Stop the price spiral of essentials
The price of daily essentials has risen in recent times, much to the discomfort of not only the lower income but also the middle and lower middle income families. Kitchen market sources think the prices might rise due to decreased supply of vegetables at the end of winter. But, a 20 to 30 per cent price hike of commodities such as lentils, fish, meat and eggs is abnormal.
Consumers were unhappy over the increase in rice price ahead of 30 December elections. The price, however, reduced by Tk 4/5 per kg by government intervention. Although the government held five rice traders responsible for the price hike at that time, we do not know if any action was taken against them.
According to a Prothom Alo report, the price of fish, meat and eggs is also increasing alongside of vegetables. Broiler chicken is being sold at Tk 160-165 per kg while the price should be Tk 130-140 at this time of year. According to the Trading Corporation of Bangladesh (TCB), the price is 20 per cent higher compared to previous year. A variety of chicken referred to as ‘cock murgi’ in the local market is selling at Tk 280-290 per kg which is Tk 50 higher than usual price. The price of local chicken is Tk 450-460 now, more than the usual price of Tk 400. Beef sells at Tk 550 per kg, which is higher than usual. What is the reason behind this price hike?
Related traders said the prices of vegetable and fish usually rise at the beginning of summer and end of winter. But there is no logical reason for the increase of prices of other commodities. Pangas, the cheapest fish in the market, is being sold at Tk 160 per kg, which was Tk 120 even days ago. Poultry farm eggs are being sold at Tk 110 per dozen, duck eggs at Tk 150 and local eggs at Tk 180.
Vegetables such as ribbed gourd (chichinga), okra, bitter gourd (korola), string beans and ‘shajna’ is being sold at Tk 60-70 per kg. The price of all commodities except potatoes and onions is higher than usual. There is no report of any price hike in international market or any disturbance in the supply of commodities, yet the price has increased, much to the concern of the people. They are the worst sufferers of any such price hike.
The holy month of Ramadan is ahead. The prices of commodities usually shoot up during the month adding to people’s sufferings. Different organisations including the Consumers Association of Bangladesh (CAB) have already warned the government regarding this. Demands for lentils, sugar, oil and spices rise during Ramadan, so do imports. The price of imported goods should not rise if the price does not rise in the international market. But, some unscrupulous businessmen make the people suffer by raising the price of commodities ahead of Ramadan. The government should beef up market monitoring to rein in such ill motivated attempts of those businessmen. TCB can even ensure supply of goods at its own management to keep the market stable.