There are huge stocks of commodities in over 5,000 warehouses in the biggest wholesale kitchen markets, including Khatunganj, Chaktai and Asadgonj, in the port city of Chottogram, business leaders said. Business leaders actively involved in trading of essential commodities told Bangladesh Post that there are more than enough stocks of the items and their supply for at least next few months seems to remain uninterrupted.
Traders in Chottogram, where bulk of the nation’s essential commodities are stocked and supplied, assured that there is no need for rush buying of the essential items as the markets have stocks for the nations to last more than six months or more while there are huge supplies in the pipeline in the sea port waiting to be unloaded.
Despite such assurances on sufficient stocks of the essential items, the global worsening situation of the coronavirus is continuing to send people to rush buying of the household food items. Such practice has led some unscrupulous traders in the port city to enhance prices of the essentials by 5-20 percent without having any valid reasons.
The leaders of Chattogram business organizations say there is nothing to worry about the supply of essential food commodities as there is enough food reserves in the country and shipment of the shipment of essential items across the world is still as usual unaffected by the coronavirus scare.
The prices of consumer goods have shot up as consumers are buying surplus foods in apprehension on getting news of lock down for COVID-19 outbreak across the biggest wholesale markets in the country. There are more than 5,000 warehouses and business outlets in Khatunganj and adjoining Chaktai and Asadgonj where daily transaction is worth around TK 2500 core. However, since the news of coronavirus also being detected in Bangladesh, there seems to be panic transitions raising sudden unusual buying and selling of the goods by at least 30 percent, local businessmen said.
Beside these, in retail market like Reazuddin Bazar in Chattogram people are found crowding for grocery shopping, some with long list in hands. The business leaders asked the people not panic as there are huge stocks of food and the supply is still normal. There are no possibilities of food shortages in the country.
Mhabubul Alam, President of Chattogram Chamber of Commerce and Industry, told The Bangladesh Post, “We have sufficient quantities of essential commodities and so there is no reason to panic. Food supply from foreign countries is also on the way.” He said that the people are buying additional food and other items at supermarkets. Such buying spree is putting more pressure on the wholesale markets. Amid such rush, the Chattogram chamber asked traders not to sell extra goods to anyone.
According to the Food Department, the government had enough reserves of food grains, especially rice and wheat, at 17 lakh 62 thousand tonnes, which is about 1 lakh 85 thousand tonnes more than the same period last year. Besides, till March 12, around 51 lakh 79 thousand tonnes of rice and wheat have been imported by the government and private initiative. Of this, wheat is 51 lakh 75 thousand tonnes and rice 4 thousand tons.
The price of rice per bag at Khatunganj in Chittagong has increased by at least from TK 200-300. Not only rice, prices of all kinds of essential commodities including pulses, flour, edible oils, onions, garlic, cinnamon, cardamom, dried chillies and so on. In the retail market, the price of flour increased by TK 10. Prices of pulses have increased by TK 20-30. And the price of soybean oil has increased by at least TK 20 per litre. The price of onion, garlic and ginger has also increased by TK 30 and 40 per kg.
Jewel Mahajan, manager of Salaam Traders in Khatunganj said “Consumers usually buy more products before the Ramadan and Eid. However, because of coronavirus outbreak, people who needed two sacks of rice, are now buying at least twice as much. Traders are taking this opportunity artificially enhance the prices in both retail and wholesale markets.
In addition to having enough local reserves, imports of the essential items are as usual due to sufficient quantities of supplies. Traders and port officials say that despite the outbreak of coronavirus worldwide, it has little impact on food transaction in Bangladesh. Mohammad Omar Faruque, Secretary of Chattogram Port Authority said that the arrival of ships at the port have been reduced to a great extent.
Omar, nevertheless, said that the reduction in ships arriving in the port does not necessarily mean that the supply of essential items is also getting thinner. In the current coronavirus outbreak situation, all necessary measures have been taken to ensure uninterrupted loading and unloading goods in the port, he added.
After the outbreak of coronavirus in China, 24,57015 tons of goods were imported and exported through Chittagong port in January. In February this was 20,78,913 tons. Mhabubul Alam, Chattogram Chamber President and a top leading importer of food grain also said, “Anyone can import any goods from any country of the world. Bank transition and shipment in the ports are not hampered yet.