Economy

Rice price spike in Khulna markets stings buyers

Rice prices have marked a sharp rise in the district due to a fall in import and the 'monopoly' of a syndicate of some rice mill owners.   Coarse rice was selling in between Tk 34-35 per kilogram, up from Tk 26-27 barely weeks back.   Besides, the prices of Miniket rice rose to Tk 48-49 from 40-41 while that BR-28 increased to Tk 38-39 from Tk 32-33. Balam rice was selling at Tk 40, up by Tk 5 from Tk 35 two weeks back.   According to some buyers and traders, the crisis has been created as mill owners were hoarding paddy as it has been the peak season.   Besides, wholesalers could not import rice from India, Myanmar and Thailand over the last one year as the government imposed a 28 percent import duty and one percent landing charge on rice import to protect the interest of local farmers.   The monopolistic attitude of rice mill owner...

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