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Rice import causes price-drop in Chittagong markets

Our Correspondent, ctg
Private sector imports of rice from Myanmar through the Chittagong Port in the last week helped lower rice prices, both at wholesale and retail markets, in Chittagong.
Wholesalers attributed the imports of rice and a healthy supply of locally produced rice to such a price-drop.
According to sources at the Chittagong Port, a total of 10 vessels carrying about 38,000 tonnes of Myanmar rice, at a price tag ranging between $290 and $300 per tonne, arrived at the Chittagong Port and the outer anchorage till Saturday.
Among the vessels, Pagan, Dong Young, Mongla, and Asrar A Mostafa berth at different jetties of the port since December 27, while discharge of rice from these vessels is going on, sources said.
The remaining vessels, including Rahmanur Rahim, Tydo Star, Titan-7, Tai Young Rosa, Chin Shwe Haw and AAB-E-Zamzam are now at the outer anchorage.
Another vessel, Mandalay, carrying about 9000 tonnes, is due to arrive on January 9, they said.
Such imports are making direct impacts upon the local markets, creating a downtrend in prices.
At the Khatunganj wholesale market, 'atap' rice of Myanmar was selling at Tk 800 per maund (37.32 Kg) yesterday, while it was Tk 900 last week.
At the Pahartali wholesale market, the same variety of rice was selling at Tk 790 yesterday, Tk810 on Saturday and Tk825 on
Friday, while it was selling at Tk875 a month ago.
President of Chaktai Paddy and Rice Traders Association Omar Azam said the falling trend in international markets caused such a fall.
"We imported rice from Myanmar at $290 to $300 per tonne, while the price was $350 per tonne four months back," Azam said.
Prices of locally produced rice also came down by Tk2 in the wholesale markets. Local 'beti' and 'atap' was sold at Tk24 against Tk26 in Khatunganj, while coarse rice was selling at Tk24.5 against Tk26 three days ago.
The price of rice also started falling over the last week in different retail outlets and the kitchen markets of the city.
The price of rice at Reajuddin Bazar and Karnaphuli Complex in Chittagong came down by Tk2 to Tk4 per kilogram.
Retailers were selling Myanmar atap rice at Tk24 yesterday, while it cost Tk28 on December 28. Price of 'pari atap' came down to Tk33 per kg from Tk36, 'miniket' declined to about Tk33 from about Tk 35, 'Dinajpuri atap' declined to about Tk38 from about Tk44.
Prices of boiled rice varieties also came down at the kitchen markets. One kilo of Najirshail was selling at Tk 38 against Tk 42 a week ago, Zirashail at Tk 39 from Tk 42, while prices of coarse rice came down by Tk 4 per kilogram and was selling at Tk 26 against Tk 30 last week.
Ram Prashad, a retailer at Reajuddin Bazar, hopes that prices would fall further in a few days.