Business Desk:

Unlike previous years, when demand and prices for aromatic spices typically surged ahead of Eid al-Azha, this year’s market tells a different story at Moulvibazar, Dhaka’s largest wholesale spice hub.

Traders say prices of many spices have declined compared to last year, while overall sales remain slow.

A visit to Moulvibazar revealed that although spice trading is continuing ahead of the festival, customer turnout is noticeably lower than usual. According to traders, spice prices are lower this year than in the past two years, while market supply has increased significantly.

Md Sujon of Makkah-Madinah Traders said several varieties of cardamom are currently available in the market, depending on quality. Prices now range from Tk3,800 to Tk5,200 per kilogram.

“The cardamom selling for Tk5,200 this year was priced at Tk5,600 last year,” he said.

“That means prices have dropped by Tk500 to Tk700 per kilogram.”

He added that medium-grade “LMG cardamom” is currently selling for Tk4,100 per kilogram, around Tk200 lower than just a few weeks ago.

The same variety sold for Tk4,700 to Tk4,800 last year. Lower-grade “SMG cardamom” is now priced at Tk 3,800 per kilogram, down from Tk4,000 a month ago and Tk4,300 last year, he added.

Abdul Matin of Perfect Traders said Indian cumin is selling at Tk515 per kilogram, while Afghan cumin costs Tk670. Cloves are priced at Tk1,300, black pepper at Tk1,030, white pepper at Tk1,230, and nutmeg between Tk800 and Tk1,200 depending on quality.

Almonds and cashews are selling for Tk1,300 per kilogram, golden raisins for Tk800, and long raisins for Tk790. Fenugreek is priced at Tk132, coriander at Tk160, fennel at Tk175, and cinnamon at Tk480 per kilogram.

“Prices were slightly higher even a week ago,” Matin said. “Imports have increased as the war situation has eased, which has brought down spice prices.”

Sohel of Messrs Sohel & Brothers said business activity has fallen short of expectations ahead of Eid.

“In previous years, we were so busy during this period that we barely had time for lunch,” he said.

Md Faruk Ahmed, owner of Sun Enterprize, said the slowdown is not limited to the spice market.

“Not just spices—no market is doing well before Eid this year,” he said.

He also alleged that large quantities of spices are entering the country illegally from India every day, hurting legitimate importers and depriving the government of revenue.

“Smuggled goods avoid taxes, allowing sellers to offer lower prices,” he said. “Legal businesses are struggling to compete.”

Md Ripon, owner of Palash Traders, described the current situation as unprecedented.

“I have never seen such poor business before Eid,” he said. “Sales are extremely low this year.”

Meanwhile, Haji Nazrul Islam, president of the Begum Bazar-Moulvibazar Merchants Association, said prices of several spices have dropped sharply ahead of Eid-ul-Azha.

“Dried plums that previously sold for Tk1,550 per kilogram are now selling for Tk1,050,” he said. “Cardamom that once sold for Tk5,200 now has to be sold at Tk4,800, causing losses for traders.”

Cinnamon is currently being sold in two varieties in the market. Broken cinnamon imported from China is available in 25-kilogram sacks, while whole cinnamon imported from Vietnam is sold in 10-kilogram packages. Traders said whole cinnamon costs Tk60 to Tk80 more per kilogram than broken cinnamon.

Chinese cinnamon is now selling for Tk340 per kilogram, down from about Tk360 last year. Vietnamese whole cinnamon is priced at Tk420, compared with Tk480 a year ago.

The pepper market, however, presents a different picture. Both black and white pepper are available in the wholesale market, with nearly all imports currently coming from Vietnam.

Prices of black pepper have risen slightly compared to last year. It sold for Tk950 per kilogram last year but now costs Tk1,030.

White pepper prices, however, have declined. It is currently selling at Tk1,220 per kilogram, down from around Tk1,350 last year.