Kazi Zahidul Hasan :The Ministry of Commerce (MoC) has intensified market monitoring following sharp price rise of some commodities in the markets despite no visible interruption in the supply chain and price stability in the international market, officials said.They said, a profiteer syndicate is hoarding commodities to manipulate prices ahead of Eid-ul-Azha and it forced the Ministry to take such measure.”Prices of some essential commodities and onions at the wholesale and retail levels have increased significantly during the last few weeks despite their adequate stocks in the country. A section of traders is apparently raising the commodity prices for their petty interest ahead of Eid,” a senior commerce ministry official told The New Nation on Wednesday.He said, they have created a tight supply situation of the commodities and onions, and their prices have already increased sharply under the pretext of short supply.”The Ministry will take stern action against the hoarders and traders involved with price manipulation,” he warned. The official further said, the Ministry has asked the divisional commissioners and other officials concerned to carry out market monitoring drive so that none could hike prices of essential commodities artificially on the occasion of Eid-ul-Azha.”They have also been asked to launch anti-hoarding drives to prevent unusual rise of commodity prices in the divisional levels,” he added.The official said that, the government is constantly monitoring demand, supply and prices of commodities to foil the unscrupulous traders’ bid to price manipulation.He, however, claimed there is sufficient stock of onion and commodities in the country and therefore, their prices cannot go up without hoarding. Earlier, onion prices have rocketed to as much Tk 90 per kg in the city markets and elsewhere in the country due to supply crunch.Onion prices both in wholesale and retail markets have seen a sharp rise since last week of July. Sources alleged that a section of unscrupulous businessmen are hoarding onion, taking advantage of the seasonal shortage pushing up its prices both in wholesale and retail markets.After onion, the prices of edible oil continue to rise across the country owing to short supply.On Wednesday, loose soybean oil were being retailed for Tk 75-Tk80 per litre and palm super for Tk 73 to Tk 74 per litre in the city markets, according to Trading Corporation of Bangladesh (TCB).Loose soybean oil was sold at Tk 75 to Tk 78 per litre and palm super at Tk 63 to Tk 67 a month ago. Meanwhile, the prices of most vegetables are kept on rising in the market to due seasonal rains leading to scanty supplies of vegetables.
