Contain price hike during Ramadan

With Ramadan approaching, prices of essential goods have started to rise again. This is happening even though imports have increased in recent months. Traders say the rise is due to goods being stuck at the port, delays in unloading, and higher demand following the election holidays. According to a report in the daily Samakal, a total of 110 ships are stranded on water waiting to unload at Chattogram port. Half of these vessels are loaded with rice, lentils, chickpeas, dates, sugar, edible oil, and other daily necessities.

A prolonged work stoppage at the port, followed by the election holidays and restrictions on vehicular movement, has caused severe congestion. Normally, around 5,000 TEU (twenty-foot equivalent unit) containers are cleared daily. During the disruption, that number fell to nearly one-third of the usual volume, and on some days, no containers were cleared at all. As a result, around five million tonnes of goods are now stuck aboard vessels, while container backlogs at the jetties have climbed to over 41,000, making the situation worrying. Importers had reportedly brought in goods early this year, anticipating the proximity of Ramadan and the election. However, many have been unable to release their consignments on time. Even though port authorities say they are prioritising Ramadan goods, traders say that it may take another week, or even longer, to clear the backlog.

The impact is already visible in wholesale markets such as Khatunganj. Within a week, prices of onions, garlic, ginger, chickpeas, lentils, and vermicelli have increased. Date prices have risen by Tk 50-100 per kg, chickpeas by Tk 5–10 per kg, garlic by Tk 15, and vermicelli by up to Tk 150 per maund. Onions and lentils have also become more expensive. Together, these increases place significant pressure on household budgets.

There are reports that some traders may be deliberately holding back goods or exploiting the port congestion to raise prices. Weak market monitoring during the election period appears to have allowed such practices to go unchecked. If syndicates or unscrupulous traders are manipulating supply to drive up prices, authorities must act quickly to identify and stop them.

The government must ensure the uninterrupted clearance of essential commodities at the port. Special logistical arrangements, extended working hours, and coordinated transport support may be necessary to clear the backlog. Equally importantly, market monitoring must be strengthened. Authorities should verify stock levels, enforce transparent price displays at wholesale and retail markets, and take swift action against hoarding or collusive practices. If imports are indeed higher than last year and demand forecasts are clear, there is little justification for excessive price volatility ahead of the holy month of Ramadan.