Panic buying raises commodity prices more

Panic buying raises commodity prices more

The prices of household essentials have gone up more today in the capital due to panic-buying amid the coronavirus fear.

The local onion was sold at Tk55 per kg on Thursday, it has been sold at Tk60 to Tk80 per kg today.

Each dozen of eggs has been sold for Tk120, about Tk25 more than yesterday.

The prices of different varieties of rice have increased by Tk2-3 per kilogram.

On Thursday, coarse rice was sold at Tk38-42, medium-quality rice at Tk52-55 and premium quality rice at Tk56-64 per kg.

Deputy Director of the Directorate of National Consumers' Right Protection, Monjur Md Shahriar said, "Many traders have raised the prices of the commodities by capitalising the issue of coronavirus. Buyers are also purchasing extra goods as they have become more panicked."

"We are monitoring the matter on holiday like today," he added.

Directorate of the National Consumers' Right Protection conducted a raid at the rice and onion warehouses in Kawran Bazar today and fined some traders for taking extra prices.

The authority sealed a wholesaler's shop at Kawran Bazar for selling the rice at a higher price than the price list.