Hidden truth behind rising prices

In Bangladesh, price hikes are often blamed on external factors, but the real culprit may lie closer to home: the syndicate system. This monopolistic structure controls the market, unfairly benefiting intermediaries while leaving farmers and consumers to suffer.

Syndicates create artificial shortages by hoarding essentials and waiting for prices to increase before releasing them back into the market. Once the prices rise, they sell at inflated rates, profiting from the scarcity they created. Worse yet, these groups collaborate with all sellers to ensure that everyone maintains the same high prices, leaving consumers with no choice but to pay more.

Farmers, forced to sell their goods at low prices to intermediaries, see little benefit from market changes. To dismantle this exploitative system, the government must purchase directly from farmers, enforce digitalised market systems, and crack down on syndicates through legal action.

A transparent, fair market benefits everyone-farmers, consumers, and the economy as a whole.

Abed Hossain Shadin, Student

North South University

abedshadin@gmail.com