Rice prices on the rise in Raninagar

RANINAGAR, NAOGAON, Aug 5: The price of paddy has been rising steadily in various markets across Raninagar Upazila of Naogaon. 

Over the last 20 days, the upward trend in the paddy market has led to a decline in supply. On Tuesday, such a scene was witnessed at Trimohoni, the largest paddy market in the upazila.

Farmers coming to sell paddy said that while they did not get expected prices at the start of the season, they are now receiving good prices towards the end. However, they added that little paddy remains in their stores at this time.

Rice mill traders said that buying paddy at today's rates would mean incurring losses of approximately Tk 50 to Tk 100 per maund when selling the processed rice. Out of 127 husking mills in Raninagar, about 80 have already shut down. Millers said that with reduced supply and rising paddy prices, the rice market has slowed, and selling at current market rates is pushing them into losses.

According to field sources, during the Boro season, paddy was cultivated on about 19,500 hectares of land. Throughout harvesting and threshing, market prices remained higher than the government-declared fixed rates. At the start of the season, Boro paddy was sold at varying prices depending on the variety.

On Tuesday at Trimohoni market, Katari variety was selling at Tk 1,800 per maund, Swarnalata at Tk 1,370, and Jira at Tk 1,380 to Tk 1,400. Over the last 20 days, Katari paddy has seen an increase of Tk 100 to Tk 150.

Tasher Ali from Gangjoar Village, who came to sell paddy at the market, said he sold Swarnalata variety at Tk 1,480 per maund. He did not get good prices at the start of the season, but he is happy with the market rate.

Anishur Rahman, a trader buying paddy at Trimohoni market, said paddy prices have been rising all week and continued to climb on Wednesday, especially Katari variety. He attributed this to the end of the Boro season, meaning farmers have little stock left at home, leading to reduced supply and higher prices.

Shitanath Ghosh, a mill owner from Kujail Bazar in the upazila, said the current paddy market is rising daily, but rice prices are not keeping pace. Buying paddy at current rates and selling rice is resulting in losses for him, yet he is continuing the business for various reasons.

Anishur Rahman, Upazila Food Inspector, said the Boro season has ended, and transplanting of Aman paddy has begun in the fields. The government procurement centres are continuing their paddy and rice collection drives. Farmers were compelled to sell paddy at the start of the season due to various household expenses, leaving little stock at home now. With reduced supply, paddy prices have risen somewhat. He added that to check whether millers are involved in any manipulation, they will inspect the mills next week to verify stocks. If any irregularities are found, necessary legal action will be taken.