Rein in unbridled hike in sugar price

Yet again the price of sugar was hiked by Tk 10 a kg. The price of sugar went up by Tk 16 a kg barely a week ago. The government last week readjusted the retail price of sugar. In a span of few days the increase in the price of this household essential product twice is a big blow to consumers, especially marginalized and middle-income people. The first time it was hiked by the government and the second time the Trading Corporation of Bangladesh (TCB) did it.

The kitchen market appears to be in complete disarray. No one knows who is going to do what. Sugar is now selling at Tk 140 a kg in the capital’s kitchen markets. Just before Eid, loose sugar was sold for Tk 115-120 but price continued to rise from the beginning of May. Last week following the request of mill owners, the government hiked the price by Tk 16 fixing the price at Tk 120. But the traders were not satisfied with the price fixed by the government. In the capital the price is above Tk 140.

Of course, the government on the basis of market study fixed the price. Then why didn’t traders and businessmen pay heed to the decision of the government? If they don’t follow the government decision then who are running the state affairs? We think and strongly believe that the unruly and law-breaking traders should immediately be brought to book. If the government fails to do that ultimately common people will have to pay dearly.

Sugar is a very essential daily commodity used in many different food items and drinks at home and at restaurants. The sugar market has been in a volatile situation for a quite a long time. Many steps taken by the government has not come to any fruition. Now it is time for the government to take immediate steps to regulate the unregulated sugar market with an iron hand.

Not only sugar, prices of egg, meat and edible oil have also gone up across the country. According to traders, they increased the price of egg due to increases in the prices of fish, meat and vegetable. It is not hard for any sane person to understand that this is a lame excuse to hike the prices of essentials. They also reasoned unreasonably that hikes of the prices of those items had pushed up the demand for egg and that is why the price had gone up.

They also said many poultry farmers had stopped production due to an abnormal rise in temperature and frequent load-shedding causing shortage of supply and increase in demand. It doesn’t sound logical at all. Have they stopped production in a day or two? If they want to stop production it takes time because they also have to survive by doing something. If it is not poultry it could be something else. It is time consuming.

The decision can’t come overnight. The sudden and unexpected rise hints at something that is beyond people’s idea. But the government must look into the matter for the sake of survival of ordinary people. For a long time we have reportedly heard about syndicates regulating the markets of different kitchen products. There has reportedly been a shadow government operating and controlling the markets.

And this is only the reason, many think, for which the prices of essential items can’t be reined in. Consumers, marginalized people and even a section of officials in the government are putting the blame on the syndicates for the frequent and disproportionate hike of the prices of daily essential products.