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The consumer goods market is volatile
When the market for a consumer product is volatile, the government sets the price of that product in the interest of consumers. But those products are never sold on the retail market at fixed prices. This consumer complaint is long-standing. They say that if the product will not be sold at the fixed price, why is it fixed?
Although the government re-priced edible oil in a meeting with traders last Monday, traders themselves are not meeting that price. On the retail market, open soybean oil sells for Rs 6 more per liter than the fixed price. There have also been reports of selling palm oil as a super palm due to price increases. The price of super palm has risen by 5 rupees per liter in the last week. The daily market price report from the Trading Corporation of Bangladesh (TCB), a government marketing agency, highlighted the sale of open soybean oil above the stipulated price on Friday. Consumers have also said that they are selling at higher prices.
According to stakeholders, not only this time, traders had never before accepted the prices of any consumer product set by the government. They have sold those products for more than the stipulated price. But they were also present at the meeting while they set the price for that product. When the rice market was volatile last year due to the Corona epidemic and four rounds of flooding, the food minister met with mill owners, as well as wholesalers and retailers to set the price of rice.
At that time, the government set the price for a bag of good quality Miniket rice weighing 50 kg at Tk 2,575 at the mill gate and the price for medium quality rice at Tk 2,150-2,250, but it was not accepted later. . Similarly, when the price of potatoes rises, the Agricultural Marketing Department sets the price of potatoes twice in a row and sets it at Rs 35 per kg. But the fixed price was not accepted. Then the price of potatoes rose to Rs 60 per kg.
A search of the capital’s Shantinagar, New Market and Mohakhali commodity markets revealed yesterday that open soybeans were selling for Tk 120-125 per liter. However, at a meeting of the National Committee for Marketing and Distribution of Essential Products of the Ministry of Commerce last Monday, the sale price of soybean oil was set at 116 Tk per liter at retail. The retail price of open palm oil is set at Rs 109.
Which was sold yesterday at 110 rupees a liter on the market. Although the price of super palm has not been set, it has risen by Rs 5 per liter in the last week. Additionally, 1 and 5 liter bottled soybean oil has been found to sell close to the fixed price. Although the retail price of 1 liter of bottled soybean oil has been set at Tk 139, it is sold in the market at Tk 140 and the retail price of 5-liter bottled soybean oil has been set at Tk 60 but is sold at Tk 70 to 80 depending on the company.
Hedayetul Islam, who arrived at the Mohakhali crude market yesterday, said the government also sat down with traders and set the price of oil. But now that more oil is being sold than the fixed price, why is it not being seen? He said, if the merchants do not accept the price set by the government, why is it set? Responding to a question, he said that strict measures must be taken against those who do not comply with the fixed rates.
The government fixed the price of edible oil again on March 15 in a month. Previously, the price of edible oil was set on February 18. The Commerce Ministry said that the price of raw soybeans and palm oil on the international market has also risen.
The country’s edible oil market has been volatile for the past two months. The price of this essential product is rising uncontrollably. In the last two to two and a half months, the price of soybeans has risen from Rs 30 to Rs 35 per liter. What has made consumers suffer. They allege that there is a cycle of manipulation of edible oil under the pretext of higher prices in the international market.
At a recent event in the capital, Commerce Minister Tipu Munshi told reporters that the country’s market has tightened due to higher prices for edible oil on the world market. If the price drops, it will be adjusted again.
Prices for lentils, flour, beef, roast chicken, milk, and sugar go up before Shabbat.
Meanwhile, the prices of various daily necessities rose before the holy Shabbat. With about a week and a half in Shabebarat, prices for lentils, flour, beef, roast chicken, milk and sugar were all up in the market yesterday. A search of the market yesterday showed that the packages of flour were selling for Rs 34 to Rs 36 per kg. Which was sold for between Rs 32 and Rs 35 last week. And medium lentil legumes have risen by Rs 5 per kg in a leap. It was sold on the market yesterday at a price of Rs 80 to Rs 90 per kg. Large lentils sell for Rs 75 to 80 and small lentils for Rs 100 to 110.
Meanwhile, the price of broilers has been climbing for the last month. Broilers are sold at 180-185 Tk per kg on the market the same day yesterday. Also, domestic chickens are sold at Rs 450 to Rs 500 per kg and rooster breeds at Rs 330 per kg. The price of beef has also risen. Beef was sold at 800 Tk per kg on the market yesterday after increasing by 20 Tk per kg.
Meanwhile, sugar and milk are among the most popular items on Shabbat. The prices of these two products also increased yesterday in the market. The price of sugar has increased by 3 Tk per kg and is sold between 6 and 80 Tk. Dano brand milk powder is sold at Rs 710 to Rs 630 per kg and Marks at Rs 580 to Rs 580 per kg.
Ittefaq / YES
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