FBCCI monitoring detects large gap between wholesale and retail prices

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FBCCI president Annisul Huq Friday asked the administration to reduce unusual gap in prices of essentials between wholesale and kitchen markets in the city, report agencies.brHuq who visited different city markets Friday stressed the need for regular monitoring of prices at the kitchen markets by government agencies to keep the prices stable and within the buying capacity of the common people.brIt is not possible for the FBCCI or the media to monitor the prices of essentials regularly. Only government has such mechanism to carry on regular monitoring, he told reporters after visiting Gulshan-2 and Mohammadpur kitchen market.brHuq said some commodities are selling at prices 20-25 per cent higher at Kawranbazar than those at Shyambazar.brHe said the prices of essential commodities in retail markets have remained unchanged this week compared with the last week's prices.brThe retailers charge the prices 20-25 percent higher than those at the wholesale level. But the profit margin should be around 10 to 15 percent, Huq observed.brAsked about price of edible oils, the FBCCI president said the edible oil prices have declined by Tk 20 and is now selling at TK 85 to 87 per kg.brHe said the FBCCI would meet importers of edible oils by Sunday advising them to keep the food prices within the buying capacity of middle income group.brDuring the visit the FBCCI president sought vouchers from retailers. But the traders said that wholesalers of Kawran bazaar didn't give them any receipt.brAccording to the list given by the FBCCI commodities price monitoring taskforce on Friday, local ginger sold at Tk 40-45 a kg at Shyam Bazaar, and Tk 74-76 at Karwan Bazaar. brAt Shyam Bazaar a kg of aubergine sold for Tk 30-40 but at Karwan Bazar it was Tk 60-62. A kg of green chilli sold at Tk 50-60 at Shyam Bazaar but at Tk 60-70 at Karwan Bazaar. brThe taskforce also said traders at Karwan Bazaar were charging exorbitant prices for other essentials including onion, potato and cucumber. brThe prices go up further when it goes to retail market from wholesalers, it added. On visits to the two kitchen markets, the FBCCI team found that aubergine was selling at Tk 60-70, green chilli Tk 80, ginger Tk 80-90, local onion Tk 32-34 and sugar Tk 38. brHuq, the FBCCI chief, said, The market is comparatively stable. If the Karwan Bazaar traders give receipt to the retailers the price would come down further. brHe said they had asked leaders of the Bazaar committees not to let the wholesalers sell commodities to the retailers without receipt. brThe FBCCI president quoting the retail traders said, When they return after buying commodities from the wholesalers they have to pay toll. We will ask the government to stop toll collection to lower the prices.br