The month of Falgun has just begun and the intense summer heat has yet to arrive. Still, prices of electric fans have already started climbing in the market. Retailers say the price of each fan has increased by Tk 400 to Tk 500 or more. A visit to several electronics markets in the capital revealed this trend. Traders warn that prices could rise further once temperatures peak.

Retail sellers attribute the increase to higher global prices of brass and copper, which manufacturers cite as reasons for revising rates. Typically, fan prices rise by Tk 100 to Tk 150 at the start of summer each year, but this season the hike has been significantly higher. Manufacturers say the cost of components has gone up sharply — cable prices have increased by about 25 percent, while copper used in motors has risen by up to 15 percent.

Rakib Hasan, president of the Karwan Bazar Supermarket branch of the Bangladesh Electrical Association, said companies have raised prices by Tk 500 to Tk 700 per unit, citing international copper price hikes. He alleged that although such adjustments are usually made months after global price changes, this time companies acted within days. He also questioned whether there is adequate government oversight regarding such price increases.

Market survey findings
A visit to Karwan Bazar Supermarket, National Stadium Market, and Baitul Mukarram Market found price increases of Tk 400 to Tk 500 per fan, depending on the brand.

Retailers reported that prices of BRB Group fans have seen the sharpest rise. A 56-inch model that sold for Tk 3,200 last year is now priced at Tk 3,850. A fan from RFL Group that previously cost Tk 3,100 is now selling for around Tk 3,500.

At another shop, traders said Jamuna Electronics fans have gone up from Tk 3,000 to Tk 3,400. Meanwhile, Walton Group models that were priced at Tk 2,600 are now being sold for Tk 3,100. Shopkeepers fear prices could climb further once the summer heat intensifies.

Some sellers noted that BRB commands a large share of the fan market and has raised prices comparatively more. Other brands have made smaller adjustments, with increases ranging from Tk 100 to Tk 150.

Vendors say fans priced between Tk 1,800 and Tk 3,500 remain the most popular. A longtime trader at Stadium Market said locally manufactured fans now dominate sales, as imported Pakistani models cost more than Tk 6,000.

Reasons behind the hike
Manufacturers argue that rising costs of imported raw materials are largely responsible. They claim that while factory-level price adjustments were around Tk 200, retailers may have added additional margins.

Jamuna Electronics, which began producing fans in 1978 and claims roughly 30 percent market share, expects sales to grow by about 30 percent this season. Its marketing director said all key raw materials — including capacitors, bearings, blade sheets, and copper — must be imported, meaning import duties and currency fluctuations directly affect prices. He acknowledged that retail prices have increased somewhat more than factory-level adjustments.

Rasheduzzaman, chief operating officer of RFL Electrical Alliance, said aluminum product prices have risen by 20 to 25 percent, along with higher wire costs. He noted that fluctuations in global copper prices, similar to gold, have contributed to the increase of Tk 400 to Tk 500 per fan. However, he believes sales will not be significantly affected.

Market size
In the past, Bangladesh imported fans from India, Pakistan, and China. Now, 70 to 80 percent of ceiling fans sold domestically are locally produced. Major domestic brands include Jamuna, RFL, Walton, BRB, Konka, and Energypac.

There are no precise statistics on the total market size. However, leading companies estimate annual demand for ceiling fans at 5 to 6 million units. Assuming an average price of Tk 2,500, the ceiling fan market alone is worth between Tk 12.5 billion and Tk 15 billion. Industry insiders suggest the total market, including table, stand, wall, and rechargeable fans, exceeds Tk 20 billion, with annual growth of 10 to 15 percent.

One shopper in Karwan Bazar said he struggled to find a suitable fan under Tk 2,000 and ultimately purchased a non-branded model for Tk 2,100. Although unhappy with the higher price, he declined to comment publicly on the issue.