Arresting food price hike

The prices of almost all food commodities are now increasing uncontrollably. The fresh price spike of essentials in August is forcing millions of poor even to reduce their consumption. After eggs, beef, chickens, fishes, onions and garlic, the price of vegetables has also shot up. Brinjal is now selling at Tk 100-120 a kilogram in Dhaka city's kitchen markets. Coarse wheat flour and vegetables like bitter gourd, long-yard bean, cucumber as well as some fruits like apple, orange (malta), coconut, etc have also seen 8.0-35 per cent hike. Onion prices shot up to Tk 70-90 a kg from Tk 50-70, according to the Consumers Association of Bangladesh. Cumin seed price has hit an all-time high at Tk 1400-1600 a kg. Broiler chicken and farm-grown fish prices have also shot up by Tk 20-50 a kg in a fresh spurt.

As a result, low-income people and the middle class have been finding it harder to afford some of the most basic food items. Even though prices have been rising, peoples' incomes have not increased. There is a big difference between the average per capita income of our people and their real income. Retailers shift the blame of hiked prices on wholesalers saying they purchase things at higher prices from the latter and so they sell at higher prices. When the supply of a product cannot match the demand, its price increases. But in our country there is a dishonest section of traders. They create a kind of artificial crisis of products and increase their prices at will.

In a free market economy, the government does not have the opportunity to control the market. As a result, low-income groups in our country are living in a very desperate situation. The authorities concerned should take necessary measures to ensure adequate supply of goods and create a consumer-friendly market system. The unscrupulous traders involved in creating artificial crisis should be brought to justice. The law enforcement agencies should also keep a close watch on the market.

Badsha Faysal,

Jurain, Dhaka,

badshafaysal1998@gmail.com