Unwarranted rise in prices

By what has been reported in this newspaper, we are taken aback to see the unusual hike in prices of produce, and that too coming from regions relatively unaffected by recent floods is rather inexplicable. The excuse put forward by merchants that supply of vegetables has been curtailed due to the natural calamity does not hold up in the face of facts. How are consumers to deal with a rise in prices of essential food items to the tune of up to 50 per cent on certain popular vegetables in the span of a week? Needless to say, consumers other than the upper class are feeling the pinch to the fullest.

Although we are fully aware that the recent floods have created some problems with the supply chain of vegetables to the capital city, surely it does not warrant a kind of spate in prices that is being observed. How can the price per kilo of chilli rise threefold from Tk40 per kilo to Tk120 per kilo within seven days? Obviously, there has been withholding of supplies at wholesale level to create an artificial shortage at retail level. One may ask precisely why the authorities have no effective kitchen market price monitoring cell to prevent traders from taking consumers for a ride. That syndicates are behind manipulation of pricing is old news. The current spurt in prices should serve as an early warning for the government to continuously keep tab on prices and intervene when necessary to protect consumers' interest.