Crack down on rice hoarders

Carry out PM’s directives, bulldoze the syndicates

Published : 31 May 2022 08:37 PM | Updated : 31 May 2022 08:37 PM

Prime Minister Sheikh Hasina asked the authorities concerned to go for immediate actions against rice hoarders and its illegal trading. In a bid to keep the prices of rice stable, the premier also asked the ministries of food, commerce and agriculture for conducting a rice market survey to find as to why rice prices are soaring during this peak season.

The price of coarse and fine rice has increased by 5.38 per cent and 1.59 per cent in a week, according to Trading Corporation of Bangladesh. As the rice prices remain high despite peak season and sufficient stock of the grain, plight of the low-income groups has worsen further amid persisting financial uncertainty.

We hope stern actions would be 

taken against the rice hoarders

Directives were issued to conduct raids like it was done in case of illegal hoarding of edible oils. The drives will be conducted by mobile courts and Directorate of National Consumer Rights Protection. Instructions were also given to check whether big businesses are hoarding rice.

Some corporate houses are getting increasingly involved in paddy and rice trading. The government has obtained intelligence reports and suggestions about the skyrocketing prices of rice in the peak season. Breaching the memorandum of association (MoA), many companies or authorities have been engaged in rice trading. One company abroad is doing one specific business against a MoA while in Bangladesh many businesses are doing with same MoA.

Apart from corporate houses, 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.

The authorities must take immediate action to check unauthorised rice trading by any company or any sort of rice stockpiling following the prime minister’s directive. 

The authorities will have to check whether the organised syndicates are creating an artificial crisis. They should gear up efforts to identify the people who are behind illegal stockpiling of rice and the places where they hoarded those.

Against the backdrop of the impacts of the global economic situation when the government is trying hard to keep the prices of essential commodities at a minimum level through ensuring stabilisation of economy, some corporate houses, dishonest millers, hoarders and traders together are making the rice market volatile deliberately. Therefore, we hope that stern actions would be taken against those who are engaged in such heinous activities.