DAY before yesterday, traders urged the government to control the transport fares, solve the Chattogram Port crisis and stop the depreciation of Taka to deter the price spiral of basic commodities before and during the month of Ramzan. The call isn’t a new one, but somehow spiralling prices of commodities – just a couple of weeks before and during Ramzan – in Bangladesh have become an old phenomenon. Traders also committed not to hike prices but the invisible force behind price hike is one issue that our successive governments have repeatedly failed to address effectively.
The point, however, a section of unscrupulous traders , importers and sellers make a hefty profit ahead of Ramzan by creating an artificial crisis of basic commodities, the demand of which swells during the Islamic holy month. Strategies or mechanisms to control price hike can be many but the reality is – the transport cost has almost doubled over the last three months due to a weight limit in carrying goods by trucks. Expectedly price hike in meat cannot be tackled since India stopped supplying cows to Bangladesh and Myanmar became the replacement source for cattle. But, the supply of cattle from Myanmar also stopped due to the Rohingya crisis in the Bordering areas like Teknaf, and despite being self-sufficient in meat production price of beef is abnormally high even at normal times.
However, the government should create a mechanism to bring coordination among all, from the importers to retailers. Traders should also be made aware of the religious aspects of business transactions, so that they refrain from hoarding and making windfall profits cashing in on Ramzan. Trading Corporation of Bangladesh (TCB) and other agencies can also import some food items and sell the same throughout the country at reasonable prices during the holy month.
Finally, it is the responsibility of the government, particularly the Commerce Ministry, to assess the import position, supply situation and the stock position of essential commodities in the country. If the demand and supply positions match, there should not be any crisis of essentials in the markets, much to the relief of the consumers. Law enforcers should be constantly monitoring the local kitchen markets. Whatever steps should be taken should begin from now.
