Green chilli prices still high despite imports

The country's green chilli market continues to remain volatile despite the gradual increase in imports from neighbouring India. 

Though the price fell slightly with imports, green chillies are still selling for Tk400-500 a kg in the various markets across the capital.

According to retail and wholesale traders, two days ago, the price of green chillies fell to Tk200-220 a kg from Tk700-800 amid strict monitoring and drives conducted by the Directorate of National Consumer Rights Protection. But on Wednesday, the price started to climb up again to Tk250-280 in the wholesale market. On Thursday, the product is selling at even higher prices, especially in the retail market.

The retail market is comparatively more volatile than the wholesale as traders are charging prices as they wish.

Ariful Islam, a wholesaler in Karwan Bazar, told The Business Standard, "The supply of local variety chillies in the market is low and the price of imported chillies is high. That is why the price is seeing a spike."

However, another wholesaler, on condition of anonymity, told TBS, "Importers are bringing in the product very slowly even though they have the scope to import more. That way, importers are trying to spread a rumour among traders that imports will be lower than demand. That is why the chilli market is becoming unstable again."

According to data from the Plant Protection Wing of the Department of Agricultural Extension, around 51,380 tonnes of green chillies have been allowed to be imported from 25 June to 5 pm on Thursday. But, only 528.59 tonnes were imported in that period.

Maqsud Khan, general secretary of the Bhomra C&F Agents Association, said, "Big traders in Dhaka and Chattogram are buying the imported green chillies in bulk, which is creating a supply shortage in some local markets. And as prices go up in a local market, it creates panic among people and prices go up."

Before Eid-ul-Adha, the price of green chillies suddenly surged all over the country to as high as Tk700-800 a kg in some places.

To stabilise the market, the Ministry of Agriculture allowed the import of chilli on 25 June. However, imports were halted when the land ports were closed for five days during the Eid holidays. Banking on this opportunity, some unscrupulous traders are trying to destabilise the market.

Meanwhile, the Directorate of National Consumer Rights Protection is monitoring the green chilli market. On Thursday, some 90 businesses across the country were fined Tk6,05,500 for overpricing raw chilli.