Food security and vulnerability need long term preparation

EditorialProthom Alo illustration

Two contradictory news reports appeared on the same day in the newspaper. Fuel and food prices are reverting back to last year's prices. This means, prices of the items that kept climbing over the past one year are now on the fall. This was the global context.

And the news at home is that prices of daily commodities, especially consumer items are still on the rise. In consequence, the queue before the TCB shops and trucks keep growing longer and longer.

Prothom Alo published an on-the-spot report on OMS rice from Korail slum area on 12 December. The slum accommodates about 40,000 families consisting about 150,000 members, all of whom belong to the working class.  

Women line up behind the TCB truck every day for rice and flour, but all of them don’t get lucky.

Low-income people line up before TCB truck for OMS rice and flour at Korail slum area on Sunday, 11 December, 2022.
Dipu Malakar

Many of them have to return empty-handed. Besides, they cannot stand in the line anytime they want for all the members of these families are workers.

This picture doesn’t define the situation of Korail slum only. Many more are deprived of the opportunity to buy TCB rice and flour in other areas including Mirpur.

It is mysterious for rice prices not coming down in the open market during peak season. Even the policy makers of the government have admitted to there being some manipulation by a section of mill owners and traders. But no one could bell the cat.

Some of these mill owners also import rice. When the government reduces the duty to provide an opportunity of importing rice, they grab that up too. Meanwhile, the consumers become the ultimate sufferers.

The report World Food Programme (WFP) published on 22 November about food security and vulnerability in Bangladesh shows that 37 per cent people have suffered a fall in income.

The reason behind the long queues in front of TCB shops and trucks is the gap between people's income and expenditure.

The report World Food Programme (WFP) published on 22 November about food security and vulnerability in Bangladesh shows that 37 per cent people have suffered a fall in income.

The reasons behind this fall in income are that some of them have lost their jobs while some others are unable to find work.

Then again, due to price hike of commodities, they cannot even buy the required amount of food with their income.

Also, there have been reports about many middle-class families spending their savings. However, the rich don’t count in this case.

In between last October and November, the inflation rate in Bangladesh decreased a little.

The matter of concern here is that despite the price of fuel and food items plummeting down in the international market, the effects of that haven’t reached Bangladesh yet.

Despite the prices diving low in the global market, the International Monetary Fund (IMF) predicts that the prices of consumer items can rebound within the next few quarters. So there is no scope of relief.

The dollar price soaring high is one of the reasons for this. We are now tackling the situation by just reducing the import.

While this may provide momentary benefits, it could create problems in the long run, economists and traders have warned. If the import is less than the demand, the market price will obviously go up.

What’s the way out of this situation? Firstly, increase the supply of food items at a low cost for the poor people. Secondly, strengthen market surveillance activities.

Despite the prices diving low in the global market, the International Monetary Fund (IMF) predicts that the prices of consumer items can rebound within the next few quarters. So there is no scope of relief.

The Russia-Ukraine war, which had rattled the global markets, shows no signs of abating any time soon.

In this situation, long-term preparation to deal with a worse condition have to be taken alongside hoping for a better situation.