Rice price goes up!
We are pleased that the government has clarified the confusion regarding a fake letter which said that India had stopped exporting rice to Bangladesh. But at the same time, it is a reality that the price of rice has increased significantly in the recent past, creating much suffering for ordinary citizens. What then is causing this?
According to the Trading Corporation of Bangladesh, the retail price of coarse rice rose by Tk 1 a kg every day from September 11 to September 13, and then by Tk 2 on September 14. The government has said that this hike is not due to any shortage of rice in stock, but has rather been driven by a conspiracy hatched by a certain quarter that is aiming to destabilise the rice market. This is indeed a serious allegation and, if true, demands careful investigation.
It has also been alleged by the government and other stakeholders that a section of traders had also made a hefty profit in the last few days, having spread the fake information. This too, we believe, requires thorough investigation. However, what we do find inexcusable is the ministry's inability to foresee and stymie the sudden and sharp increase in the price of the staple, especially at a time when the country is already facing a number of crises, including the devastations caused by floods.
Under the circumstances, we are pleased that the government plans on distributing rice to the ultra-poor at a low price, but must also stress the need for vigilance against any corrupt practices. Moreover, it needs to address the reasons for the price hike and hold those responsible to account.
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