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Measures taken to keep commodity prices stable

Published : 06 Mar 2021 09:33 PM | Updated : 07 Mar 2021 12:53 AM

The government, based on its previous experience, has taken several steps to keep market of daily essentials stable ahead of holy Ramadan.

Analyzing market situation and conducting field-level survey by different governmental ministries and originations, those steps are being taken to ensure supply of sufficient products as per the demand of Ramadan.  

According to commerce ministry information a joint committee of different ministries and departments is  working to fix the reasonable prices of essentials at different levels.

Trading Corporation of Bangladesh (TCB) is also increasing its marketing capacity to keep essentials within affordable price for the consumers. Under the steps, a team is also monitoring the import of consumer goods at private level.  

Commerce ministry’s additional secretary (Import and Internal Trade) AHM Safiquzzaman said, “We are considering 17 consumer goods are essential in the holy month of Ramadan. To keep those essentials supply chain normal we are working on it. Among those essentials edible oil, sugar, pulses, onions, lentils and dates are giving importance”.

Commerce Secretary Zafar Uddin said, “Based on our committee’s recommendations, the ministry has started taking several steps to keep Ramadan market stable”.

The government has earlier directed the government and private organistaions to increase the import volume of Ramadan essential commodities.

Meanwhile a different scenario has been observed in the capital’s different kitchen market ahead of Ramadan. Several essentials including edible oil, sugar, spices, and others price are skyrocketing. 

As the Covid-19 situation is improving, this time the traders are trying to do a better business in the coming  Ramadan. Traders said that although the prices of some products are same as the last year, prices of several products, including oil, sugar, cucumber, lemon and brinjal will affect the consumers.

This time, based on the sighting of the moon, Ramadan may start on April 14.

According to traders, usually the demand for dates per month is 5000 to 6000 tonnes but in Ramadan goes to 40000 to 60000 tonnes. Till the date, importers have already imported 40000 tonnes dates ahead of Ramadan. However, TCB daily price updates showed, the price of dates is 18 percent higher than the last year.

In addition to dates, the demand for edible oil, sugar, gram and all kinds of pulses increases during Ramadan. 

According to commerce ministry, per month demand for edible oil is around 1.6 lakh tonnes, while the demand for Ramadan is around 2.5 to 3 lakh tonnes. Per month sugar demand is 1.5 lakh tonnes while in Ramadan it goes to three lakh tonnes. Every month lentil demand is around 42000 tonnes but in Ramadan it’s demand is 80000 tonnes. Per year gram demand is 80000 tonnes which 80 percent is used in Ramadan. Similarly per year sugar demand is 25 lakh tonnes but in Ramadan it goes to five lakh tonnes.

In the kitchen markets, even gram price remains as per the last year, lentil price has already increased by Tk 4 to Tk 5 per kg this year. Similarly oil and sugar prices are also on rise.