BD ahead in race of commodities price hike

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Syed Shemul Parvez :
In the world market, where the prices of daily commodities are decreasing day by day, the opposite is the case in Bangladesh. Bangladesh is a few steps ahead of the international market even in the race of price increase. The information that has emerged in the report of the government agency Tariff Commission itself.
According to the report, the price of pulse, sugar and cane has decreased by 11 to 14 percent in the last one year in the international market, but the prices of these products in Bangladesh did not decrease, rather increased by 13 to 29 percent. In addition to the Russia-Ukraine war, the prices of necessary products are rising all over the world due to various crises. Hopefully, the prices of some products have also come down. However, if the increase in the international market has an impact, if it decreases, it does not matter at all in the Bangladesh market. For example, the price of rice in the international market has increased by about 7 to 7 and a half percent in the last one year. But in Bangladesh it increased by 13 to 19 percent. The price of wheat has increased by almost 60 percent. The price of one kg of wheat has increased by only 7 percent in the world market, but it has increased by 67 percent in Bangladesh. Compared with the international market, the price of cement has also increased at a rate of more than 11.5 percent.
A businessman said that then sugar price was 50 to 60 taka per kg. Now it is around 88 to 90 taka per kg. A two kg flour packet was Tk 50 to Tk 52. Now the price of two kg of flour is 110 to 115 tk.
Bangladesh is not only ahead in the race of price increase, the terrible thing is that the prices of some products have decreased in the world market, but the prices of those products have not decreased in this country but have increased. In the last one year, the price of sugar in the world market has decreased by 10.78 percent. And in Bangladesh it did not decrease but increased by 14.84 percent. The price of pulses in the world has decreased by 13.78 percent. 29 percent has increased in this country. The price of rod has decreased by about 14 and a half percent in the international market, while it has increased by 15 to 16 percent in Bangladesh.
Another trader said, last year in this season we sold miniket rice 55 to 56 tk per kg. And this year that miniket has become 70 to 75 tk per kg.
Besides, 28-rice we sold it during the season at Tk 38 to Tk 40 per kg. That rice is now Tk 58 to 60 Tk per kg.
However victims customer claimed that those people were involved with market syndicates should be caught immediately, whatever there are in the society.
Consumer rights organization (CAB) says unscrupulous traders are exploiting the lack of oversight of government officials.
Vice President of Consumer Association of Bangladesh (CAB) SM Najer Hossain said, those who are in the regulatory board will take care of these issues. They have enough lack over proper monitoring or supervision, and when traders resort to trickery, they are silenced.
However, AHM Shafikuzzaman, Director General of the National Consumer Rights Protection, blamed the increase in the price of the dollar behind the price not falling. He said, as much as the international price has decreased, the dollar price has increased by what percentage.
The DG of the consumer department said that the organization is active in stopping illegal traders. He urged the businessmen to come forward to bring relief to the market.

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