Government to monitor fragrant rice market

The Ministry of Food is stepping up strict monitoring at the retail and wholesale levels to control the price of fragrant rice in the country's market. Food Minister Afrozah Khanam has said effective steps will be taken to keep the market for all consumer goods normal and within the reach of ordinary people, not only during times of crisis. However, the Consumers Association of Bangladesh (CAB) has urged strengthening long-term and sustainable monitoring instead of showing only temporary vigilance on the matter.

Due to the open opportunity for export, the price of fragrant rice increases when there is a supply crisis in the country. Polao rice is being sold at Tk 220 to Tk 230 per kilogram in the market. In such a situation, the government reduced the approved quota for fragrant rice export by 50 percent. Even then, the price did not decrease.

Visiting the capital, a buyer said, "It is food for everyone—ordinary people, the middle class, the upper class. So we want the price of this rice to come down."

Another buyer said ruefully, "The problem is greater for people like us. Income is three taka, but expenses are ten taka."

The rise in the price of fragrant rice has affected hotels and restaurants. The prices of polao and biryani have increased, while sales have dropped. Restaurant owners allege that a few large corporate groups are hoarding rice and driving up prices.

Firoz Alam Sumon, acting general secretary of the Restaurant Owners' Association, said, "Big companies have created an artificial crisis. If the government monitors properly, it is possible for the price to come down within a week. And our business has been greatly affected. The prices of electricity, gas and oil are all high. Now we, the restaurant businessmen, are in distress."

Food Minister Afrozah Khanam said the production of fragrant rice in the country is good and stocks are adequate. There is no reason for the price to increase.

The minister said, "We will do this work so that the public does not face any inconvenience. We will take measures so that people can buy according to their means. You have seen that the country's food stock is in a good position. We will work in such a way that the public does not face any difficulty."

Prices of consumer goods in the country do not usually decrease once they increase. Keeping this reality in mind, CAB has urged protecting the interests of consumers.

CAB Vice President SM Nazer Hossain said, "The relevant government agencies can sit and discuss why and how the problems are being created."

According to government data, although 278 companies received approval to export 45,000 tonnes of fragrant rice, only 2,500 tonnes were exported in the last three months.