Date:20 August 2022
price Hike in Bangladesh 
Post:5

Bangladesh is a small middle earning country burdened with a huge population of 160 million people and troubled with various problems including frequent natural calamities. Nowadays price hike is one of the most common and frightful problems in the country. It has already taken the shape of panic. The causes of price hike are multifold. Insufficient production is one of the major causes.

Reason for price increase

Black marketing is the seeond of price hike. The are many misereants who stock essential commodities and create artificial shortage only to gain more profil by selling those at higher prices. They maintain a strong Syndicate and political giants are often involved in the syndicate. The life of low-income people is precarious due to rising commodity prices. Starting from rice, dal, oil, salt, onion, vegetables, there are no daily necessities in the market, the prices of which are not increasing by leaps and bounds. There is no denying, our standard of living has improved. Salaries have increased, wages have increased.

As a result, the income has also increased. Bangladesh is moving forward. However, not to mention here, the list of 15 countries where the rate of extreme poverty has decreased the most between 2000 and 2015, published by the World Bank, does not include Bangladesh. India and Pakistan are named in South Asia, but Bangladesh is not. In those 15 countries, poverty has decreased at a slower rate than that in Bangladesh

Effect of pricing

The higher the prices level, the greater is the suffering of the people. The common people are losing their purchasing capacity. The daily bare necessities are getting beyond their reach. A great many people are being compelled to buy low quality food clothing. An honest officer does not dare live in a spacious flat. The reason can be said to be the unbridled rise in commodity prices. All of the income of low income people is spent on buying minimum food items for survival. They do not have money to spend on health, medical, education etc.

The price of daily necessities has increased several times more than the rate at which income has increased. One reason is that the government has no control over the market. The fact that there is no control was more clearly understood after seeing the Tughlaki incident with onions.

According to the definition of economics, commodity prices depend on supply and demand in the market; But this definition fails here. It is known that the demand of onion in the country is 24 lakh tons per year. Production in the country is 15 to 16 lakh tons. The remaining demand is met through imports.Inspite of abundant supply in the market, suddenly the onion price of 25-30 rupees went up to 250-300 rupees. This commodity is being sold at the highest price in the history of the country. Government initiatives, writings in newspapers, discussion, criticism, but traders have not reduced the price of onion, but many traders have increased the suffering of the people by creating an artificial crisis by stocking onions through syndicat.

List of prices

Not only onions, but every commodity in the market is skyrocketing in price. From rice, pulses, oil, salt, vegetables, medicines, there are no commodities whose prices are under control. What's more, the products we are buying at such a high price are also full of adulteration.Tomatoes and beans are being sold at very high prices in the markets. A kg of tomato is being sold at Tk 100-120. Beans are sold at Tk 160 per kg. Besides, green chillies are sold at Tk 60-70, brinjal at Tk 50, bitter gourds at Tk 40, barbati, chichinga, jinga, rinds and dhundul at Tk 40, local cucumber at Tk 50, papaya at Tk 20. In the market, desi garlic is being sold at Tk 120 per kg. And ginger is being sold at 120 taka. Local garlic and ginger are being sold at Tk 60 per kg. Broiler chicken is being sold at Tk 135-140 per kg. Also, goldfish are being sold at Tk 210 to Tk 220, domestic chicken at Tk 400 to Tk 410. Beef is being sold at Tk 580 to Tk 600 per kg and goat meat at Tk 800-850 per kg.

Prie hike of essential commodities is a great problem in our country. Many people have to starve due to prices hike. Especially the poor people suffer much for it.the government should take all necessary measures to control price hike of essential commodities.