Unstable price and fluctuations in the market for essential commodities have plagued the people of Bangladesh for a long time. With the advent of Ramadan the alterations have yet again struck the market. Reports say that this causes a lot of problems among the middle class and the poor of the country. It has been found that for poor buyers, soaring food prices implies that a higher share of the family income is allocated for buying food. On the other hand, researchers say that the ultra-poor usually consume less than minimum calorie intake and any further reduction in food consumption will certainly deteriorate their physical ability and future potentiality.
For essential commodities like food there are a number of middlemen that fall in between the producing farmer and the markets in the capital. This means that the goods are switched from hand to hand multiple times before ending up on the vendors’ cart. However, by this time the price of anything rises to an amount which is unfeasible for the current rapidly developing economy of Bangladesh.
The government should have a strong
and strict market monitoring system to
ensure that the price of essential goods
remains stable and that no artificial crisis
may take place through human tampering
It is commendable that the government has taken note of this rising crisis in the country which poses a sever threat for the economy and living standard. Reports say that the government has taken necessary measures to ensure stable prices of essential commodities as it is commonly alleged that price goes up due to extortion on special occasions. Moreover, there is urging from the part of the government to the Deputy Commissioners and Upazila Nirbahi Officers to stop the price hike. It is to be mentioned that Trading Corporation of Bangladesh (TCB) has already started open market sale of essential commodities at fair prices.
The government should have a strong and strict market monitoring system to ensure that the price of essential goods remains stable and that no artificial crisis may take place through human tampering. Although the amount of fines issued in baffling, statistically there is scope for more improvement. Actions should be taken against immoral traders whose greed for money proves to be an issue for the poor.