<i>Soaring rice prices</i>
Photo: AFP
In this era of globalisation, we have adopted many trade liberalisation policies and are confronting the adverse effects of skyrocketing rice prices. The recent surge in the prices of rice in Bangladesh is the result of the global price hike. It is not the domestic supply and demand of rice that is pushing the prices up, it is the global supply and demand that is affecting the prices. I am so eager to know why the economists are stating that increasing the domestic rice production will lower the prices. The rise in domestic production may increase income but won't have any effect on prices, as we are part of the global market.
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