The saying goes, "Wicked persons have no shortage of tricks in the world." Businesspeople often cite international market trends or natural disasters as justification for raising prices. However, their sole purpose is to keep the prices of essentials inflated by any means possible. They are also aware that once prices rise, it is difficult to bring them down again.
Recently, in light of rising prices, the government set price caps for chicken eggs, broiler chickens, and Sonali chickens. According to the new prices, the maximum retail price for broiler chicken should be Tk 180 per kilogram, while Sonali chicken should be sold at a maximum of Tk 270. However, a market survey by Prothom Alo revealed that these items are not available at the specified prices; consumers are forced to pay more.
On Thursday, brown and white farm eggs were sold at Tk 160 per dozen, while just a week earlier, the price for a dozen was Tk 155. Additionally, the price for broiler chicken ranged from Tk 185 to 190 per kilogram, and Sonali chicken was priced between Tk 270 and 280, which is a 10-taka increase from the previous week.
Meanwhile, consumers are also facing discomfort with rice prices. After an increase of Tk 4 to 6 per kilogram a few weeks ago, rice prices have not fallen. The prices of vegetables like green chilies, eggplants, and beans have also risen. Imported green chilies are selling for Tk 200 to 220 per kilogram, while eggplants are priced between Tk 80 to 110 and beans between Tk 100 to 120.
There is no good news in the fish market either. The prices of ruhi, shrimp, and pangas fish have increased by Tk 30 to 50 per kilogram. Reza Ahmed Khan, the deputy director of the Department of Agricultural Marketing, stated that slight variations in price may occur due to changes in supply and demand in the market. However, if production costs could be reduced, prices would naturally decrease, he added.
Reza Ahmed Khan's statement seems misleading. Farmers have already set prices based on production costs. If the supply of these goods has decreased over the past week, the reasons for that also need to be examined. Prices rise when transportation costs increase or when supply diminishes. It is the responsibility of the marketing department to inform the public about what is happening in this regard.
At the same time, there are concerns about the recent 0.8 per cent increase in global dairy prices this week. The largest impact on the price of non-fat dry milk comes from Fonterra's Farmgate Milk. This week, the price of this product has increased by 1.5 per cent compared to the previous week, reaching an average price of 3,448 dollars per tonne. When international prices rise, domestic prices are sure to follow.
Low-income individuals have long been distressed by the upward trend in market prices. If prices continue to rise, they find themselves helpless. To provide some relief to consumers, the government could increase the supply of essential goods at relatively lower prices. Alongside this, regular market monitoring is necessary to prevent any manipulation.
We observe with concern that there are no effective measures from the government to control the market. If the advisors, who are busy dealing with major issues, would pay a little attention to the relatively minor issue of market control, it would provide some relief to low-income individuals.