Friday, February 28, 2025

Govt’s market intervention has failed : Market prices go uncontrolled

Despite the high sounding commitments made by the government, the TCB and the apex business body FBCCI, the prices of essential commodities continued to remain high during the month of Ramzan.
Meanwhile as the Holy Eid-ul-Fitr approaches the prices of spices, edible oil and other commodities recorded a higher price as surveyed in the city’s kitchen markets yesterday reflecting the ‘failure of mechanism’ earlier taken by the concerned authority to contain the volatility of market price.
On the other hand, the prices of different varieties of rice have remained high, showing no positive impact on rice prices despite selling of coarse rice through OMS and fair price card.
As most of the public and private service holders received their salaries along with Eid festival bonuses, that prompted the traders to increase commodities prices again, market experts opined.
The state owned Trading Corporation of Bangladesh (TCB) has failed to check the market prices during the ongoing Ramzan though it was supposed to do that, alleged by the customers. TCB started selling food items at fair price on August 8 last at different places of the country. Though the Corporation had a plan to sell 25 tonnes of sugar, 20,000 tonnes of soybean oil, 10,000 tonnes lentils, and 5,000 tonnes of palm oil during the Ramzan. But so far it had failed to sell those quantities of commodities.
We could not understand that even after the ongoing drive by the designated market monitoring teams of the concerned Ministry, the prices of vegetables and some essential spices have again shot up ahead of Eid-ul- Fitr, customers vented their frustrations.
“Just before the start of Ramzan, the mill gate rate of sugar was between Tk 34 and Tk 36 per kg and in the retail market it was between Tk 38 and Tk 40.
But, less than a one month, the sugar price has shot up abruptly as it was sold between Tk 50 and Tk 52 per kg yesterday,” said Mrs Rawshan, a private service holder.
But, so far, except realising fines from a handful of traders for food adulteration but the selling of commodities at high prices by the traders were going on unabated, according to market analysts.
Meanwhile, the government would take action against the syndicates who are involved with the sugar and soybean oil prices scam.
The intelligence agencies of the government have detected some businessmen involved with the ‘market price syndication’. They have submitted the lists to the Ministry of Commerce for taking necessary actions.
If the allegations are proven we would take stern action against those involved with the price syndication, a high official of the concerned official told The New Nation.
The prices of brinjal, green chilli, cucumber and tomato again reached a higher level as most of the traders were flouting the government decision to follow the ‘fixed prices chart’.
Though the government has fixed the prices of soybean oil, sugar, and lentil and red meat for the holy month of Ramzan, and in fact most traders in the retail level were violating the government’s instructions as they were realising high prices of commodities from the customers, aggravating the sufferings of the common people.
But, the traders in the retail markets denied the allegations of selling commodities at high prices rather claimed to have realising minimum profits from the customers.
Brinjal was sold between Tk 40 and Tk 50 per kg yesterday which was between Tk 25 and Tk 30 in the past few week. Similarly, cucumber was sold between Tk 35 and Tk 40 per kg yesterday which was between Tk 20 and Tk 25 in the previous week.
Green chilli was sold between Tk 100 and Tk 110 per kg yesterday which was between Tk 70 and Tk 75 in the previous weeks. Per kg of tomato was sold between Tk 90 and Tk 100 yesterday which was between Tk 75 and Tk 80 in the past few weeks.
The government has fixed soybean oil at Tk 80 per kg and sugar at Tk 47 per kg for Ramzan. But most traders were selling soybean at Tk 82 and sugar between Tk 50 and 52 per kg yesterday.
Similarly, beef and mutton were also fixed at Tk 250 and at Tk 350 per kg respectively. But, traders were selling one kg of beef between Tk 260 and Tk 270 and mutton between Tk 380 and Tk 400 yesterday.
Among the spices, the price of cardamon has increased almost four times higher compared with the previous year. Per kg of cardamon was sold between Tk 2,700 and Tk 2,750 yesterday which was sold at Tk 750 per kg in the previous year.
Clove was sold between Tk 600 and Tk 650 per kg yesterday which was between Tk 500 and Tk 520 per kg just before the start of the holy month of Ramzan. Per kg of cumin was sold between Tk 345 and Tk 360 yesterday which was between Tk 250 and Tk 280 just before Ramzan. Black pepper was sold between Tk 550 and Tk 600 per kg yesterday which was between Tk 450 and Tk 500 in the previous weeks.
Powdered turmeric was sold between Tk 320 and Tk 340 per kg yesterday which was between Tk 250 and Tk 260 in the past few weeks. Per kg of ginger was sold between Tk 100 and Tk 110 while garlic was sold between Tk 140 and Tk 150 per kg yesterday.
Najirshail variety of rice depending on quality was sold between Tk 44 and Tk 46 and paijam was sold between Tk 34 and Tk 36.Per kg green chilli was sold between Tk 100 and Tk 110, garlic between Tk 150 and Tk 160, ginger between Tk 100 and Tk 110 yesterday.
Per kg of ruhi fish was sold between Tk 180 and Tk 200 while a medium size ‘hilsha’ was sold between Tk 500 and Tk 600 yesterday.

 

Courtesy of The New Nation

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