Bangladeshi spices prices skyrocketed, much higher than import prices

In the past few days, Bangladeshi garlic, lentils, cardamom and dried chilies have risen in price.


It is reported that the retail price of imported garlic on Tuesday was 180-200 Bangladeshi Taka per kilogram, while the local varieties were 130-150 Taka per kilogram, which increased by 20-30 Taka per kilogram in two days.


Haider Ali, a grocer in the Relbazar area in eastern Dhaka, said that in mid-April, spice prices fell, but now they have begun to rebound.


According to data from the Bangladesh Bureau of Statistics and the Ministry of Commerce, local garlic production was 510,000 tons in fiscal 2019, while domestic demand was 1.1 to 1.2 million tons. Bangladesh mainly imports 500,000-700,000 tons of garlic from China, Myanmar and India every year to meet demand.


Although the price of ginger dropped slightly earlier, it still remained at 290-320 taka per kg.


According to data from the Trading Corporation of Bangladesh, onion prices fell by 5 taka per kilogram and were sold at a price of 45-55 taka per kilogram on Tuesday.


At the same time, the retail price of cardamom reached 4,000 to 4,200 taka per kilogram, which increased by 200 to 250 taka per kilogram.


Bangladesh Trading Company recorded a 3.0% price increase of cardamom in a week. Local varieties of red peppers have risen to 280-300 taka per kg, and have increased by 40-50 taka in the past three days.


Humayun Kabir Bhuiyan, secretary of the Bangladesh Consumer Association, said traders are exploiting the loophole in the country's lack of regulation. When the retail price of garlic is 200 taka per kg, the maximum import cost is 85 taka per kg.


Buyan said that the price of imported ginger in March this year was 80-90 taka per kilogram, while the current transaction price is more than 300 taka per kilogram.