Weak monitoring blamed for commodity price hike

Syndicate responsible for price hike must be held to account


Hike in prices of essential commodities is a topic which comes up every few months. As always, the main reason behind this blatant conspiracy is a syndicate of traders. They are responsible for the current rise in prices of essential commodities like rice, onions and potatoes. These traders are always in control of the supplies due to weak market monitoring systems.

According to a Bangladesh Agricultural Research Council (BARC) report, in absence of the government's punitive measures against this section of traders, they had been manipulating the commodity market time and again to make their fortunes at the cost of public suffering.

We know that if demand rises above supply, prices 

will rise as well. Therefore the government needs to ensure a stable 

supply of essential commodities in the market so that prices do not soar


We know that if demand rises above supply, prices will rise as well. Therefore the government needs to ensure a stable supply of essential commodities in the market so that prices do not soar.

When the price of these essential commodities goes up, raids are launched on store houses, retailers are fined and jailed. However the big guns behind the scenes always remain out of hands. These businessmen who run the syndicates always remain one step ahead of the government. Actions should be taken against them first. Some of them also have connections with persons at top levels in the government. Therefore, if the government really wants to destroy the syndicates, small inconsistent operations will not do the job. The actual bosses behind the scenes must be caught.

All in all, unscrupulous business syndicates must be brought under strict punishment so that none of the traders show courage to hike the price of essentials.