‘Wholesalers are manipulating cumin market’
During a drive in different kitchen markets in the capital yesterday, the Directorate of National Consumer Rights Protection found that cumin was selling at a price almost two times higher than the price fixed after taxation
Cumin was selling at higher prices in different markets across the capital and wholesalers were responsible for manipulating the market, observed a team of from the Directorate of National Consumer Rights Protection (DNCRP) while monitoring the city's spice markets yesterday.
At Karwan Bazar wholesale market, cumin was selling at Tk475 a kilogram yesterday, which was Tk500-600 in retails markets. However, the price of the essential cooking ingredient has been set at Tk256 after taxation.
Retailers on the ground floor of the Kawran Bazar kitchen market were selling cumin at Tk500-550 after they bought it at Tk460 from Shohag General Store, a wholesaler on the first floor of the market. Shohag General Store had bought the item at Tk445 from a wholesaler in Moulvibazar.
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Wholesalers in Moulvibazar and Kawran Bazar are supposed to sell cumin at Tk300-310.
DNCRP Deputy Director at Dhaka office Monjur Mohammad Shahriar, who led the drive, told The Business Standard, "Wholesalers are manipulating the price. One of our teams met with the importers in Chattogram, and they assured they would sell cumin for less than Tk280 a kilogram."
After the drive, cumin price dropped from Tk475 to Tk350 at Kawran Bazar. The manipulating group is active from import to wholesale, he added.
Trading Corporation of Bangladesh data show cumin price hiked by 48 percent in a month as the current price is Tk500-600 which was Tk350-400 one month ago.
