The price of polao rice has increased abnormally in the country’s market. Despite adequate supply, the price has increased by about 70 taka per kg in the last three months. It has increased by about 40 taka in the last week alone. Currently, packaged polao rice by brand is being sold at a maximum of 230 taka per kg. The price of a 50 kg bag in the wholesale market has increased to 10,200 taka.
Along with the price increase, allegations of adulteration and fraud have also increased in the market for fragrant rice. Cheap rice mixed with cheap rice is being sold as sugar powder or black cumin rice. In some places, ordinary fragrant rice is being mixed with artificial fragrance and marketed under the packaging of famous brands. This is deceiving consumers.
Retailers and buyers allege that mill owners and big corporates have increased prices by creating an artificial crisis. They claim that prices have increased by Tk 4,000 to Tk 5,000 per sack in three months and by about Tk 1,000 in a week without any logical reason. In addition, the price of packaged rice has also been increased by Tk 40 per kg. They believe that although transportation costs have increased slightly due to the increase in the prices of fuel, gas and electricity, there is no justification for such a large price increase.
However, Aminul Islam Swapan, managing director of Nabil Group, one of the country’s largest food suppliers, denied the allegations of corporate manipulation. He said that demand for fragrant rice has increased due to reduced production, rising fuel costs, increased exports and weddings and social events. He also suggested temporarily stopping the export of polao rice to keep the market stable.
