FE Report

With only 10 days remaining for the holy month of Ramadan to begin, prices of essentials are increasing in the market despite different corrective measures taken by the government, sources said.

Although the commerce ministry and traders assured that the prices would remain stable in the market in Ramadan, prices of sugar, groceries, onion, garlic, potato, edible oil and lentil rose considerably.

Retail price of garlic increased by over 100 per cent within a month, while other spices became dearer by 15 to 30 per cent, market sources said.

Local garlic price increased by 141 per cent within a month as the multi-cell imported garlic was being sold between Tk 80 and Tk 84 a kilogram against Tk 32 and Tk 36 a month ago.

The single cell local garlic was selling at Tk 120 per kg, almost double the price a month ago.

Ginger of different varieties was selling between Tk 80 and Tk 110 last week, up by Tk 20 in the last seven days and Tk 30 within a month.

Turmeric was selling between Tk 125 and Tk 140 against Tk 95 and Tk 100 a month ago, while dry chilli was retailed between Tk 130 and Tk 150 against Tk 100 and Tk 110.

The prices of sugar and pulses gained 10 to 50 per cent during the period and edible oil, the prices of which dropped in the last few weeks, are now gaining.

The government has taken a number of steps and held a series of meetings with importers, wholesalers and retailers to keep the market stable.

An inter-ministerial monitoring committee on prices of essentials at a meeting held recently decided 10 measures to stabilise market prices, a commerce ministry official said.

"The committee has instructed the Milk Vita authority to increase its supply for Ramadan," he added.

The Trading Corporation of Bangladesh (TCB) will conduct a mass campaign on import position and inform people about the market rate of the essentials, the official said.

Agriculture ministry will take steps to increase the supply of vegetables in the market and Fisheries and Livestock ministry will increase its supply of sweat water and sea fish through Bangladesh Fisheries Development Corporation, he said.

Bangladesh Standard Testing Institute will conduct mobile courts to stop selling of counterfeit products and strict adherence to the minimum retail price act in the market, he said adding, "The committee has requested the industries ministry to import 0.15 million tonnes of sugar on urgent basis."

The committee had also made it mandatory for traders to exhibit price charts in all wholesale and retail outlets and asked the authorities concerned to ensure compliance in this regard, he added.