Unbridled spice market on the pretext of rising dollar prices

Eid-ul-Azha or Eid of Sacrifice is coming. Naturally, the demand for spices is higher at this time than at any other time of the year. Meanwhile, the spice market is on the upswing. Especially the price of cardamom is increasing by leaps and bounds. The price of cardamom has almost doubled in a span of one and a half to two months. Apart from this, the prices of cumin, cinnamon, cloves, coriander, dry chillies and turmeric among other spices have also increased compared to last year.

Traders say that the prices of all types of imported spices have increased in line with the increase in the price of spices in the international market and the increase in the value of the dollar. But the market cannot be said to be unstable.
On Saturday (May 19), the country's largest wholesale spice market, Moulvibazar in Old Dhaka and a few retail markets on the ground, it is known that the price of cardamom has almost doubled in the space of one and a half to two months. Two months ago, the price of cardamom was Tk 2,200 to Tk 2,400 per kg. Now it has increased to a maximum of 4 thousand 200 taka in retail. However, compared to last year, the price of cardamom has increased by more than 60 percent. Cumin prices were higher six months ago. At that time, the price of cumin per kg exceeded a thousand rupees. From there it is selling at 720 taka wholesale and 820 taka retail per kg. However, even a couple of years ago, the price of cumin was Tk 400 to Tk 500 per kg in Dhaka market. There is no way to return to that situation yet.

Meanwhile, the prices of products like turmeric and dry chili in the market are also higher than last year. Traders claim that turmeric and dry chillies are imported in significant quantities even though they are produced in the country.
These two spicy products are also produced to some extent in the country. So the market of both the products cannot be said to be completely import dependent.

In Moulvibazar, cumin is being sold at Tk 630 to Tk 720 per kg, which was Tk 580 to Tk 620 15 days ago. Cardamom is Tk 3,000 to Tk 3,500 per kg, which was Tk 2,600 to Tk 2,800 per kg before fasting. The price of 10 kg of cinnamon is 4 thousand 500 to 4 thousand 800 taka. Accordingly, 450 to 480 taka per kg. The price has remained the same for the past few months. Two months ago, the price of pepper was Tk 600 to Tk 650 per kg. Now it is selling at 760 to 820 taka per kg. Cloves are being sold at the rate of Tk 1,400 to Tk 1,500 reduced from Tk 1,700 to Tk 1,800 per kg. Its price has dropped.

Apart from this, dry chili is Tk 300 to Tk 380 per kg. A month ago that was less than 20 rupees per kg. Asto turmeric is being sold at Tk 260 to Tk 350 per kg, which was Tk 220 to Tk 260 per kg two months ago. Coriander is being sold at Tk 195 per kg reduced from Tk 240 per kg. Ginger is selling at Tk 210 to Tk 280 per kg, which was Tk 165 to Tk 180 a month ago. Garlic has increased from Tk 160 to Tk 182 per kg and is being sold at Tk 210 to Tk 230 per kg. Onion has increased from Tk 50 to Tk 55 per kg and is being sold at Tk 64 to Tk 70 per kg.

Meanwhile, in the retail market, cumin is Tk 800, cardamom Tk 3,200 to Tk 4,000, cinnamon Tk 500 to Tk 550, pepper Tk 900 to Tk 1,000, cloves Tk 1,500 to Tk 1,600, dry chili Tk 320 to Tk 400, turmeric Tk 300. 380 taka, coriander 240 taka, ginger 220 to 240 taka, garlic 230 to 250 taka and onion 65 to 70 taka per kg.
Among other spices, according to the TCB list, cinnamon is now priced at Tk 500 to Tk 580 per kg in the market. A year ago it was Rs 450 to a maximum of Rs 520. Prices have increased by 11 percent in a year. Currently, cloves are being sold from Tk 1,600 to Tk 1,800 per kg. Last year at this time it was 1 thousand 400 to 1 thousand 500 taka. As a result, the price of cloves increased by 17 percent within a year. A kg of coriander is now Tk 200 to Tk 240 in the market. A year ago it was 130 to 160 taka. Accordingly, the price of coriander has increased by 52 percent in one year. The price of bay leaves is now Tk 150 to Tk 200 per kg. Which is 25 percent more than last year. The price of cumin per kg is now 850 rupees in the market. 800 which was the highest at the same time last year.

As per TCB, imported dry chillies are selling at Tk 440 to Tk 500 per kg in the market. Last year at this time the price was 420 to 460 taka. As a result, the price of dry chili has increased by 7 percent in a year. And the price of imported turmeric last year was Tk 190 to Tk 130 per kg. This time it has increased from 280 to 350 taka. The price has increased by 50 percent within a year.