Fingers pointed at all as prices rise

The Dhaka Chamber of Commerce and Industry (DCCI) yesterday urged a gathering of wholesalers of top essential commodities to refrain from making extra profit during Ramadan, to give consumers a respite from the rising prices.
The wholesaler association leaders said they did not cause surging prices. They instead blamed the government for failing to amass statistics on demand and supply of essential items during the holy fasting month.
Abul Kasem Khan, DCCI president, said prices of essential commodities show an upward trend every Ramadan, and this year is no different.
“But as part of the business community's responsibility to the society, they all should try to keep the prices stable and within the purchasing capacity of the people,” he said.
Khan said the businessmen normally profit due to a rise in demand during the fasting month: “So there is no need to run after extra profit. We also need to keep the prices of commodities stable on religious grounds.”
Niaz Rahim, coordinator director of 'Protection of Consumers Rights, Essential Commodities and Market Monitoring Standing Committee -- 2010' of DCCI, said there is no reason to hike the prices of the essentials when import and local production costs did not go up.
“The businessmen should not try to profit more in the event of any supply shortage,” said Rahim.
Golam Mawla, general secretary of Moulavibazar Merchants Association, said the government should introduce a “memo system” at all levels, to know at what prices traders, wholesalers and retailers are selling items. “It will unmask the traders who are actually doing unethical business.”
He said the country should go for a permanent solution on prices of commodities, instead of trying ad hoc measures shortly ahead of Ramadan, which hardly works.
The businessman said that, four months ago, they urged the commerce ministry to import sugar and edible oil or buy them from local refiners. The price of both items was then lower in the global market. “But they did not listen to us,” said Mawla, urging the government to introduce or strengthen its market intelligence.
Abul Hashem, general secretary of Bangladesh Edible Oil Wholesalers Association, blamed the erratic behaviour of traders -- and even on the consumers -- for hikes to prices.
“The businessmen want to ensure healthy stock at any cost,” he said. “On the other hand, the consumers rush to buy more in fear that prices may go up as Ramadan progresses.”
Hashem said ample supply in the country will keep the market stable. “Falling prices in the global market and supply in the pipeline do not help much,” he said, urging the government agencies to buy less from internal sources.
Anwar Habib, president of Bangladesh Sugar Merchants Association, wanted to ban local sugar purchases by soft-drink-makers during Ramadan.
The country's beverage makers consume around 20,000 tonnes of sugar a month, he said.