** Senegal move into WC last 16 ** BNP gets Suhrawardy Uddyan to hold Dhaka rally on 26 conditions ** HC orders ACC to complete probe in 3 months ** Bangladesh to get $30 million in climate adaptation fund ** Chinese protesters say police seeking them out ** Dhaka WASA MD takes Tk 57.99m as gross salary to13 yrs ** Chandpur teen stabbed to death after argument over WC match ** Saudi firm, BPDB to set up 1000MW solar power plant in BD ** In corruption-driven economy one can't punish big loan defaulters ** Late Casemiro strike sends Brazil into last 16 ** Rare protests spread across China ** Girls outshine boys total pass rate 87.44 per cent ** Farmers get arrested but big embezzlers remain untouched ** 7.1m Bangladeshis displaced by climate change in 2022: WHO ** Ghana beat South Korea by 3-2 goals ** Cabinet directs to verify news being shared about banking sector ** Govt now can raise fuel, power tariffs ** We are watching a drama : HC ** Thai AirAsia launches Dhaka-Bangkok inaugural flight ** New DAP may trouble housing sector ** 12 Pabna farmers get bail in loan default case ** Protests spread in China as anger mounts over 'zero-Covid' ** Strike paralyses waterways across Bangladesh ** Will the big loan defaulters remain untouched? ** A ball goes past the Belgium's goalkeeper Thibaut Courtois (right) as Morocco's Romain Saiss (centre) and Morocco's Achraf Hakimi block his view from an offside position during the World Cup group F soccer match between Belgium and Morocco at the Al Thumama Stadium in Doha of Qatar on Sunday. Agency photo **

Powdered milk prices rise – a fresh blow to consumers

24 November 2022

The prices of powdered milk have increased again by Tk 50 to Tk 110 per kilogramme  in the last one month because of rising prices in the international market, shortage of US dollars owing to depleting foreign currency reserves and complexities in opening letters of credit. The development comes at a time when people are already in a crisis due to price hikes of most essential commodities, food, fast-moving consumer goods and other items. In the last two weeks, the prices of flour and lentils have increased in the market. The price of rice has not come down, but the prices of chicken and eggs have fallen, although it is still much higher than usual. Data from the Trading Corporation of Bangladesh showed that the prices of powdered milk of different brands have risen by 25 per cent to 40 per cent in the local market in the last year.
The price has increased in the local market due to an abnormal price hike in the international market, a fall in the value of the taka against the dollar, an increase in transportation costs and difficulties in opening letters of credit. At the beginning of this year, the price of powdered milk per tonne in the international market was $3,400 to $4,000. Now, it has increased to about $6,000. Bangladesh is facing a shortage of US dollars owing to the depletion of its foreign currency reserves, caused by escalating import bills against a decrease in exports and inflow of remittance.
It is generally affected by, but not limited to increasing global milk price, logistics and operational costs, cost of goods and utility expenses, unpredictable exchange rates of United States dollar etc. The cost of production increased by 30 per cent due to the rising dollar while energy costs increased by 37 per cent due to an increase in diesel prices. Powdered milk is the source of nutrition for growing up children, elderly people and youths living in urban areas where fresh source of cow milk is not available. For children and lactating mothers, powdered milk is a fundamental demand. Government should subsidize this, otherwise nutrition status will be at risk.

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