Prices of commodities have not gone up much this year prior to Eid-ul-Azha like it usually does. The story, however, is different in the spice market where prices of spices, especially garam masala have sky-rocketed.
According to both consumers and sellers, since these spices are imported, no one makes an issue out of the price hike. Moreover, in order to avoid criticism for increasing prices right before Eid-ul-Azha , spice traders have allegedly hiked prices right after Eid-ul-Fitr.
They reportedly try to capitalize on the demand for garam masala during Eid-ul-Azha as it’s almost a staple when it comes to cooking meat. Since the government agencies and media is less alert right after Eid-ul-Fitr, they take the opportunity to increase the prices.
Usually garlic, ginger and onion traders take advantage of the lax in surveillance, this year they were unable to do so due to the sufficient import and production.
A spot visit to the wholesale kitchen markets in Chawkbazar and Kawranbazar as well as local retail shops revealed that during Eid-ul-Fitr, just a little more than two months ago, the jumbo cardamoms were sold for Tk 1850 per kilogram.
Traders have said that the aforementioned price isn’t likely to go up as the second holy festival draws nearer due to the fact that they have already hiked it Tk 900 per kilograms.
A garam masala importer at Chawkbazar said that the prices have gone up as the buying prices of these imported spices have been hiked.
“We didn’t increase prices due to the syndicate prior to Eid,” Abul Bashar told Bangla Tribune.
“We raised the prices when it increased in the market. The market isn’t in our hand,” he added.
Each kilogram of ginger increased to Tk 150-160 right after Eid-ul-Fitr and remain unchanged. The same goes for garlic which is being sold for Tk 165-170.
Local onions are being sold for Tk 36-38 which was Tk 45-48 last week and Indian onions are selling for Tk 28-30 which was Tk 32-34 last week. Traders said that the prices are likely to remain unchanged.
Responding to the price hike on garam masala Senior Secretary to the commerce ministry Mofizul Islam echoed the traders saying that the prices are largely dependent on the international market.
“However, the government will not be lenient if the prices haven’t gone up in the international market but anyone still hikes the prices through a syndicate,” he told Bangla Tribune.
He added that a ministry team is always monitoring the market and anyone found to guilty of irregularity will be brought to book.