Coronavirus has had an adverse effect in the markets of Bangladesh. Suddenly the price of goods has increased. On the other hand, the number of buyers has increased in the market. This pressure has increased as many people decided to buy rice, pulses, oil, salt and store them at home apprehending breakdown of supply chain and price-hike of the commodities.
The fear of coronavirus has caused a crisis in the markets. Many of the products including rice, pulses, onions, and so on are being stored by people. This circumstance has suddenly hit the market. Some unscrupulous businessmen took this opportunity and have increased the price of these products.
There is no reason for people to be worried.
Still, the market has come under pressure
and prices have gone up
The Ministry of Commerce and the Ministry of Food say that there are sufficient reserves of these products. Traders also admit there is no shortage of essential commodities. Calling against stockpiling of food, Prime Minister Sheikh Hasina has said that still 17 lakh metric tonnes of food are in reserve in the government warehouses.
There are three and a half million metric tons of wheat reserves. So there is no reason for people to be worried. Still, the market has come under pressure and prices have gone up. Surprisingly, as the prevalence of the novel coronavirus continues to increase, people are crowding to collect essential medicines in addition to their regular prescription.
Meanwhile, three monitoring teams of the Ministry of Commerce, along with five parties of the Consumer Rights Protection Directorate and the officers of the department, raided rice shops, chemical shops and chemical shops in sixteen markets of Dhaka.
Various national and international organisations say that it is also having an impact in Bangladesh. This is evident through the market instability and rumours are spreading along with it. Regular campaigns should be continued to reduce this trend. We hope that the government’s tough position will bring back stability in the market.