Prices to remain ‘stable’ during Ramadan

The prices of essential commodities during the upcoming month of Ramadan will remain stable as the country has sufficient stock for fulfilling the demand, a high trade official said Thursday.
"We have sufficient stock of essential commodities to fulfil the demand during Ramadan," senior secretary of the ministry of commerce (MoC) Mahbub Ahmed told a group of journalists at his office on the day.
He said the MoC held meetings with the importers, wholesalers and retailers. They informed the government that the country has sufficient stock of gram, onion, sugar, edible oil and lentil. During the month of fasting the prices of those commodities will remain stable.
He said the country has imported 1,18,000 tonnes of gram this year. The annual demand for the item in the country is 80,000 tonnes. During the Ramadan 70,000 tonnes are consumed. The country produces 10,000 tonnes of gram annually.  
As per the information of the ministry of agriculture, the country has produced over 1.35 million tonnes of onion this year. The annual demand for onion in the country is about 2.20 million tonnes. During the Ramadan the demand for onion is about 0.14 million tonnes. The country has to import about 0.85 million tonnes of onion annually.  
Besides, import of onion from  India is going on. On an average 200 onion loaded trucks enter the country every day from India.
The annual demand for sugar in the country is 1.45 million tonnes. Till April last 1.48 million tonnes of sugar have already been imported in the country. The country produced 0.12 million tonnes of sweetener this year. The prices of sugar in the international markets are now showing a declining trend.
The annual demand for edible oil in the country is 1.45 million tonnes. About 1.26 million tonnes have already been imported.. More 0.15 million tonnes are on the pipeline.
The annual demand for lentil in the country is over 0.37 million tonnes. The present stock is more than 0.45 million tonnes.
Mr Ahmed said the MoC has directed the land and sea ports authorities for quickly complete the official formalities so that the consignment of imported goods could reach the destinations timely.
 "We have asked the ports authorities for swift unloading of imported commodities' consignment," he mentioned.
He said apart from the private sector initiative, the state- run Trading Corporation of Bangladesh (TCB) has started selling essential commodities across the country.
He said the TCB has sufficient stock of sugar, edible oil, gram, lentil and dates for fulfilling the demand in Ramadan.  
The senior secretary said the government will take legal action against those who try to create artificial crisis of essential commodities and price hike.
The government and the intelligence agencies have been strictly monitoring the situation. The overall supply of essential commodities and their prices are now stable in the markets, he added.      
He said a total of 14 teams of the MoC have been monitoring the kitchen markets in the capital. The Directorate of National Consumer Rights Protection (DNCRP) is also conducting raids at the markets across the country.  
Besides, shops in the kitchen markets were directed to hang price charts of essential commodities in a visible place of their respective business establishment. The traders have been asked to maintain money receipts of buying and selling of commodities.   
The DNCRP and the district administration will regularly monitor price charts at the markets in the districts. If any person/ organisation do not follow the government directives then legal action including suspension of business licenses/ registration will be taken against them.