Dhaka: Retailers, wholesalers, and corporate importers of essential commodities in Bangladesh have asserted that there is no justification for an increase in essential goods prices, provided that the supply remains consistent. They cautioned, however, that ensuring market stability could become challenging unless the government addresses the ongoing fuel shortage, alleviates supply chain disruptions, and curbs the role of middlemen.
According to Bangladesh Sangbad Sangstha, these insights were shared during a meeting on the market situation of essential commodities at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office in Motijheel. FBCCI Administrator Md Fazlul Hoque chaired the session.
Business leaders emphasized the importance of maintaining an adequate supply of sugar, edible oil, lentils, flour, and wheat flour to prevent any unusual price hikes. They stressed the need for an uninterrupted fuel supply to production-oriented industries to ensure smooth manufacturing processes.
Representatives from mill owners claimed they are striving to maintain stable supplies and prices despite the current energy crisis. They noted that domestic sugar prices have not increased even though global raw sugar prices have risen.
Golam Mowla, general secretary of the Moulvibazar Traders Association, highlighted that market stability is contingent on continuous imports and mill-level production. He urged the government to resolve the fuel crisis and address complications related to letters of credit (LCs).
Saifur Rahman Sujon, general secretary of the Karwan Bazar Raw Materials Arat Traders Owners Association, suggested that street hawkers and unregistered traders should be included in market monitoring efforts to strengthen price control.
Md Zakir Hossain, general secretary of the Bangladesh Super Market Owners Association, proposed reducing the number of intermediaries in the supply chain to maintain market stability.
Trade body leaders called for law enforcement intervention to prevent harassment within the supply system and demanded enhanced monitoring of prices at mill gates, as well as in wholesale and retail markets.
Md Abul Kalam Azad from the Consumers Association of Bangladesh (CAB) emphasized the necessity for both government and private sector actors to ensure uninterrupted supply and mitigate the influence of middlemen.
Mill owners also pointed out that recent gas and electricity shortages have hindered production, drawing attention to ongoing LC-related challenges.
A Trading Corporation of Bangladesh (TCB) representative mentioned that the agency is providing essential commodities at subsidized prices to approximately 10 million families through its Family Card program.
A representative from the Directorate General of Food indicated that rice distribution to low-income individuals under the Food-Friendly Programme has positively impacted price stability.
Business leaders suggested that TCB should enhance its capacity for direct imports and source products from alternative international markets, in addition to local procurement.
Concluding the meeting, FBCCI Administrator Md Fazlul Hoque stated that the recommendations from business leaders would be documented and presented to policymakers. He urged cooperation among traders to ensure that the newly announced national pay scale does not adversely affect essential commodities’ prices.
The meeting was attended by senior officials from FBCCI, leaders from various chambers and trade associations, representatives of corporate organizations, and officials from several government ministries and commissions.