Rice prices have dropped following a bumper production of boro and the subsequent ample supply of rice in the market.
Coarse rice was selling for Tk36-45 per kilogram in kitchen markets across the capital yesterday, which was Tk42-50 a month ago.
According to a market analysis by the state-run Trading Corporation of Bangladesh (TCB), the price of coarse rice has fallen by 10.87 percent in a month.
The current price of the finer variety Miniket rice is Tk54-56 a kilogram, which was sold for Tk60-65 just a month ago. The price has dropped by 6.25 percent in a span of 30 days, according to the TCB.
Besides, BRRI Atas rice was selling for Tk44-45 per kilogram, down from Tk50-52 earlier.
The country has witnessed a bumper yield of boro paddy this year. Paddy harvesting begun around a month ago and new rice has started arriving in the market in the last week.
At mill gates, the price of per sack – containing 50 kg – of rice has dropped by at least Tk200. As a result, rice prices have fallen in both retail and wholesale markets in the capital.
Abdur Razzak, a grocer at Wabda Road in Rampura, said the price has started to drop with the arrival of new rice in the market. The price of different variety of rice has fallen by Tk4-6.
Meanwhile, each sack of Miniket rice was selling for Tk2,100 on Thursday at the country's different rice supplying hubs – including Kushita, Noagaon and Dinajpur.
The price was Tk2,700 just two weeks ago. It means the price per sack has dropped by Tk600.
Per sack of Najirshail was selling for Tk2,450, which was Tk2,650 earlier. It means the price of this variety of rice has dropped by Tk200 per sack.
The BR-28 variety of rice was selling for Tk1,800 per sack, which was Tk2,100 just 10 days ago. Sharna rice was selling for Tk1,600 per sack, which was earlier over Tk2,000.
Zainul Abedin, general secretary of Kushita Auto Major and Husking Mill Owners' Association, said the rice price has started falling on the arrival of new paddy at the mills. Price will drop further as the paddy harvesting in the just halfway through now.
Wholesalers at Karwan Bazar Kitchen Market said new rice has started arriving around 10 days ago. The price of new rice is low and it has brought down the prices of all variety of rice.
Anwarul of Chandpur Rice Agency at Karwan Bazar kitchen market, told The Business Standard, "The supply of new rice will increase further and price will go down gradually. We are selling Atas rice at Tk52-53, down from Tk44-46 earlier."
Meanwhile, broiler has been selling at a higher price for the last one week. The current price of per kg broiler is Tk140-160, which was Tk125-130 around 10 days ago.