with kitchen items did not enter the city from outside Dhaka due to strike.

Onion seller Jahangir Alam said they pay Tk15,000 as transport cost to buy onion from Rajshahi.   The transportation cost will increase to Tk18,000 due to fuel price hike, which will prompt onion price increase.

Top News

kitchen market

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Oil’s New Map: How India turns Russia crude into the west's fuel
    Oil’s New Map: How India turns Russia crude into the west's fuel
  • Photo: Collected
    Adani’s power to come to Bangladesh in first week of March: Nasrul Hamid
  • Service exporters to get foreign currency retention quota facility
    Service exporters to get foreign currency retention quota facility

MOST VIEWED

  • Representational image. Picture: Collected
    Gold price reduced by Tk1,200 per bhori
  • Higher LCs in Jan, no worries about Ramadan goods: Cenbank
    Higher LCs in Jan, no worries about Ramadan goods: Cenbank
  • Sugar turning bitter!
    Sugar turning bitter!
  • Cry for dollar for Ramadan imports
    Cry for dollar for Ramadan imports
  • DCs asked to ensure price of essentials is stable during Ramadan: Commerce minister
    DCs asked to ensure price of essentials is stable during Ramadan: Commerce minister
  • Representational image. Picture: Collected
    Spice market won't stabilise unless imports normalise: Consumer rights body

Related News

  • Vegetables get cheaper on ample supply
  • Dohazari vegetable hub picks up steam as winter arrives
  • Commodity price hikes: Are int’l crises an opportunity for Bangladeshi businesses?
  • Tomato price rises to Tk250 per kg, cucumber Tk120!
  • Even in ‘Gorib er Bazar’, rice the latest casualty of price shock

Features

Say it with Colours

Say it with Colours

8h | Mode
Photo: Courtesy

From 'Made in Bangladesh' to 'Designed in Bangladesh'

10h | Panorama
Google must adjust to a world where content is increasingly generated by AI. Photo: Bloomberg

Google will join the AI wars, pitting LaMDA against ChatGPT

7h | Panorama
The megaproject Rooppur Nuclear Power Plant has a debt of Tk90,474 crore. Photo: Courtesy

Projects funded with debt need to be selected prudently, and implemented timely

8h | Panorama

More Videos from TBS

ICB to withdraw Padma Bank Investment as return

ICB to withdraw Padma Bank Investment as return

59m | TBS Insight
Kiara Advani & Sidharth Malhotra's Wedding Update

Kiara Advani & Sidharth Malhotra's Wedding Update

59m | TBS Entertainment
Lack of coordination, policy biggest problems

Lack of coordination, policy biggest problems

4h | TBS Round Table
Industries panicked about continuing stresses on profitability

Industries panicked about continuing stresses on profitability

5h | TBS Round Table

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

3
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

4
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

5
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

6
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]