Editorial
Editorial

Chilli and onion pungent prices spiral with no stop

Pungent prices of chillies and onion are searing the pockets of those with limited incomes. With dried chilli prices being high, many simply used green chillies instead. But now one kg of green chillies is nearly 300 taka, leaving the consumers at a loss.

On Thursday, green chillies sold at 280 taka per kg in the capital's retail markets. Yet just a week ago the prices were between 160 and 200 taka. That means within just a week's difference, the prices soared up by 80 to 100 taka.

High prices of vegetables all over the country can't be justified by the floods in Sylhet. There are certain manipulators behind this. They are always on the lookout for a chance to swindle consumers out of their money

It is the same in the case of onions. From the beginning of the year the price of onions has been shooting up, but the government adopted no effective measures. A price hike by 10 to 20 taka in a matter of just a week is not normal. Onions are now selling for Tk 100 to 110 per kg.

In the past when the prices of onions spiralled, the market was kept stable by importing onions from India. But presently the price of onions in India is high too. The country initially stopped exporting the commodity on the excuse of low production. Later it allowed export, but hiked the export tariff.

In the meantime, the price of rice has increased too. Businessmen say that as the price of paddy went up during qurbani Eid and the rice mills were closed, each 50kg sack of rice has gone up by Tk 50 to 100 in price.

According to Prothom Alo reports, the prices of vegetables have shot up by Tk 20 to 50 per kg. In different markets, eggplant sold for Tk 100 to 140 per kg. Even 10 days ago, this vegetable was sold for Tk 60 to 80 per kg. Kakrol (spiny gourd) which sold for Tk 30 is now Tk 100 per kg. Korola (bitter gourd) which sold for Tk 30 to 50 per kg, now sells for Tk 120 to 140. Sting beans, tomato and carrots have gone up by Tk 20 to 40 per kg.

Traders blame the recent rains and floods for the increased prices. But the entire country didn't face floods. High prices of vegetables all over the country can't be justified by the floods in Sylhet. There are certain manipulators behind this. They are always on the lookout for a chance to swindle consumers out of their money.

Free market economy does not mean a completely free hand. The supervision of the government is warranted, but that is completely absent. During Eid the government's ministers and bureaucrats did make a show of action, and so did the directorate of consumer rights. But after Eid it was back to square one.

In the meantime, a vested quarter, that is, the syndicate, is pushing up the price of almost each and every commodity. Finance minister Abul Hasan Mahmud Ali had expressed hope in his budget speech that inflation would go down by the end of this year. But the manner in which the prices of essentials are spiraling, inflation will simply go up.

The government policymakers are well aware that the sufferings of the poor and the fixed income people exacerbate with the rise in prices of essentials. In such circumstances, alongside monitoring the market, they should increase the supply of rice, lentils and edible oil at low prices through TCB. This will assuage the sufferings of the ultra-poor to some extent.