Volatile rice market

Get tough on syndicates

Published : 26 Nov 2022 07:24 PM

The prices of all varieties of rice have shot in the country’s wholesale and retail markets amid this peak time of Aman paddy harvesting.  In the retail markets, the staple is being sold at rates between Tk 48 to Tk 80 per kg in the last one week, according to media reports.

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.

The harvesting of Aman rice is going on in full swing across the country. Aman cultivators are now passing busy times harvesting the paddy in a festive mood. Earlier Food Minister Sadhan Chandra Majumder said the rice prices would decline gradually when the harvesting would begin in full swing. But what is happening in the market is just the opposite as the price of rice is increasing despite peak season and sufficient stock of the food grain.

As the prices of almost all daily 

essentials have increased 

abnormally, fresh hike in the

 staple food grain will fuel the 

common people’s financial hardships

It is very usual that the rice prices start dropping soon 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 every variety of rice has gone up. 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 government must form several special monitoring committees to control prices of rice in the market. Authorities concerned must take stern legal actions 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 be functioning to keep price of rice at tolerant level.

As the prices of almost all daily essentials including flour, edible oil, lentils, onion, garlic, soap and toothpaste have increased abnormally, fresh hike in the staple food grain will fuel the common people’s financial hardships.

The government has set a target to procure three lakh metric tonnes of Aman paddy and 5 metric tonnes of boiled rice in the current season. Therefore, illegal hoarders must be brought under strict surveillance in order to make the government’s Amana paddy and boiled rice procurement trouble-free.