Eid cooking to get costlier as spice prices go through the roof in Bangladesh

Published Jun 24, 2023

Tridge summary

The article highlights the significant increase in the prices of various spices in Bangladesh, leading up to Eid-ul-Azha, primarily due to escalating international prices and a dollar crisis. The most notable price hikes are seen in cumin, which has more than doubled, and other spices such as cinnamon, cloves, coriander, imported ginger, local ginger, garlic, and onions. The scarcity of dollars and challenges in exporting these products have led to a decrease in their supply, resulting in reduced demand in the local market. Despite efforts to increase domestic production, Bangladesh still relies heavily on imports to meet its spice demands.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

People will need to spend more on cooking Eid-ul-Azha dishes as prices of spices have gone through the roof in the country, mainly due to escalating prices in international markets and dollar crisis. According to businesses in Dhaka, the cumin market is experiencing the most volatile situation. The price has more than doubled, with cumin currently selling for Tk450, compared to its regular price of Tk200-300 in the wholesale market. The price has been rising to Tk1,000 at the retail level. The production of cumin has dropped in India, resulting in an increase in its prices in the exporting country. Consequently, there has been a decline in imports from India. In order to fulfill its own demand, India has resorted to importing cumin from Turkey, Afghanistan and Syria. As a result, the price of the product has increased on the global market. Traders have said that the scarcity of dollars, along with its increased value, as well as export-related challenges in various countries, have ...

Source: TBS