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Garlic lost its value in Corona

Garlic lost its value in Corona
File Photo: Khatunganj wholesale market in Chittagong 

Four months before the start of the corona, the price of Chinese garlic in the wholesale market had gone up to Rs 160 per kg. After that, the garlic market returned to normal, but the price remained above Tk. 100. But this time it is sinking. The price of this spicy product is falling every day in the wholesale market.

Importers say the main reason for the fall in garlic prices is the effect of corona. Corona has virtually closed restaurants and tourist areas around the world. So the use of garlic in making products like powder, pickles and in cooking has also decreased worldwide. Due to the decline in demand, the price of garlic, an essential ingredient in cooking, is also falling.

China is now exporting garlic at USD 560 per ton. As a result, the price per kg is Tk. 48. In this budget, the advance income tax of garlic has been reduced. It has also affected the price. In Khatunganj, Chittagong, known as the largest wholesale market for consumer goods in the country, garlic was sold at Tk. 65 per kg last Monday (Jun 22, 2020). Last week it was Tk. 75. Traders have also predicted that prices will fall further.

Meanwhile, although the wholesale price has come down, its immediate effect is not being seen in the retail market. At retail, Chinese garlic is still being sold at Tk. 90 to 110 per kg, which is almost double the wholesale price. According to the Trading Corporation of Bangladesh (TCB), the retail price of garlic has come down by about 38 percent in a month. Find more…

Source: Online/SZK

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