Spice prices cooler this Eid but premium items still sizzle

Spice prices are showing signs of moderation ahead of Eid-ul-Azha, offering some relief to consumers used to sharp seasonal surges.

A visit to Dhaka’s Karwan Bazar and Saat Tala Market on Thursday revealed that while prices for a few items have edged up, the spice market in general is cooler compared with previous years.

“Prices haven’t exactly dropped, but they’re definitely lower than last year,” said housewife Rasheda Begum, shopping for Eid essentials.

Traders attributed the relatively stable market to several factors: the ease of opening import letters of credit (LCs), "absence" of pricing syndicates, and an influx of spices from India through unofficial channels.

At Moulvibazar, Dhaka’s largest wholesale spice hub, vendor Afzal Hossain said: “The collapse of syndicates has brought prices down. Most spices are within reach for buyers, unlike past Eid seasons."

For instance, cumin, which sold for Tk 750–800 per kg last Eid, is now available at Tk 600, he said.

According to the Trading Corporation of Bangladesh (TCB), prices for nearly all key spices--cloves, cardamom, coriander powder, ginger, bay leaves, chilli, and turmeric--have either fallen or remained stable over the past week.

Only bay leaves and imported turmeric have seen price increases compared to last year.

Current retail spice prices:

• Onions: Local – Tk 50–60/kg; Indian – Tk 60–65/kg

• Ginger: Local – Tk 180–250/kg; Indian/Chinese – Tk 150–220/kg

• Garlic: Local – Tk 100–160/kg; Imported – Tk 150–230/kg

• Turmeric (dry): Tk 250–400/kg; Imported – Tk 280–420/kg

• Dry red chilli: Local – Tk 180–350/kg; Imported – Tk 280–450/kg

• Bay leaves: Tk 140–220/kg

• Coriander powder: Tk 190–280/kg

• Indian cumin: Tk 600–720/kg; Sweet cumin – Tk 220–250/kg

• Cloves: Tk 1,350–1,500/kg

• Fenugreek (methi): Tk 200–220/kg

• Black pepper: Tk 1,250/kg

• Panch foron: Tk 220/kg

• White sesame: Tk 250–280/kg

• Black cumin: Tk 320–380/kg

• Mustard seeds (white/red): Tk 120–150/kg

• Peanuts: Tk 180–250/kg

More premium items, however, remain expensive.

Large cardamom is priced at Tk 3,000–3,500 per kg, with some varieties reaching Tk 4,600 a kg. Cashews are selling for Tk 1,700–1,800 per kg, while almonds are around Tk 1,250 per kg. Raisins, dried plums, and mace are also priced on the higher side.

Faruk Hossain, a grocer in Saat Tala Market, confirmed the trend. “Prices are lower than last year, especially for essential spices,” he said. “Some niche items are still costly, but not unmanageable.”

Wholesale traders also reported a drop in prices from the previous year.

At Mohakhali, seller Al Amin noted a decrease of Tk 20-80 per kg for items like cumin, sweet cumin, cloves, and cinnamon.

Shopper Mokbul Hossain echoed the cautious optimism.

“There's still a day left. Prices could rise but at least it’s not as out of control as in previous years,” he remarked.