The New Nation - Internet Edition

A.T.M.Nurun Nabi

The government seems determined to engage the members of the joint forces to monitor the price of rice that the government may decide its next course of action. On the other hand, there is an opinion in favour of reactivating Trading Corporation of Bangladesh. Just a good will of the government with sufficient manpower and fund is enough to reactivate TCB. In case of need, the services of Sena Kalyan Sangstha, an organisation of retired military officers, could also be used.

According to reports, the price of finer quality of rice was taka 22 in December 2006 and it now sells at taka 44 per kilo, marking 100 percent increase. The course flour, which was sold at taka 18 per kilo in December 2006, now sells at taka 43, an increase of about 140 percent. As a result, the consumption of this item has substantially decreased. It reveals from the same report that the price of the coarse rice has increased by taka 12 during the same period of time. The it now sells at taka 30-32 per kilo.

The government uses to say that the reason of price hike is the convulsion in the international rice market. Nobody will deny it fully because Bangladesh has to import annually about two million metric tonnes of rice. But the price of rice in the international market differs from country to country. For example, India has demanded $ 500 for per metric tonne of coarse rice whereas Vietnam, Thailand and Burma export at around $ 320. So it is impractical to make the international market situation a scapegoat.

However, an opinion has grown in the rice market, both at the retail and the wholesale levels, that India has become a determining factor in the settlement of the rice-price. The moment India lifted ban on rice export, its price came down by taka three to four per kilo. The example of onion is more ostensible. Consumers had to buy one kilo of onion at taka around 70 per kilo during the month of Ramadan. But with the resumption of export from India, the price began to come down at a tornado speed and at present it sells at taka 15-16 per kilo and the locally grown one at taka 22.

In this regard, experts suggest that the government should issue a statement stating the annual production of rice in the country, the percentage of wastage, the annual demand, the quantity of imported rice, the stock position and the future plan. If the nation knows all these, it will be hard for the traders to fix price as per sweet will. Not only of rice, the government should appraise the nation of all the matters for the sake of the transparency.