Prices of spices soar; Cardamom hits Tk 3,600 per kg

The merchants have hiked the prices of spices around one month before Eid-ul-Azha, with prices of Cardamom raised by about Tk 1200 per kg.

The increase in the prices prompted Chattogram district administration to start bazaar monitoring to keep it stable.

As part of, four merchants were fined Tk 50,000 at city's Khatunganj spices bazaar in the first day of drive. Executive Magirate of the administration Md Umar Faruk led the drive. 

Faruk told Jago News that they found a few merchants seeling spices at higher prices than that mentioned in price list hanged in the shops.

As per the list, prices of a kg Cardamom is Tk 2,410 with profit but the same was being sold at above Tk 3,600 to the wholesalers, he said.

Cinnamon, black pepper, clove, and cumin were selling up to at Tk 400, 620, 900 and 400 respectively but prices of the same were shown in list Tk 240, 420, 680 and 275. 

In today's drive, M/s Narayan Bhandar faced fine Tk 20,000, M/s Chittagong Traders Tk 10,000, Allahr Dan Store Tk 10,000, and M/s Onil Deb Store Tk 10,000.

Executive Magistrate Fartuk said, "Some dishonest traders try to make pirces of spices unsual through creating artificial crisis ahead of Eid. This drive is part of regular drives to keep market stabe."

This kind of activities against the dishonest traders will continue, he added.