Consumers should be prudent

This time, before Ramadan, the prices of daily necessities have skyrocketed. In order to keep the market stable during Ramadan period, buyers should be more frugal and more tolerant in their purchases.

Everyone should be proactive from their own place. Although the past Corona, Ukraine-Russia war, dollar crisis, complications with bank LC opening - dishonest traders have increased the price of products on such excuses. Common buyers are held hostage by such syndicates. In order to avoid problems in bringing Ramadan products, the government has allowed the import of products during the rest of the year. Banks have been specifically instructed to open LCs in this regard. Businessmen are enjoying the benefits. But it has no effect on the market.

The prices of everyday products are only increasing. The impact of prices is more pronounced in the wholesale and retail markets of different districts of the country including Dhaka and Chattogram. Market analysts say syndicate tactics of such traders have changed. Earlier, when fasting started, the prices would have increased. At that time there would be shouts from all sides. Government activity would have increased. As a result the syndicate could not go far. Due to these reasons, now they start increasing the prices of daily products one and a half to two months before fasting.

This trend continues till the first Ramadan. Due to the tactics of the traders, the concerned have asked the buyers to be careful. They requested that no one should buy too many products at once. According to them, even if the buyers are cautious, the market must be strictly monitored from now on. Otherwise, the price of goods will increase before Ramadan. In that case, common people will spend Ramadan in discomfort. No one should buy too many products at once. According to them, even if the buyers are cautious, the market must be strictly monitored from now on.

On the other hand, due to the increase in the value of the dollar, the price of imported goods will be about 30 per cent higher this time, according to the government organization Bangladesh Trade and Tariff Commission. However, another organisation of the government, Trading Corporation of Bangladesh (TCB), says that one month and 17 days before Ramadan, the price of imported goods is 59 per cent higher than last year. However, ginger is being sold at a maximum price of 111 per cent. And the traders say that if the LC complications in imports are not removed, the price of goods will increase during Ramadan.

Meanwhile, in such a situation, folds of thought have started falling on the forehead of the buyer. They say that the prices of all kinds of products increase when fasting comes. That is what is being done this time. However, compared to last year, the prices of all types of products have doubled to triple this time. But the income did not increase. Chaktai-Khatunganj, the country's largest consumer goods market, is under the control of syndicates before Ramadan.

Multiple syndicates are increasing the prices of consumer goods by creating an artificial crisis. Meanwhile, the prices of gram, sugar, onion, dal, edible oil and chicken have been increased. Although there is no shortage of supply, prices are increasing. Meanwhile, edible oil is not being sold anywhere at the price set by the government. The price of chicken has increased by Tk 20 to 30 in the last one week. The prices of these products are higher in different upazilas of Chattogram.

According to sources, due to the market monitoring of the previous administration, wholesale traders do not get the opportunity to increase the price of goods during Ramadan. They have changed tactics now. Before Ramadan comes, they increase the prices, so that they don't have to face questions about it later. This time, just before Ramadan, the prices of daily necessities have increased which is not desirable. Consumers are also responsible for the price hike. This creates an artificial crisis.

Holy Ramadan is the month of great teaching of compassion and self-restraint. There have people with intolerant behaviour. They buy daily products for the whole month of Ramadan for the family, not for a week which increases the demand for the product. Wholesalers raise prices to accommodate increased demand.

According to BIISS research, there is no shortage of products in the market though. Still, the government is struggling to keep the whole system in order. So let us be frugal in this situation. Let us shop wisely.

The same advice is from the National Consumer Directorate. It is being said by the National Consumer Rights Protection Directorate that we must eat eggplant or cucumber in Iftari, in that case we the consumers attack the market and make the market unstable. We have the opportunity to be more aware. After the first week of Ramadan, the prices of commodities remain stable. People have to be a patient. Besides, considering the demand of Ramadan, it is important for traders to increase the supply of goods in advance.

The writer is a freelance contributor