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Commodity Price Rise And Its Remedies

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Written by   442
6 months ago

Introduction :

Bangladesh is one of the developing countries of the third world. The standard of living of 80 percent and more people in this country is low. Because, their income is low. The country is also plagued by terrorism, extortion, political instability, and population growth etc. In this situation, the rise in the prices of essential commodities in this country has made the lives of the people miserable. Anti-social activities such as black market, profiteers, hoarders, etc. have upset the social situation. Commodity prices have reached such a level that it is no exaggeration to say that they are beyond the reach of the common man.

The Reasons For This Rise In Commodity Prices :

Population Growth :

Bangladesh is one of the poorest countries in the third world. With an area of ​​only 56,000 square miles, 160 million people live in this country. This number is very deadly compared to the size. As an agricultural country, production does not meet the needs of this large population. Therefore, as demand exceeds supply, commodity prices continue to rise very fast.

Decreased Agricultural Production :

Despite Bangladesh being an agricultural country, agricultural production is not increasing in line with population growth, One of the reasons for this is that the farmers do not get the required items like fertilizers, seeds, pesticides in time. In addition, droughts, torrential rains and various natural disasters reduce agricultural production. And as a result of this decline, commodity prices are bound to rise.

Political Instability :

When the political situation in the country is unstable, that is, the transportation of goods from one place to another is disrupted due to fights, robberies, Political movements, strikes, strikes. As a result the manufactured goods are wasted which in turn leads to commodity crisis and increase in commodity prices. Especially in urban areas the prices of essential commodities like rice, dal, fish, meat etc. go up.

Social System :

Since human beings are social beings, they have to keep pace with everyone. Competition is born out of the tendency of people to keep pace. It is our habit to compete with the things in the neighbour's house and buy more expensive things. That is why many people do not hesitate to buy many unnecessary things. As a result of competition, the price of things increases.

Administrative Corruption :

Administrative corruption is not a rare occurrence in our country at present. Illegal and corrupt traders illegally increase the price of goods at the behest of the administration. But the administration pretends not to see it. Besides, there is no less a precedent of taking bribe and releasing these illegal traders without punishment.

Remedies :

  • Demand must be reduced and supply must be increased to prevent population explosion.

  • Its economic and social status depends on the political situation in the country. So we have to take care to keep the political situation stable.

  • Black marketeers and stockholders keep local goods in check in the hope of making more profit And increase commodity prices by creating artificial crises. Smugglers buy goods from the country at low prices and smuggle them to other countries at night. Due to this there is a shortage of goods in the country and the price of goods goes up. So we have to prevent black market and smuggling.

  • From the big cities of the country to the small hat bazaars everywhere from extortionists and bad people, They collect extortion money from everyone such as factory owners to small traders. In this, all the factory owners or traders increase the price of goods and compensate the money. So extortion and bullying must be stopped.

  • There are rules for paying direct taxes on any product in the country. But due to the complexity of this system, traders, producers and suppliers often increase the price of goods and The market reacts to it. Therefore, the existing complexities in the tax system need to be resolved.

  • In order to increase production in agriculture, it is necessary to ensure easy access to credit, good seed supply and easy availability of necessary fertilizers and pesticides among the farmers.

  • Need to increase its production by establishing factories. It is necessary to increase its production by opening closed factories.

  • Taxation needs to be simplified. Black marketeers, usurers and hoarders must be eradicated from the society. Therefore, they can be boycotted not only officially but also socially.

  • The administration needs to build strong social resistance against anti-social activities like bribery and corruption.

  • To make it compulsory for every store, business establishment to provide and preserve the price list officially and to trade accordingly.

Conclusion :

It is possible to keep the market price stable only if we can prevent all the factors that cause the price rise. So we should find out the source of those reasons and Remedy her. Only then will commodity prices remain stable. And man will get his desired product within his purchasing power.

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Written by   442
6 months ago
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