Coriander powder now sells at Tk 42 per 100 grams compared with Tk 17 a month ago. The speed of rise is both illogical and abnormal. The price of 100 grams of turmeric powder rose by Tk seven. Selling at Tk 35 only. On the other hand, the price of cayenne has remained unchanged and that of 50 grams of cumin-seed powder fell by Tk two only.
I asked a shop owner the reason thereof. He said that he had no knowledge, adding that trading in Bangladesh does not follow economic index.
The price of the medium quality of Nazirsail brand of rice now sells at Tk 55 to 56 per kilo and the best quality thereof at Tk 60 only. According to economic theory, real income of an individual decreases when the price of essential commodities and house rent increases. Economist Seligman describes income as inflow of satisfaction from economic goods. According to this theory, consumers cannot purchase things as per demand. If they want to maintain quantities, they will be required to look for inferior quality of commodities. The result is that they will not feel satisfaction..
When an office employee, government officer, school teacher and day labourer cannot with his income buy rice, edible oil, vegetables, chili, onion, and pulse to the least quantity in view of increased price, it should be taken that their real income has fallen. Thus the majority populations of the country are deprived of economic satisfaction.
Khurshida Haque
Dhaka
