Chickpeas, one of the most sought-after commodities during Ramadan in the country, have seen a fall in prices after months of steep increase.
Traders attribute the recent downward trend to an influx of imports over the past six months, bolstering supplies ahead of the fasting month.
Between December past year and February this year, the steady import volume has led to an easing of prices, despite remaining slightly higher than the previous year. Market insiders anticipate a further decline in the coming weeks due to oversupply.
Traders credit the government鈥檚 special import facilities for enabling a substantial volume of chickpea imports. Given the higher than usual supply, they rule out any significant price hikes during Ramadan.
Traders at Khatunganj in Chattogram, the country鈥檚 largest wholesale market for consumer goods, revealed that chickpea prices currently ranged between Tk 91 and Tk 96 per kilogramme on the wholesale market, down by Tk 5 from two weeks ago.
On the retail market, prices vary between Tk 105 and Tk 115 per kilogramme, depending on quality. Branded packaged chickpeas, such as BPM, are being sold for Tk 150 per kilogramme, while ACI Gold is being sold for Tk 160 per kilogramme.
A month ago, wholesale prices ranged between Tk 118 and Tk 130 per kilogramme, while during past year鈥檚 Ramadan, prices were between Tk 95 and Tk 110 per kilogramme.
According to data from the Plant Quarantine Station (Seaport) at the Chattogram port, Bangladesh typically requires about 87,000 to 90,000 tonnes of chickpeas during Ramadan. Between December and February 17, the country imported a staggering 2,11,608 tonnes, almost double the seasonal demand.
In contrast, during the same three-month period in 2024, only 1,17,676 tonnes of chickpeas were imported. For fiscal 2023-24, total chickpea imports reached 1,50,832 tonnes, while as of February 17 in the current financial year, imports have already hit 2,26,379 tonnes.
Syed Ahsan Ullah, a trader at Chattogram鈥檚 Reazuddin Bazar said, 鈥楢ustralia had a bumper chickpea harvest this year, leading to lower procurement costs, and the government also reduced duties, encouraging importers.鈥�
Solaiman Badsha, owner of Khatunganj-based Tayyebia Traders and an importer, said, 鈥楳arket stability depends largely on corporate firms such as Akij Group and Nabil Group, which have imported significant volumes. If they collaborate, prices will decrease further.鈥�
Mohammad Shah Alam, deputy director of the Plant Quarantine Station (Seaport) at Chattogram port, said, 鈥業mports in January and February alone have surpassed the entire previous year鈥檚 demand by 1.29 per cent. If market monitoring remains strict, there will be no scope for price hikes.鈥�
Raisul Islam, the newly elected port, customs, and VAT secretary of the Khatunganj Trade and Industry Association, said, 鈥楢t Khatunganj, the booking price for per sack of chickpeas three months ago was Tk 4,400, but now the booking price for per sack is Tk 3,200. So, no dishonest trader will be able to raise the price.鈥�
In response to a question about whether the price will be lower than the last year, Aminur Rahman, the newly elected general secretary of the Khatunganj Trade and Industry Association, said, 鈥楾he price will be lower than what it is now. But due to higher dollar exchange rates and increased transport costs, the price is likely to remain the same as the past year.鈥�