Uncontrolled Market: Who holds the responsibility?

The prices of essential goods are not coming under control at all. The prices of rice, lentils, oil, fish, meat, sugar, and eggs are rising, and now the prices of vegetables have also skyrocketed. The cost of vegetables is jumping rapidly, leaving the general public in distress. After the fall of the Awami League government, there was a sudden drop in vegetable prices, which brought joy to many. People thought happiness had returned, but this situation did not last even two days. Citing rain and floods as excuses, the prices of various vegetables surged even higher than before. Currently, prices in the fresh market are out of control for almost all products without any apparent reason. Most vegetables are now priced at 80 to 100 takas per kilogram. As a result, limited-income consumers are struggling as they enter the market with their bags. There are growing questions among buyers about who is controlling the market, or if anyone is in control at all. Some have even started reminiscing about the better days of the past.

Not only vegetables, but the prices of eggs, chicken, and fish are also rising rapidly. The prices of beef and mutton have been high for some time now. Even essential items like potatoes, onions, ginger, and garlic are becoming unaffordable. Within a week, the average price of vegetables has increased by 15-20 takas per kilogram, and in some markets, the rise has reached 25-30 takas per kilogram. Over the past month, the prices of almost all types of rice have gone up. The price of eggs has recently increased by 10 to 15 takas, and the price of broiler chicken has risen by 20 to 30 takas per kilogram. The prices of loose palm oil and super oil have increased by up to 15 takas. The prices of ginger, garlic, chili, and onion are now beyond the reach of common people. Although the government has set prices for several products, they are being sold at rates higher than those.

With the Awami League government gone and the old syndicates dissolved, a government task force is supposed to curb skyrocketing prices. However, there is still no clear answer as to why the prices of essential goods, including vegetables, are soaring in this manner.

Logical reasons for the rising prices remain elusive. Many believe that dishonest traders and middlemen are primarily responsible for the price hikes. While prices of some products have decreased in the global market, this has not had any impact in Bangladesh; instead, prices have gone up. According to traders, transport extortion has decreased, and even though import duties on 29 products have been lowered, this change is not reflected in the market. The Consumer Rights Protection Directorate is unable to function effectively due to a lack of police protection, resulting in a market that remains uncontrolled. Consumers are finding it increasingly difficult to manage their daily lives. Even with a change in government, the influence of market or business syndicates has not diminished, and it appears that the government does not have a genuine concern for controlling prices.

The prices of imported goods often have identifiable reasons for their increase, but it is truly astonishing when the prices of domestically produced vegetables soar. The infrastructure for preserving agricultural products before they are marketed is still almost non-existent in our country. From farmers to retailers, everyone claims that the price of vegetables depends on supply and the wholesale traders, who are also known as "fariya" or "fare."

The prices of vegetables in wholesale markets are determined by how much of each vegetable farmers can bring from the fields. Retail sellers buy from the wholesale market and then raise the prices a bit before selling them in the market. There are complaints not just about the fariyas; wholesale traders also complain that when the supply in the market decreases, prices go up. Taking advantage of this situation, retailers often hike the prices of vegetables significantly.

When the yield is low, prices naturally rise. But that doesn’t justify eggplants reaching 180 takas! Producers receive no more than 30-40 takas. Vegetables come to the city from rural markets, and from there, a certain group of wholesalers or middlemen send the vegetables to the city. When the supply of vegetables increases, the middlemen lower the prices. They buy vegetables from farmers and sell them to wholesale traders, keeping a 4-5% profit on the purchase price.

Additionally, there are local middlemen who buy vegetables from small farmers at much lower prices. Since many of these farmers bring their crops to market together, the transportation costs for the middlemen decrease. As a result, small farmers have been suffering for a long time. The wholesale traders argue that due to the costs of sorting, loading vegetables onto vehicles, labor costs, and the wastage of some vegetables during transportation, prices need to rise to cover their profits. Furthermore, they have to pay off various individuals on the road, and those extortion costs also add to the vegetable prices.

The prices of vegetables are rising with each transfer between wholesalers, middlemen, and retail sellers. Each party is increasing the prices whimsically, and the prices of goods vary from market to market. Producers, the farmers, are not receiving a fair price for their crops, while the common people are being squeezed financially.

There have been many proposals to establish a system where farmers can directly bring their produce to the market and wholesalers can buy vegetables from them at fair prices, with no intermediaries involved. However, such plans have not yet been implemented.

The interim government must take responsibility for the rising prices of essential goods. Comprehensive measures need to be taken to control the market. For ordinary people, the ability to purchase goods at reasonable prices is more important than the prosecution of those associated with reforms or fascist rule.

People only seek good governance when they can eat and survive. If those with limited incomes cannot buy essential goods, they may resort to rebellion. When the common people are angry, the objectives for which the interim government came to power can also be jeopardized. Therefore, the government must take the utmost initiative to ensure that the prices of goods remain at a bearable level.

Chiraranjan Sarker: Columnist.