Hilsa prices have surged to unprecedented levels at the Chandpur station Machhghat wholesale market, with prices increasing by Tk 500-600 per kilogram.
Traders and buyers report that such prices have never been seen before in Chandpur's history.
Despite being in the peak hilsa season, fishermen in the Padma-Meghna rivers are struggling to catch the desired quantities, leading to a significant drop in supply at Machhghat, one of the country’s largest hilsa retail and wholesale markets.
Previously, the market received 500-700 maunds of hilsa daily, but that figure has plummeted to less than 100 maunds in recent days, pushing prices up by Tk 500-600 per kilogram.
Currently, one kilogram of hilsa is selling for Tk 2,400 to Tk 2,500 at Machhghat, up from Tk 1,700 to Tk 1,800 just a week ago.
Moreover, hilsa weighing over one kilogram is being priced between Tk 2,800 and Tk 3,000, leading to frustration among buyers.
Iqbal, a hilsa buyer, expressed his disbelief: “I’ve never seen such high prices for hilsa at Machhghat. I also buy to sell online, but at these rates, it’s impossible.”
Hilsa trader Kamal Hossain noted the supply shortage, stating, “The supply of hilsa in Machhghat has decreased significantly. There simply isn’t enough fish to meet demand, which is why prices are so high. This is an unprecedented situation. Typically, we would have many buyers at this time, but the prices are deterring them.”
Abdul Bari Manik Jamadar, President of the Chandpur Fish Traders Association, added, “The sale of all types of fish will be prohibited at the Machhghat starting October 13. While we expected increased activity now, the reduced hilsa supply has led to these record prices.”