Though prices of coarse and fine rice have fallen by up to Tk3 per kg in wholesale markets, retail markets have yet to see a decrease in the prices.
The wholesale price of rice per kg is Tk60, while it is sold at Tk66-Tk67 in retail markets.
Retailers say rice bought at higher prices cannot be sold at lower prices. They, however, added that seven more days would be needed for retail prices to come down.
During a visit to different rice markets in Kawran Bazar and Mohammadpur areas in Dhaka on Saturday, this correspondent found that rice price has fallen by Tk100-150 per sack (50kg). Traders claimed they were incurring a loss of Tk1 against 50kg of rice due to the fall in wholesale prices.
Md Abu Osman and Md Bacchu Miah, two rice sellers in Kawran Bazar, said a sack containing 50kg rice is sold at Tk2,980 at the warehouse with Tk30 as transportation and miscellaneous costs included.
Meanwhile, the price in wholesale markets is Tk3,000, that is, a wholesaler sells rice at Tk60 per kg and a retailer sells it at Tk63-Tk65.
On the other hand, the price of coarse rice has fallen by Tk250 per sack in wholesale markets.
A few days back, the price of a sack of rice was Tk2,650. Now it has come down to Tk2,440, that is, coarse rice is sold at Tk49 per kg in wholesale markets. But retailers sell it at Tk52-Tk53.
Monoar Hossain, a wholesaler, said: “We sold [coarse] rice at Tk2,550 per sack just two days back. Now we are selling it at a far lower price, incurring a Tk2-3 loss against one kilogram.”
Retailer Md Shahidullah said: “Those who bought rice in bulk to make additional profits have to sell it at lower prices now. Despite a fall in wholesale prices, it will take some time for retail prices to decrease.”
Minicat rice is sold at Tk59-Tk61, BR-28 at Tk51-Tk53, Shawrnapari at Tk49.50, coarse rice at Tk45, Chinigura at Tk72-Tk82, and Nazirshal at Tk62.