Ramadan price spike eases: Onions, eggs lead drop in kitchen markets

• Onions see the biggest drop, reaching Tk70 per kg, down from Tk90+ at Ramadan's start
• Dozen eggs now selling for Tk120, lower than the government's Tk10.49 per egg
• Eggplant and cucumber prices drop from Tk80-120 to Tk40-70 and Tk50-60 per kg, respectively
• Broiler chicken price sees slight reduction, from Tk220-230 to Tk210-215 per kg, but still above the government's Tk175 limit
• Traders suggest market monitoring and price fixing by the government may have played a role
• Shop Owners' Association criticises government price fixing, calling for its suspension 

Prices of some essential food items are starting to decline in Dhaka's kitchen markets after a significant surge during the first week of Ramadan. 

However, not all products have reached the government-mandated prices yet.

A visit to several retail markets, including Karwan Bazar, Badda, Rampura, Farmgate, Malibagh, and Segunbagicha, revealed falling prices for onions, cucumbers, eggplants, eggs, and broiler chicken. Onions and eggs saw the most significant drops.

Local onions witnessed the steepest decline, reaching Tk70 per kg. Van shops and wholesale markets offer them even lower at Tk65. This comes after prices skyrocketed to Tk90 or more at Ramadan's start. The Department of Agricultural Marketing set the maximum retail price for onions at Tk65 per kg on 15 March.

Wholesalers attribute the initial price hike to disruptions in onion exports from India and a lack of imports from alternative sources. This put pressure on domestic Murikata onions, driving the price up to Tk120. 

However, with the arrival of the main onion harvest season, supply has increased, leading to the current price drop. Pabna, a major onion-producing region, is seeing prices drop from over Tk3,000 per maund a week ago to Tk1,500-1,700 currently.

"The seasonal onion harvest and increased market supply are bringing prices down," says Karwan Bazar wholesaler Al-Amin.

Eggplant, cucumber, egg, and broiler chicken prices typically rise during Ramadan due to higher demand. This year followed suit, with prices initially reaching Tk80-120 per kg for eggplant and cucumber. These have now fallen to Tk40-70 and Tk50-60, respectively. 

Lemon prices, which also saw a significant increase, have shown a slight decrease.

While some products are nearing government-fixed prices, others remain above them. Eggplant, for instance, is still priced higher than the government's Tk49.75 per kg. 

Egg prices, however, have dropped below the government-mandated Tk10.49 per egg, with a dozen currently selling for Tk120. Traders attribute this to lower demand during Ramadan as eggs cannot be easily stored.

Broiler chicken prices have also seen a slight decrease, from Tk220-230 to Tk210-215 per kg. However, this remains above the government's Tk175 limit.

Traders believe market monitoring, government price controls on 29 products, and the easing of initial Ramadan demand are responsible for the price decline. 

However, the Shop Owners' Association President Helal Uddin expressed dissatisfaction with the government's price-fixing, claiming inadequate verification and inconsistencies with the Department of Agricultural Marketing and TCB price lists.

He threatened business closures if the price controls were not suspended.