Govt meets spice traders todayto avert price hike before Eid
Tuesday, 1 November 2011
Talha Bin Habib
The government will hold a meeting today (Tuesday) with spice traders to avert sudden price hike of onion, garlic, ginger and turmeric ahead of the Eid-ul-Azha, officials said. The meeting will be held at the conference room of the Ministry of Commerce (MoC) at 11.00 am with Commerce Secretary Md Ghulam Hussain in the chair. Chairmen of Bangladesh Tariff Commission (BTC) and Trading Corporation of Bangladesh (TCB), director general of Directorate of National Consumers Rights Protection (DNCRP) and wholesalers of spices will attend the meeting. The MoC took the decision of holding the meeting amid consumers' speculations that the prices of onion, garlic, ginger and turmeric might abruptly shoot up ahead of the Eid festival, as there were records of such price spiral during the past years. Consumers at the city's kitchen markets said the gap between wholesale and retail prices of these commodities should be rational. They also alleged that a section of unscrupulous traders at the retail level manipulate prices of the commodities to make windfall profit. Traders at the city's Shyambazar wholesale market Monday told the FE that at present the stock of onion, garlic, ginger and turmeric is sufficient in the country, and possibility of their price hike is unlikely ahead of the Eid. "The stock of onion, garlic, ginger and turmeric is adequate following good harvest locally and smooth import. We are hopeful that the prices of these commodities will remain stable during the Eid-ul-Azha," a trader said. However, the wholesalers called upon the government to strengthen the ongoing market monitoring, so that unscrupulous traders cannot hike prices according to their whim. The retailers said they have to purchase commodities at high prices from the wholesalers. So they are compelled to sell those at rather exorbitant prices to ensure their minimum profit. DNCRP director general Md Abul Hossain Mian said his organisation would strengthen the ongoing market monitoring drive ahead of the Eid, so that the unscrupulous traders cannot exploit the consumers. "We are strengthening our market monitoring drive day by day. We realised Tk 0.4 million as fines from the crooked traders at different parts of the country Monday. So far, the amount of fines we have realised is nearly about Tk 30 million (3.0 crore)," he added. Meanwhile, the MoC Monday strongly urged the wholesalers of other essential commodities to strictly follow the government directives in selling those to the retailers. "The ministry has given the wholesalers directives to hang price-lists and maintain memo of commodities. We have agreed to follow the directives," Md Shamsul Alam, secretary of Shyambazar Wholesale Market Traders Association, told the FE after a meeting with the MoC high officials. In the wholesale market per kg of local variety of onion was sold between Tk 29 to Tk 32 Monday, while imported variety at Tk 27 to Tk 28. Garlic of local variety was sold at Tk 34 to Tk 38, while imported variety between Tk 40 and Tk 45 per kg. Per kg of local variety of ginger was sold between Tk 32 to Tk 35, while Indian variety at Tk 31 to Tk 32, and Chinese variety between Tk 55 to Tk 60. Local variety of turmeric was sold at Tk 170 and Tk 175, while imported variety at Tk 180 to Tk 185 per kg. However, at the retail level per kg of locally produced onion was sold between Tk 35 and Tk 38, while the imported category at Tk 34 to Tk 35. Garlic was sold between Tk 55 to Tk 60, and ginger at Tk 75 to Tk 80. Per kg of turmeric was sold at Tk 240 and Tk 260.
The government will hold a meeting today (Tuesday) with spice traders to avert sudden price hike of onion, garlic, ginger and turmeric ahead of the Eid-ul-Azha, officials said. The meeting will be held at the conference room of the Ministry of Commerce (MoC) at 11.00 am with Commerce Secretary Md Ghulam Hussain in the chair. Chairmen of Bangladesh Tariff Commission (BTC) and Trading Corporation of Bangladesh (TCB), director general of Directorate of National Consumers Rights Protection (DNCRP) and wholesalers of spices will attend the meeting. The MoC took the decision of holding the meeting amid consumers' speculations that the prices of onion, garlic, ginger and turmeric might abruptly shoot up ahead of the Eid festival, as there were records of such price spiral during the past years. Consumers at the city's kitchen markets said the gap between wholesale and retail prices of these commodities should be rational. They also alleged that a section of unscrupulous traders at the retail level manipulate prices of the commodities to make windfall profit. Traders at the city's Shyambazar wholesale market Monday told the FE that at present the stock of onion, garlic, ginger and turmeric is sufficient in the country, and possibility of their price hike is unlikely ahead of the Eid. "The stock of onion, garlic, ginger and turmeric is adequate following good harvest locally and smooth import. We are hopeful that the prices of these commodities will remain stable during the Eid-ul-Azha," a trader said. However, the wholesalers called upon the government to strengthen the ongoing market monitoring, so that unscrupulous traders cannot hike prices according to their whim. The retailers said they have to purchase commodities at high prices from the wholesalers. So they are compelled to sell those at rather exorbitant prices to ensure their minimum profit. DNCRP director general Md Abul Hossain Mian said his organisation would strengthen the ongoing market monitoring drive ahead of the Eid, so that the unscrupulous traders cannot exploit the consumers. "We are strengthening our market monitoring drive day by day. We realised Tk 0.4 million as fines from the crooked traders at different parts of the country Monday. So far, the amount of fines we have realised is nearly about Tk 30 million (3.0 crore)," he added. Meanwhile, the MoC Monday strongly urged the wholesalers of other essential commodities to strictly follow the government directives in selling those to the retailers. "The ministry has given the wholesalers directives to hang price-lists and maintain memo of commodities. We have agreed to follow the directives," Md Shamsul Alam, secretary of Shyambazar Wholesale Market Traders Association, told the FE after a meeting with the MoC high officials. In the wholesale market per kg of local variety of onion was sold between Tk 29 to Tk 32 Monday, while imported variety at Tk 27 to Tk 28. Garlic of local variety was sold at Tk 34 to Tk 38, while imported variety between Tk 40 and Tk 45 per kg. Per kg of local variety of ginger was sold between Tk 32 to Tk 35, while Indian variety at Tk 31 to Tk 32, and Chinese variety between Tk 55 to Tk 60. Local variety of turmeric was sold at Tk 170 and Tk 175, while imported variety at Tk 180 to Tk 185 per kg. However, at the retail level per kg of locally produced onion was sold between Tk 35 and Tk 38, while the imported category at Tk 34 to Tk 35. Garlic was sold between Tk 55 to Tk 60, and ginger at Tk 75 to Tk 80. Per kg of turmeric was sold at Tk 240 and Tk 260.