Prices up, sizes down: Shrinkflation hits Dhaka's iftar markets
Old Dhaka’s iftar markets gain momentum but traders estimate lower sales
Increased costs of ingredients, including flour, sugar, oil, and lentils, have forced vendors to adjust the pricing and sizes of common iftar items in Dhaka. Shrinking sizes and rising prices are causing concern among consumers.
Shopkeepers in prominent markets like Chawk Bazar and Karwan Bazar reported significant price increases compared to last year. This forces them to either raise the cost of iftar items or resort to reducing their sizes.
"Everything is expensive," said Md Amir Hossain, a local trader, as he prepared his shop for the pre-iftar rush on Tuesday. "We had to price our items higher, but I fear many will not be able to afford them. Sales may turn out low this year."
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Similar concerns were echoed by other vendors in Old Dhaka's Chawk Bazar iftar market.
Abdur Rahman, another trader, said, "We have reduced the size of chop (fried snacks) despite maintaining the price at Tk5 per piece. Even then, profitability remains uncertain."
Prices of other iftar items, such as "Shahi Paratha" increased from last year's Tk60 to Tk80 this year. Pakoras saw a similar jump to Tk15 from Tk10.
Price hikes are not limited to snacks. Dairy and sweet products have seen increases of Tk50-100 per kilogram.
Paneer is being sold at Tk1,000 per kg, a Tk100 jump from last year, while pistachio drinks are now Tk200-300 per litre, compared to Tk150-250 last year.
Prices of meat products have also risen significantly.
Fazlur Rahman, another vendor, highlighted the price increase of beef and mutton kebabs.
Certain types of beef and mutton kebabs saw a Tk200 hike as they are being sold at Tk1,000 and Tk1,400 respectively.
"We have opted to reduce the quantity of chicken dishes instead of raising prices. Hopefully, the chicken price will decrease, allowing us to offer larger portions again."
Consumers, especially low and mid-income families are facing the brunt of rising food costs in Dhaka's iftar markets.
Mohammad Kamal, a local, stated, "Expensive kebabs are out of reach for families like mine. Residents of Old Dhaka traditionally like a diverse iftar spread. But price increases make it difficult to offer variety."
However, one exception to the ever-increasing prices exists: Boro Baper Polay Khay, a cherished Old Dhaka dish, maintains its Tk800 per kg.
"We are keeping last year's price at the cost of reduced profits. Raising the price would deter buyers," explained Mohammad Sabbir, a seller.
Mohammad Tanveer, a customer, acknowledged the effort, "They must have a unique strategy to keep the price unchanged. It is a beloved traditional food, so we will buy it."
Elsewhere in Dhaka, sizes of iftar items are shrinking to maintain prices. Onion fritters, brinjal fritters, and small pakoras in Karwan Bazar and Eskaton cost Tk10 each, unchanged from last year, but are now slightly smaller.
Restaurant vendor Mohammad Jamil Uddin explained, "We could not raise prices lest we lose business, so portions are slightly reduced."
Price increases are observed in fried items like egg chop, potato chop, and haleem due to rising costs of oil, gas, and other ingredients. Jilapi, for instance, is now Tk200 per kg compared to Tk140 last year.
Farukh Hossain, a customer, summarised the situation, "Everything is more expensive. I buy the same things as last year, but prices are higher or portions are smaller."
