Unprecedented but Real: Commodity Prices Drop During Ramadan 2025 in Bangladesh
The interim government's crackdown on syndicates and strategic measures shattered the long-standing myth of Ramadan price hikes, ensuring stable or lower commodity prices during Ramadan.
রমজান মাসে নিত্যপ্রয়োজনীয় দ্রব্যের দাম বাড়াটা একটা নিয়মে পরিণত হয়েছিল বাংলাদেশে। কোনোভাবেই জিনিসপত্রের দাম নিয়ন্ত্রণ করা যেত না। আগের সরকারগুলো বাজার সিন্ডিকেট ভাঙা সম্ভব নয় বলেও মন্তব্য করতেন। তবে সেই নিয়মকে ভেঙে রেকর্ড করলেন অন্তর্বর্তীকালীন সরকার, ২০২৫ সালে রমজান মাসে অতি প্রয়োজনীয় দ্রব্যাদির দাম নিয়ন্ত্রণ করে।
The price hike of essential commodities during Ramadan in Bangladesh has become a long-standing tradition. The prices of some of the most needed items, such as onions, potatoes, green chilies, and sugar, have typically become more expensive—sometimes even doubling or tripling for certain items. As a result, many middle-class and low-income families need to cut their grocery lists to adjust their budgets. However, for the first time in at least the last decade or more, the Bangladeshi people witnessed that the prices of most essential commodities either decreased or remained stable during Ramadan. This became possible due to the interim government’s efforts to control syndicates and take necessary measures.
According to recent data from the Trading Corporation of Bangladesh (TCB), staple items such as onions, sugar, and broiler chickens have seen significant price drops compared to Ramadan 2024, while a few items, such as soybean oil and beef, have seen slight price increases.
TCB data shows onions have seen the biggest drop, falling from 90 TK to 35 TK per kg. Broiler chicken prices have fallen from 210 TK to 180 TK per kg. Sugar has declined from 145 TK to 125 TK per kg. The prices of potatoes have dropped from 35 TK to 20 TK per kg.
Meanwhile, some commodities have experienced price increases. Chickpeas have risen from 100 TK to 105 TK per kg. Soybean oil has increased from 160 TK to 175 TK per liter. Beef has gone up from 730 TK to 750 TK per kg.
However, even for these items, prices have started to decline gradually as Ramadan progresses.
So, the question is: why are commodity prices lower this Ramadan?
Actually, after assuming power following the mass uprising on August 5 last year, the interim government has taken various steps to control commodity prices, playing a crucial role in keeping them stable during this Ramadan.
To ensure that essential commodities remain affordable during Ramadan, the National Board of Revenue (NBR) has removed VAT on several essential items, including mustard oil, flour, semolina, lentils, LPG, biscuits, salt, and spices.
To lower onion and potato prices, the government reduced import duties. The tariff on potatoes was cut from 33% to 15%, while the duty on onions was reduced from 10% to 5%, leading to a drop in market prices.
Refined soybean oil and refined palm oil have been exempted from all applicable value-added taxes at the local production and business levels.Around 600,000 to 700,000 metric tons of rice bran oil have been produced domestically, along with an equivalent amount of mustard oil.
To stabilize edible oil prices, the government reduced the import-stage VAT on refined soybean oil, crude soybean oil, and crude palm oil from 15% to 10%.
To stabilize egg prices, the government cut the customs duty on egg imports from 25% to 5%.
On October 7, the Ministry of Commerce formed a 10-member special task force at the district level to monitor and review market conditions and supply chains of essential commodities.
Between August and October 2024, the Directorate of National Consumer Rights Protection conducted raids in 3,353 markets across the country, penalizing 6,573 businesses and collecting fines totaling BDT 39,455,700.
One of the iconic faces of the July movement Hasnat Abdullah and many others praised the government initiatives through social media posts for controlling commodity prices during Ramadan.
Hasnat in his social media post stated that last year, an Awami League MP in Parliament said that the Ministry of Commerce did not have the power to break syndicates or control commodity prices. Yet, seven months later, interim government advisor Sheikh Bashir Uddin managed to regulate the syndicates, reduce prices, and bring relief to the public amid the high demand of Ramadan.
He also said that a certain group had been waiting in silence, hoping for soaring prices, shortages, and supply crises during Ramadan, just so they could criticize the interim government.
"But Bashir Uddin, the commerce advisor, is providing charismatic leadership by stabilizing prices and bringing relief to the public, effectively silencing the critics," said Hasnat, also chief organizer (Southern Region) of National Citizen Party (NCP).
Mohammad Shahjahan, a trader from Motijheel, told a local TV on March 6, "This year, the prices of onions, potatoes, tomatoes, green chilies, and eggs have remained fair and reasonable." He believes that strict government monitoring has contributed to price stability.
In addition, according to farmers, wholesalers, and traders, the current season has an abundant supply of vegetables such as eggplants, cucumbers, potatoes, and onions, which coincided with Ramadan. While these items typically see higher demand during this period, the steady supply has prevented a price surge.
Mustafizur Rahman, a wholesaler at Mahasthan Bazar in Bogura, told a local newspaper on March 10, "In previous years, cucumbers would disappear from the market before Ramadan, and the same happened with green chilies and eggplants. But this year, there has been no shortage. With a steady supply, no one has dared to hoard goods."
Traders and vendors believe that prices are unlikely to rise sharply in the remaining days of Ramadan. However, market stability will depend on supply and demand.
Ahsan Khaled, Joint General Secretary of Chaktai Industry and Business Association, told a local newspaper on March 14, "When supply meets demand, prices generally don’t increase. Right now, the market has a good supply of all essential goods. Prices have remained stable since the beginning of Ramadan, and they are expected to stay that way for the rest of the month.
About the Author:
Mohammed Raihan is a staff contributor to the Insighta. He writes on history, culture, language, economy and geopolitics, uncovering untold narratives that connect the past and present. He can be reached at mohammed_raihan@theinsighta.com
 | A guest post by
|