Prime Minister Sheikh Hasina has ordered stern measures against unscrupulous rice mill owners and traders to tame the soaring prices of the staple. As per her (Sheikh Hasina) instructions, the ministries and departments concerned, and law enforcers have already taken all-out measures to keep the rice market stable.
But what is happening in the market is frustrating as the rice prices continue to rise, hard hitting the low and fixed income group people. Organised syndicates and a section of traders are still controlling the rice market amid the ongoing drives.
They (syndicates), by holding hostage the farmers across the country, are buying rice from them at low rates. Later, they sell rice at wholesale market at high rate to make a quick buck. The government has intelligence reports that big corporate groups are hoarding huge amount of rice in violation of the trade rules. Members of these vested interest groups are very powerful. Though the food minister is constantly warning that unscrupulous traders and syndicate members would not be spared if they try to destabilise the rice market by increasing the prices. Rice traders and mill owners promised to reduce prices just 12 days ago.
The food minister also warned of legal action if they do not lower rice prices within the next four days. But, 13 days have already elapsed, but there is no sign of any decline in the rice prices. Hoarding by traders as well as large business groups are mainly contributing to rice price hike.
Currently, rice was selling at rates between Tk 54 and Tk 80 per kg in the retail markets, according to media reports. We think the authorities concerned must investigate the reason behind the increase in the rice price despite this year’s bumper Aman and Boro production.
This upward trend of rice prices has created a suffocating condition for the low-income group people who are already plagued by price hikes of daily essentials. It is very unfortunate that when the prices of rice should not be supposed to rise, it prices continued showing an upward trend, hurting the low-income groups the most.
Rice traders and mill
owners promised to
reduce prices just 12 days ago
Usually, the rice prices start coming down with the arrival of newly harvested Aman paddy in the market, bringing comfort to the people. But this time, the scenario is completely opposite as the price of all varieties of rice has gone up. A section of millers and rice traders are now busy hoarding paddy to sell it after some days at higher prices. They believe that the paddy price will increase and their profit will be higher than it is expected.
This is how they (dishonest rice millers and traders) have made the rice market unstable by creating artificial crisis of the staple. The monitoring committees must check price hike of all the food grains and keep the market stable.
The authorities must take initiative to check the soaring rice prices in the market. The ministries concerned will also have to issue necessary directives to the deputy commissioners and concerned officials in this regard.
They will also have to continue drives in the wholesale markets to monitor prices of rice and submit reports. The authorities must take stern legal action 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 work to keep rice price at a tolerant level. We think the millers, hoarders and rice traders should be honest. They should not think about their own interest only. They also have to think about the interest of the consumers.