The government’s various initiatives to contain rice prices did not work as a section of dishonest businessmen, their syndicate and vested quarters are not paying any heed to anything though the production and supply are quite adequate.
The situation does not change at all as the cartel turns a deaf ear to the warning of food minister Sadhan Chandra Majumder to tame rice price hikes within four days.
The food ministry continues drives in markets in the capital city of Dhaka and elsewhere to bring down the rice price, but to no avail. Rice is selling still at high prices everywhere.
People allege that the prices of rice go up due to some unscrupulous traders, resulting in the woes of consumers.
On Wednesday, Food Minister directed mill owners and traders to reduce prices within four days and warned of rice imports if they fail to curb prices that have soared recently by Tk 5-6 per kg countrywide. At the initiative of the Ministry of Food, after much deliberation at the miller level, rice price has been reduced to only Tk 50-100 per sack while the price swelled about Tk 300 per sack. However, at the consumer level, people are still buying at higher prices.
The monitoring team of the Ministry of Food did not fine anyone despite finding various irregularities after monitoring the abnormal rice market for the last few days.
After the national elections, the price of rice suddenly increased from Tk 250 to Tk 300 per bag. From last Tuesday, the food ministry started an operation against rice hoarders across the country. Due to the regular campaign, prices have come down slightly at the wholesale level, but it does not impact the retail market.
Retailers said that although the price has increased by Tk 300, it has decreased by Tk 50 to 100 only due to the drive. Retailers appealed for the drive to continue.
The Ministry of Food ordered the DC-SP of 64 districts to conduct a visible drive to keep the price of rice at a bearable level. This order was given in a virtual meeting led by the Food Minister last Thursday.
According to the instructions, the upazila and district administration will conduct operations in every upazila of the country. Deputy Commissioners (DCs) and Superintendents of Police (SPs) of all districts have been directed to conduct visible operations together to control the prices of paddy and rice.
Stockholders, mill owners, licensed traders and unlicensed traders breaking the rules, must not spared.
Consumers Association of Bangladesh president Ghulam Rahman blamed the profiteering and hoarding practices of a quarter of businesses for the soaring prices.
He said that the government’s initiatives are inadequate. He called on the authorities to conduct drives in the rice mills instead of the shops in Dhaka city.
Md Sayem, a trader of Dhaka Rice Agency, a wholesale trader of rice in Karwan Bazar, said, “After the election, the millers increased the prices by Tk 300 per bag. Now due to the drive across the country, they have reduced the price per bag by Tk 50 to 100. The impact of this reduction will not be seen in the retail market.”
He said, “At present, there is a sufficient supply of rice in the country’s market. There is no crisis. Despite this, the price of rice is higher.”
The ministry of food conducted monitoring drives in the rice markets in Uttara Badda and Shah Ali Market in Mipur. At the sight of the monitoring teams, several rice traders shutting their shops fled the market.
In the drive, it is seen that most of the traders do not have the receipt of the purchase of rice. Even if there is a receipt, it does not match with the price written in the price list.
Dr Joynal Abdin, deputy secretary of the Ministry of Food, said, “In the shops we have seen that rice has not yet arrived at the new price. We expect to get rice at a reduced price in two to three days.”
Shopkeepers show their purchase receipts. According to that price they are earning Tk 30-40 per sack. However, if the price is not reduced further within the next two days, penalty measures will be taken, he added.
He said “Our drive will continue. They closed the shop as they knew earlier about the drive. However, in the coming days, the operation will be carried out without warning.”
Deputy Secretary of the Ministry of Food Lutfar Rahman said, “We found chaos by supervising the rice market. Traders are also selling rice at higher prices bought earlier at a low price. Today (Friday) for the first time we have alerted traders. In future, legal action will be taken if irregularities are found.”
Consumers, however, said that market control is not possible until the source is raided.
Since the 12th parliamentary elections, the price of all varieties of rice has increased by up to Tk 6 per kg. The market stakeholders consider it unusual that the price has increased in spite of the arrival of the new paddy of the aman season.
Rice mills owners said that the prices of all varieties of rice have increased due to the increase in the price of paddy. However, traders said that it is unreasonable to increase the price of rice by Tk 5-6 per kg in the aman season.