High egg, potato, onion prices pegged down

High egg, potato and onion prices have been pegged down while pricey edible oil and sugar retail rates cut by latest government orders as people pay through their nose amid market waywardness.
The Ministry of Commerce (MoC) issued Thursday the price-readjustment orders, with a forewarning against defiance.
Maximum retail price of egg has been fixed at Tk 12 a piece, potato Tk 36 a kilogram and onion at Tk 65 a kilo.
Commerce Minister Tipu Munshi announced strict action to be taken if traders don't sell the items at the fixed rates.
He made the announcement at a meeting on the prices of essential products, held at the ministry on the day, in the wake of quirky rises in prices.
"If any effect of fixed price of egg is not visible on the market, the government would permit import of the item to cool down the price," said the minister, in a repeat of the warning.
According to the MoC, four companies so far have sought permission to import eggs.
Meanwhile, the minister also ordered cuts in soybean oil (branded bottled) price by Tk 10 a litre to Tk 169. Loose soybean oil prices have been reduced to Tk 149 from Tk 159.
Palm-oil price has also been deducted to Tk 124 a litre at the maximum thanks to the declining trend in global price indices.
The price of brand sugar per packet has been revised down to Tk 135 a kg and loose to Tk 120 a kg.
As announced about enforcement of the pricing order, the commerce ministry, the Directorate of National Consumer Rights Protection (DNCRP), DCs and UNOs will monitor market at local levels.
The minister said the new MRPs are taking immediate effect with the MoC announcement made Thursday.
Mr Munshi also said a decision has been taken to export hilsa to India.
However, the MRPs of those products on the market remained much higher than the government-fixed rates on Thursday evening.
Farm brown eggs sold at Tk 156-160 a dozen (Tk 13-13.3), potatoes at Tk 48-55 a kg, imported onions at Tk 60-70 a kg, and local atTk 85-90 a kg, according to grocers.
Sugar was selling at Tk 135-145 a kg and brand soybean oil at Tk 180 a litre on the day while loose soybean oils were sold by vendors at Tk 170 a litre.
Consumers Association of Bangladesh (CAB) vice-president SM Nazer Hossain says now the agencies concerned should conduct strict market monitoring to implement the new price tags.
"Food inflation reached its peak of 12.54 per cent in August year on year that indicates how the rocketing trend of the essentials' prices intensified the hardship of the consumers," says the watchdog executive.
He points out that both the DNCRP, the Competition Commission found alleged involvement of some leading companies in market manipulation of eggs and many other essentials in 2022 and 2023.
"The agencies should ensure exemplary punishment for the manipulators to keep prices of essentials rational during a time when the global food market becomes volatile," he says.

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