The rise in the prices of essential commodities has become a very serious issue. The daily necessities of life are becoming costlier with each passing day. The government's market intervention mechanism has failed to produce the desired results, mainly due to faulty procurement; it has imported a substantial volume of non-parboiled rice though the vast majority of consumers are habituated to consuming parboiled type of the cereal. The prices of rice

have, however, been stabilised to a large extent but that too at a considerably higher level than what was the case even six months back. In fact, there is no limit to galloping prices.

The steep rise in prices has severely hit the poor and middle class. They groan day and night under crushing weight of rising prices. The government must realise that price line is the life line. And also fresh increase in the price of edible oil is noticeable. Apart from the pull-push factors in the open market economy, there are manipulators, profiteers and syndicates to create volatility in the retail market. Unscrupulous traders have been exerting unbearable pressure on people in general, especially on fixed income groups of people in society.

Though it is believed that there is an adequate supply of essential commodities, their prices keep on soaring and this has been impacting negatively on the price level of other commodities as well. Dishonest traders sometimes take the chance of incidents that have nothing to do with the price hike. Profiteer syndicates often create an artificial crisis of essential items to increase prices and multiply profit. Most middlemen claim excessive profit at times and this also increases prices of essentials irrationally. Unscrupulous traders exploit the open market system for narrow personal gains and, as a result, millions of consumers suffer. As if nobody is there to check the greed of a section of unruly businessmen.

One of the reasons of the spiraling prices is the absence of a proper mechanism or a plan to regulate prices of essential food items. The government should formulate a policy at the national level to keep a balance between the supply and demand of food.

The ministry of commerce and the ministry of agriculture have under their control a number of organisations that can monitor and research on the market condition of the essential commodities. On their advice, the government can hold discussions with relevant traders on issues of supply and price of any essential or sensitive item, well ahead of a crisis in the market. Shopkeepers and traders must be ordered to put price lists of essential commodities. Black marketers and hoarders must be dealt with sternly. Much food should not be wasted in parties and marriages. Every step must be taken to check the rise in prices.