Tuesday | 14 January 2025 | Reg No- 06
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Tuesday | 14 January 2025 | Epaper

The ‘Ghost Habit’ of essential commodities

Published : Friday, 13 December, 2024 at 12:00 AM  Count : 344
Nafew Sajed Joy
In a time when both the interim government and the public are grappling with rising prices of essential goods, a new drama has emerged: the sudden disappearance of bottled oil from the market. Picture this: you're on a battlefield, your soldiers are indispensable, yet they begin vanishing before your eyes. At this moment, you must negotiate with your commanders to bring them back, and inevitably, any compromise serves the soldiers' interests. This metaphor aptly describes the vanishing act of bottled oil from the market-a ploy that reflects deeper issues in our economic system.  

Despite the government's efforts to stabilize the market and make goods accessible, the oil market has turned volatile. This tactic of creating artificial shortages is far from new. In fact, it has become a recurring method to exert pressure and justify price hikes. Unfortunately, the government's ability to intervene effectively is often limited, leaving consumers at the mercy of syndicates and market manipulators.  

The phenomenon of essential goods disappearing is not an isolated occurrence. History offers several examples. In October 2020, following a directive from the KapasiaUpazila administration to sell potatoes at a fixed price of 30 BDT per kilogram, potatoes mysteriously vanished from markets. Two years later, in October 2022, sugar suffered a similar fate. The trend continued in December 2023, when onions became scarce. One of the more curious cases unfolded in March 2024 in Jhalokati, where chickens vanished after price controls were imposed. While chickens might theoretically walk away, the same cannot be said for eggs, which disappeared later that year in October. During the Rabi crop season, fertilizers joined this peculiar exodus. These instances form a pattern: whenever price controls are introduced, shortages are artificially created, pushing consumers into a corner.  

This "Ghost Habit" of goods disappearing is not unique to Bangladesh. Similar practices are observed in neighboring countries like India and Pakistan, revealing a regional trend of market manipulation under the guise of economic adjustment. 



What's particularly frustrating is that these vanishing goods inevitably reappear-but only after a price hike. The recent case of bottled oil illustrates this. Dealers increased supplies after the government announced a new price. On December 10, the price for soybean oil was 167 BDT per liter, while a 5-liter bottle was 818 BDT. Starting December 11, the price was set to rise to 175 BDT per liter. This confirms the oil was never truly absent; it simply didn't reach consumers, underscoring the influence of syndicates. These entities hold the supply chain hostage, forcing consumers to bear the brunt of higher prices.  
Unfortunately, this issue extends beyond oil. Syndicates operate across various sectors, creating artificial shortages that disproportionately affect working-class families. Whenever an effort is made to regulate prices or ensure affordability, these groups manipulate supply chains to create scarcity. The resolution? Predictably, a price hike.  

To break free from this cycle, it's time to embrace digital innovation. A national database and digital warehouse management system could revolutionize how we monitor and regulate supply chains. By tracking every imported product and storing data centrally, the government could stay updated on who holds what and in what quantities. This transparency would make it possible to identify and address discrepancies immediately. Furthermore, tracking systems would ensure that goods move smoothly from supplier to consumer, leaving little room for manipulation.  

The need for such reforms is urgent. Market manipulation not only erodes public trust but also exacerbates inequality, as the poorest are hit hardest. Digital technology offers a tangible solution to these challenges, enabling accountability and ensuring that essential commodities remain accessible to all.  

By addressing the roots of the "Ghost Habit" and taking decisive action, we can build a fairer, more transparent market system-one where consumers are no longer held hostage by syndicates and price manipulation. The question now is: will we take the steps necessary to end this cycle?  

The writer is a researcher



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