Despite the commerce ministry’s stringent measures to regulate the prices of staple items such as potatoes, onions, and eggs, shopkeepers across the country are boldly flouting the government-fixed rates, sparking outrage among consumers.
On Thursday, the ministry announced price caps for potatoes at Tk35-36 per kilogram (kg), local onions at Tk64-65 per kg, and eggs at Tk12 per piece. Besides, the price of bottled soybean oil was fixed at Tk169 per litre, non-bottled soybean at Tk149, and palm oil at Tk124.
However, a visit to kitchen markets in Karwan Bazar and Moghbazar Aambagan areas of the capital on Friday morning revealed that shops were still selling eggs for Tk13 each. Additionally, potatoes were selling for Tk50 a kg, while local onions ranged from Tk85 to Tk90. Imported Indian onions, which were also subject to price controls, were selling for Tk65 to Tk79 per kg.
Reports of price violations were not limited to Dhaka alone. TBS correspondents from Cumilla, Savar, Brahmanbaria, Sylhet, Bogura, Kushtia, and Chattogram regions confirmed that onions, potatoes, and eggs were selling above the government-set prices.
Data from the Trading Corporation of Bangladesh (TCB) showed that local onions were selling for Tk70-80 per kg, imported onions for Tk60-70 per kg, and potatoes for Tk42-50 per kg on Friday.
According to the TCB, potatoes and onions have seen 67.27% and 82.35% hikes in prices, respectively, over the past year.
The National Consumer Rights Protection Directorate conducted drives across the country on Friday to ensure compliance with the government’s price regulations and fined traders who were found guilty of overcharging.
“We are monitoring the market. I will go to Munshiganj tomorrow to visit the cold storages there. After that, I will visit Bogura and Rangpur. We’re doing as much as we can,” said AHM Shafiquzzaman, director general of the Directorate of National Consumer Rights Protection.
Ashikur Rahman, a concerned buyer from Brahmanbaria, observed that the cost of everyday essentials has surpassed the affordability of the average citizen.
He pointed out that despite recent attempts by the government to regulate prices on certain products, many traders have resisted these measures. This resistance, coupled with inadequate market monitoring, has allowed business syndicates to exploit artificial crises, driving up prices.
Ashikur emphasised the urgent need to dismantle these syndicates in order to rein in unjustified price hikes.
When asked why they were not selling goods at the government-set prices, retailers told TBS that they had purchased the goods at higher rates, and would face financial losses if they adhered to the government-set rates.
Hridoy Hossain, the proprietor of a grocery store in the Aambagan area, elaborated, “I procured eggs for Tk50 per haali [four pieces]. Taking into account other overheads, I would have to sell them for Tk53 per haali just to break even.”
He emphasised that retail prices cannot decrease unless wholesale prices follow suit.
In Reazuddin Bazar of the port city of Chattogram, potatoes were selling for Tk42-48 per kg, eggs for Tk150 per dozen, and bottled soybean oil for Tk175 per litre at the retail level on Friday. On the other hand, good-quality onions were selling for Tk65-70 while low-quality onions were selling for Tk60 per kg.
Sellers there also claimed that they were selling the goods at high prices as they had bought them at high rates. They, however, expressed hope that the market would be settled within 2-3 days once new stocks at lower prices arrive in the retail shops.
Similar circumstances were also observed at the Karwan Bazar wholesale market, where vendors were selling commodities above the rates mandated by the government.
In the market, TBS found that retailers were buying onions for Tk75 and potatoes for Tk45 per kg, prices significantly higher than the government-imposed caps.
On such retailers, Sabbir Hossen, told TBS, “After procuring goods at wholesale rates exceeding the government’s caps, it becomes challenging to sell them at the capped retail prices.”
He called for increased monitoring and adjustments in wholesale rates to ensure compliance with government-mandated prices.
Faruk Hossain, a wholesaler at Karwan Bazar, proposed that prices should be determined at the potato cold storage level. “Only then can we purchase at a lower cost,” he said.
“When potatoes arrive in trucks at Karwan Bazar, we acquire them at Tk41-42 per kg. We must also pay shop rent and occasionally deal with rotten and undersized potatoes, which we sell at reduced prices. If we set the wholesale price below Tk45, it becomes challenging to maintain profitability.”
Meanwhile, during a drive at Chattogram’s Reazuddin Bazar on Friday morning, the Consumer Rights Protection Directorate fined the owners of three wholesale shops Tk12,000 for not being able to show the price lists and purchase receipts.
Mohammad Faizullah, deputy director of the directorate, told the media that drives against unscrupulous traders would continue.