Photo : Messenger
As the prices of essential items in the kitchen market across the country mark skyrocketing rise in recent days, the unbearable surge is driving the common people one by one to the brink of frustration. The relentless inflation of basic necessities is weighing heavily on the lower and middle classes.
In the past, several ministers have faced accusations at different times, yet, regrettably, these allegations have yielded little to no results. Instead, it appears that market manipulation syndicates have grown bolder and more audacious.
The prices of a wide array of essential items, spanning from vegetables to rice, sugar, eggs, onions, and fish, have soared out of reach for the common populace due to the vice-like grip of these syndicates.
The latest victim in this rising tide of prices is the potato, with its cost almost doubling in just one month. Here, too, the government seems to be grappling with helplessness in the face of these syndicates.
Potatoes were being sold at Tk 70 per kilogrammeme in the capital's markets on Monday, a stark contrast to the Tk 45–50 per kilogrammeme price just ten days ago.
However, on September 14, Commerce Minister Tipu Munshi, in conjunction with the Ministry of Agriculture, set the price for potatoes.
At that time, traders were explicitly instructed to sell potatoes at Tk 26–27 at the cold storage level and at Tk 35–36 at the retail level. Nonetheless, this directive crumbled almost immediately.
Minister Tipu Munshi also directed the Ministry of Commerce, the National Directorate of Consumer Rights Protection, the District Administration, and other related organisations to monitor whether potatoes were being sold in the market at the stipulated fixed price.
However, the Directorate of Consumer Affairs reported that, at no stage, potatoes were being sold at the prescribed fixed price. Given the situation, the Ministry of Commerce came to the conclusion that a syndicate is actively working to destabilise the potato market. Consequently, it has been decided to permit the import of potatoes to ensure an ample supply and to execute the government's directives.
Haidar Ali, Information and Public Relations Officer of the Ministry of Commerce, told The Daily Messenger that, in light of the current market conditions, the government has made the decision to import potatoes. This measure is aimed at bolstering potato supply in the market and ensuring price stability.
Interested importers have been encouraged to submit their applications to the Ministry of Commerce.
Recently, the Ministry of Commerce also established fixed prices for domestically produced onions and eggs. However, despite these efforts, the government struggled to effectively enforce these fixed prices. As a result, consumers have been purchasing these products at escalated prices for the past month and a half.
This situation has led to consumer grievances, with many accusing unscrupulous traders of brazen behaviour due to their perceived connections with the government.
Currently, onions are being sold at Tk 130–140 per kilogramme, while eggs are being sold at Tk 170 per dozen. This is in stark contrast to just 15 days ago, when onions were priced at Tk 60–80 per kilogramme and eggs at Tk 145–150 per dozen. It's worth noting that onions are consistently imported into the country in accordance with demand. Even last month, the government permitted egg imports.
However, prices have risen instead of witnessing the expected decline.
On Monday, October 30, local onions were being retailed at Tk 130–140 per kilogramme in the market, which marked a slight reduction of Tk 10 from Sunday's prices. Interestingly, just last Friday and Saturday, these same onions were available at Tk 100–110 per kilogram. Meanwhile, Indian-imported onions were sold at Tk 85–90 on Friday and Saturday, only to surge to Tk 105–110 the very next day. On Monday, these imported onions commanded a price of Tk 120–125.
Aslam Hossain, a merchant at Karwan Bazar, shared with The Daily Messenger, "We were compelled to purchase local onions at Tk 115–120 per kilogramme from wholesalers in response to news of a price increase in India on Sunday. Just last week, these onions were priced at Tk 90–95. Imported onions have become scarce in the wholesale market due to their escalating cost, and their prices have risen more sharply compared to local varieties."
He also noted that the port had remained closed for several days due to the Durga Puja holidays, contributing to the onset of an onion shortage. The market has since become highly unstable due to reports of increased import prices.
Both ordinary consumers and market traders have expressed their concerns that the prices of virtually all products have become unaffordable.
Traders have consistently hiked the prices of every item, seemingly impervious to the government's efforts to regulate pricing. There are allegations that these syndicates have conspired with government officials in power, rendering the ministers' threats of action ineffective.
In the past week, the prices of all types of rice, flour, and pulses have also witnessed increases. Medium and coarse rice prices have gone up by Tk 3–4 per kilogramme in the market. Local open flour has likewise seen a Tk 4 per kilogramme increase, now retailing at Tk –48. Two-kilogrammeme packs of flour are being sold for Tk 105–110, reflecting a Tk 5 per kilogrammeme increase. Coarse-grain lentils at the retail level have increased by Tk 5–10 per kilogramme, being sold for Tk 0–115. Small-grain lentils are now available at Tk 135–140 per kilogramme, up by Tk 5. Similarly, the prices of other pulses have surged by Tk 5 to Tk 10 per kilogramme.
Moreover, the prices of various vegetables have consistently risen over the past month. Despite a substantial increase in the supply of winter vegetables, there are currently no vegetables available for less than Tk 80 per kilogrammeme, with salad vegetables fetching prices exceeding Tk 100 per kilogrammeme.
The cost of fish and meat has also seen a hike compared to the previous month.
Golam Rahman, President of the Consumer Association of Bangladesh (CAB), offered his insights when questioned about the market situation. He remarked that the government appears to lack control over market prices. Despite their efforts, the powerful syndicates seem unyielding and unresponsive to attempts at regulation.
Rahman further emphasised, "Even if we set aside other products, the exorbitant prices of potatoes and eggs are particularly intolerable, especially given the absence of any shortage of these two products in the country. The crises being discussed appear to be largely contrived and artificially imposed. It seems that these syndicate traders are propagating baseless propaganda to further their self-serving interests."
Messenger/Disha
