The country's apex trade body will monitor the prices of essentials both at retail and wholesale levels during the holy month of Ramadan with the help of the leaders of different kitchen markets in the city, Annisul Huq, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said Monday.
"We will monitor the city's kitchen markets this Ramadan. We want the prices to be monitored by the kitchen market committees instead of law enforcing agencies," Annisul added.
He was addressing a meeting held at the FBCCI conference room on the day with the city's wholesalers and retailers in Dhaka.
Annisul said the apex trade body will form a committee to monitor the market for the holy month. The prices of essentials items like edible oil, onion, milk, sugar generally spike during the month.
The apex trade body said it wants re-introduction of 'voucher system' introduced during last Ramadan at retail levels. Voucher system means the retailers must keep the purchase vouchers issued by the wholesalers to ensure that the retailers were not charging customers too much.
Annisul said FBCCI seeks cooperation from the retailers to ensure smooth supply and price stability as it is widely believed that the retailers make windfall profits especially during Ramadan.
He also said the apex trade body will help the traders in any ways they can to keep the prices of essentials down during the holy month.
He said: "The FBCCI has no authority to control the market, we want to motivate the retailers and wholesalers so that they make less profit in the holy month."
Abul Kasem Ahmed, first vice president of the FBCCI said, "We have to go deep to find out why the prices of essentials rise during the month of Ramadan. I think around 25 importers are mainly responsible for such abnormal prices in the local market."
FBCCI will also hold meetings with the country's leading importers of essential commodities and different trading companies who market their individual products.
City's retail markets leaders blamed the big importers for the galloping prices of essentials during the month of Ramadan.
They alleged that a number of companies who market their packed produces often do not print the retail prices.
"We will hold meetings with the importers and companies which are supplying their products to the local market within next seven days," Annisul added.
Representatives of the city's different kitchen as well wholesale markets attended the meeting.
There are around 26 big kitchen markets and around 300 small kitchen markets in the capital.
Sadek Hossain, president of Fakirapool Bazar Somity said that the FBCCI should hold meetings with all kitchen market leaders so that the prices of essentials do not rise further in the month of Ramadan.
Shariful Islam, general secretary of Bangladesh Daal Babosayee Somity (Bangladesh Pulse Merchant Association) said that the prices of pulses are expected to remain stable this year.
Md Jamal Mian of New Super Market alleged that bulk importers involved in re-packing are behind the spiraling prices of edible oil.
Abu Taher of New Super Market alleged that ACI, Fresh, Pran, Dada are the big companies that are responsible for the volatile price situation in the kitchen market.
As of Monday, the prices of chick peas varied between Tk 50 and Tk 51 at wholesale level which was around Tk 60 each kilogram last year.
The wholesale prices of palm oil was Tk 88.42 each litre and super palm at Tk 89.54 each litre.
The wholesale prices of sugar was Tk 30.55 each kilogram on the day, flour Tk 24.25 each kilogram and finer quality of imported flour at Tk 36.70 a kg.
