Rice getting costlier even after Aman arrival
Contrary to peoples expectation, rice price has increased by Tk 2-3 per kg after arrival of new Aman rice in the market. When a few months ago, hike of rice price broke all previous records and even the coarse variety of the commodity was selling beyond Tk 50 per kg, the government assured people that with the arrival of Aman production, the market would return to normalcy. With rather empty silos, the food ministry then sat with the rice millers and dealers and requested them to bring down the price.
Responding to the ministrys pleading, the rice traders agreed to lower the price, but not much, and the coarse variety came down to below Tk 45 per kg. At that time, the food ministry hoped, like all, that Aman harvest would farther reduce the price. But it hasnt done so. And the rice traders said that there is little possibility of fall in prices as Aman production is not adequate compared to Boro output.
What the government would do now? The point here is, it was when the rice price spiked the most the food minister ought to have much more proactive in his approach. Because he did not have enough rice in stock so that the rice millers and dealers could not raise the price taking this as an opportunity. And the uncontrolled rice price has made the all gates of hell break loose as it triggered increase in the prices of most of the daily commodities.
Even now when rice price has increased after arrival of Aman production, the government is telling us that the increase is only temporary. This is despite the fact that for a long time, after floods in Haor region this year, people are buying rice giving exorbitant price. And now the government itself has to take a decision to procure three hundred thousand tonnes of Aman rice at Tk 39 per kg from the local market.
As the government has failed to manage the market as a whole, not just rice price, it should take this matter seriously and devise policies that would quickly bring welcome changes in the prices of all commodities.
The food ministry is a very important ministry and success of this department determines to a great extent the success of a government in Bangladesh. The relevant ministry must always have enough stock taking of rice so that businessmen do not get an excuse to shoot its price in an unholy way.
