Rice price hike in harvest season

Gear up efforts to rein in price spiral

Published : 19 May 2022 09:43 PM

Rice prices have shot up during this peak time of Boro harvesting hurting the low income groups the most. Prices of rice increased 2 percent to 5 percent per kg in the last one week in the wholesale markets of Dhaka, Kushtia and Naogaon based on the rice variety. This upward trend has affected the retail market badly. Besides, taking the advantage retailers are selling the rice they had bought earlier, the prices there have increased by Tk 2 to 36 per kg. 

Out of the total amount of rice, Bangladesh produces almost 55 per cent rice in the Boro season alone. Usually rice prices start dropping with the arrival of newly harvested Boro paddy in the market, bringing comfort to the people. But this time the scenario is completely opposite as the price of every variety of rice has gone up.

Dishonest millers, hoarders, rice traders and rich farmers are now busy with stockpiling paddy to sell it after some days at higher prices. This organised unholy nexus believe the price of paddy will increase and their profit will also rise in the days to come. 

Illegal hoarders must be brought 

under strict surveillance 

in order to make the 

government’s Boro rice 

procurement trouble-free

The government must form several special monitoring committees to control prices of rice in the market. The monitoring committees will check price hike of food grains, assist low income groups, keep market price stable and ensure fair price of food grains to farmers. Authorities concerned must also take stern legal actions if anybody tries to make rice market unstable. Apart from these, the government will also have to open a control room and special monitoring team which will be functioning to keep price of rice at tolerant level.

As the prices of almost all daily essentials including flour, edible oil, lentils, onion, garlic, soap and toothpaste have increased abnormally, fresh hike in the staple food grain will fuel the common people’s financial hardships and make the rice market volatile as well.

Therefore, we hope the government will take stern action against the illegal paddy hoarders immediately. Besides, the illegal hoarders must be brought under strict surveillance in order to make the government’s Boro rice procurement trouble-free.