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Dhaka’s Beef Market Faces Volatility as Prices Rise Despite Previous Commitments

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In the capital, the cost of beef has once again surged by Tk50 to Tk100 per kilogram, a month after meat traders initially announced a reduction to Tk650 amidst skyrocketing prices. Despite the December 6 decision by meat traders to cap the price at Tk650, with hints of a potential increase post-general elections, the fixed price has not been fully implemented. Presently, beef is being retailed between Tk700 to Tk750 per kilogram in most kitchen markets and chain shops in Dhaka.

Traders attribute the sudden price hike to increased nationwide demand for beef during the elections, coupled with a surge in marriage ceremonies during December-January. Additionally, the cost of cattle has witnessed an upward trend. Some traders have responded to the financial strain by either reducing meat sales or temporarily closing their shops.

Meat trader Md Swapan from the Banasree area expressed concerns about the financial viability, citing the purchase cost of a 100-120 kg cow at Tk700 to Tk710 per kilogram, resulting in losses when the selling price is Tk650. Consequently, some traders have resorted to shutting down their businesses.

A recent survey of various locations in Dhaka revealed super shops, including Swapna and Meena Bazar, selling beef at Tk720 to Tk730 per kilogram, with prices reaching Tk750 in local shops. Traders assert their inability to adhere to the fixed price due to inadequate funds arising from the escalating wholesale price of cattle.

Golam Murtaza, President of the Bangladesh Meat Traders Association, announced plans for a meeting to discuss and declare a new price, as selling beef at the current rate is deemed unfeasible. The announcement follows internal divisions among meat traders after the initial decision to reduce prices. Despite a subsequent agreement to maintain the Tk650 price until January 7, most traders continued selling beef at Tk700 per kilogram from the outset, causing consumer demand to surge.

Consumers flooded beef shops upon the price reduction announcement, further boosting demand. While a subsequent meeting was planned to review cattle and beef prices, the cost has surged again prior to the deadline. At Karwan Bazar kitchen market, a mix of traders continued selling beef at Tk650, while others charged Tk750.

Golam Murtaza highlighted the losses faced by traders selling meat at fixed prices and emphasized that consumers were initially buying beef at Tk620-Tk630 per kilogram, which has now risen to Tk700 or more. Contrary to the rising prices, AHM Shafiquzzaman, the Director General of DNCRP, contemplates a further reduction to Tk500 to alleviate consumer burden.

In a recent visit to Khalil’s meat shop in Rampura on January 1, where beef was being sold at Tk590, Shafiquzzaman acknowledged the market pressure signaled by Khalil’s price reduction. He encouraged others to follow suit to stabilize the market without undue pressure.

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Met: Light to Moderate Rain with Gusty Winds Expected

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Light to moderate rain or thundershowers accompanied by temporary gusty winds are expected in several regions, with heavier downpours likely in northern, central, and northeastern divisions.

“Light to moderate rain or thundershowers accompanied by temporary gusty wind is likely to occur at many places over Rangpur, Mymensingh, and Sylhet divisions and at one or two places over Rajshahi, Dhaka, Khulna, Barishal, and Chattogram divisions with moderately heavy to heavy falls at places over Rangpur, Mymensingh, and Sylhet divisions,” stated a Met Office forecast.

The axis of the monsoon trough stretches from Punjab, Haryana, Uttar Pradesh, Bihar, and West Bengal to Assam, crossing northern Bangladesh. One associated trough extends to the North Bay.

The monsoon is currently fairly active over Bangladesh and moderate over the North Bay, according to the meteorological release valid for the next 24 hours starting from 9 am today.

On Saturday, the maximum temperature in the country was recorded at 36.0 degrees Celsius in Rajshahi, while the minimum temperature today was 24.8 degrees Celsius in Bandarban.

The highest rainfall in the last 24 hours up to 6 am today was recorded at 51 millimeters in Mongla.

Day and night temperatures may rise slightly across the country.

In the capital, the sun will set at 6:49 PM today and rise at 5:20 AM tomorrow.

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PM Sheikh Hasina to Address Media on China Visit Tomorrow

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Prime Minister Sheikh Hasina will hold a media briefing tomorrow (14 July) to discuss her recent visit to China, according to a statement from her press wing.

“The press conference will take place at the prime minister’s official residence, Gono Bhaban, at 4pm,” the release stated.

Prime Minister Sheikh Hasina embarked on an official visit to China on Monday (8 July) at the invitation of Chinese Premier Li Qiang and returned on Thursday (11 July).

During her stay in Beijing from 8-10 July, she met with Chinese President Xi Jinping and held bilateral talks with her Chinese counterpart Li Qiang at the Great Hall of the People.

Following the delegation-level discussions on Wednesday morning, Bangladesh and China signed and renewed 21 cooperation documents, primarily Memorandums of Understanding (MoUs), aimed at strengthening development and economic ties between the two nations.

Additionally, both countries announced seven key outcomes, including the completion of a joint feasibility study on a Bangladesh-China Free Trade Agreement (FTA).

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Met Forecasts Rain and Thunder Showers Across Multiple Divisions

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Light to moderate rain or thunder showers, accompanied by temporary gusty winds, are expected to occur at most locations across the Rangpur and Sylhet divisions. Many places in the Mymensingh and Chattogram divisions will also experience similar weather, while a few areas in the Rajshahi, Dhaka, Khulna, and Barishal divisions will see these conditions as well. Moderately heavy to heavy rainfall is anticipated in parts of Rangpur, Mymensingh, Chattogram, and Sylhet divisions, according to the latest forecast from the meteorological office.

The axis of the monsoon trough extends from Punjab, Haryana, Uttar Pradesh, Bihar, and West Bengal to Assam, crossing the northern part of Bangladesh. An associated trough also reaches up to the North Bay. This monsoon activity is fairly active over Bangladesh and moderate over the North Bay, as per the forecast valid for the next 24 hours starting from 9 AM today.

Daytime temperatures may drop slightly, while nighttime temperatures are expected to remain relatively unchanged across the country. On Tuesday, the highest temperature was recorded at 36.0 degrees Celsius in Sayedpur, and the lowest temperature today was 24.0 degrees Celsius in Rangamati.

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