The New Nation - Internet Edition

IT is reported in the press, that the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), has expressed concern over the price hike of consumable goods. He also referred to the prevailing rates of prices at which essentials are sold at major wholesale and retail markets in the city and elsewhere in the country. He has asserted that the situation in the market virtually reflects the failure of the business community to take appropriate measures on collection, storage and distribution of consumable goods at fair prices from wholesale markets to retail markets.

The difference between the price-rates at the wholesale and retail markets was considered high. The same price is much higher than the price at which farmer are found selling their products. The retailers have been blamed for earning more profits with the advent of the holy month of Ramzan. The price of rice and flour apart, the price of other items like brinjals, onions that are used for production of Iftar items has increased remarkably.

The concern expressed by the chief of the apex chambers of commerce and industry reflects the concern of the consumers. Corrective measures have to be taken by official agencies, the chambers of commerce and industry, the association of owners of stores and shops in the wholesale and retail markets. On a priority basis, a market monitoring system has to be introduced. Price-rates of consumable item have to be displayed at the shops in wholesale and retail markets.

However, caution should be exercised while making efforts to control the prices of perishable items which sell for different prices not only depending on quality but also the peak and lean shopping hours. Late in the evening such items are sold at throwaway prices by shoppers to avoid wastage. Without taking these factors into consideration, jumping to hasty conclusions and actions might be counter-productive.