Poultry, beef prices surge by up to Tk30 per kg as Eid nears

Prices of chicken and beef have already started to increase in the capital's kitchen markets as Eid-ul-Fitr approaches.

Traders have hiked the prices by about Tk30 per kg, which is already putting a strain on consumer pockets ahead of the festival. The prices are likely to increase more as Eid nears.

The beef market also saw price surge after various steps to contain its price throughout the fasting month.

Around the world, food prices had fallen sharply from a record peak in March 2022 -  according to the latest Food and Agriculture Organization's (FAO) index but the situation in Bangladesh has been quite the opposite during the same time period and continues to be unstable.

Traders have stated that the surge in prices should not come as a surprise as people across the country purchase meat for Eid, increasing the demand. However, some are saying that despite preparations to meet this heightened demand, traders are increasing the prices for extra profit.

In Dhaka markets, broiler chickens are being sold for up to Tk250 per kilogram, a noticeable increase from Tk210-215 just a week ago. Similarly, the price of sonali chicken has risen to Tk350 per kilogram from Tk330 previously.

The prices of vegetables, onions, and fruits including local seasonal fruits like watermelon, pineapple, and imported fruits prices fell slightly due to decreased demand as holidaymakers are leaving the capital while prices of rice, edible oil, sugar, wheat, and flour were stable in the kitchen markets.

Sohel Hossain, a chicken seller in Badda, told TBS, "Since we have to buy these chickens at a high price before Eid, we have to sell it at a higher price also."

Shariful, another seller in Karwan Bazar, said that the demand for chicken increases massively before Eid but the supply is less. "Due to this, the price increases significantly. However, the suppliers have increased the price early this time, which seems a bit unreasonable."

On the issue, Bangladesh Poultry Association said that the chaos that has been going on over the price of feed and chicks for a long time has started to take effect. According to the association, the production cost of one kg of chicken is now Tk186.

Bangladesh Poultry Association President Suman Howladar said, "As the price of chicks and feed are increasing day-by-day, it is normal for the price of chicken to increase."

"Moreover, the control of the entire industry is gradually going to the corporate institutions. They are controlling the market the way they want to and the regulatory bodies are also supporting them," he added.

Meanwhile, the beef market hasn't been spared from the price surge either as prices started to rise after various steps to control the price during the fasting month.

Following discussions prompted by the Directorate of National Consumer Rights Protection, some traders had agreed to sell beef at Tk600-650 per kg in Old Dhaka, North Shahjahanpur, Malibagh and Mirpur for up to 20 days of Ramadan, but the respite was short-lived. Now, the common price for beef in most Dhaka shops has risen to Tk 780 from Tk 750 just a week ago.

According to traders, the price is increasing now due to the increase in the price of cattle before Eid.

Khalilur Rahman, a meat seller, recently told a meeting of the Directorate of National Consumer Rights Protection that the price of each cattle has increased by Tk15,000 to Tk20,000.