With Eid-ul-Fitr approaching, the cost of essential commodities, particularly chicken and rice, has surged in the capital's markets, raising concerns among consumers. This trend, observed in various kitchen markets, reflects the broader issue of demand-supply imbalances and market manipulation. While the price of vegetables remains stable, the sharp increase in the prices of chicken, rice, and other staples poses a significant burden on households, especially those with limited incomes.
The price of broiler chicken has risen by Tk 20 per kg within a week, while sonali chicken has become even more expensive. Similarly, Miniket rice prices have increased by Tk 5 to Tk 8 per kg over the past fortnight, with wholesale prices skyrocketing. The price hikes have been attributed to a mismatch in supply and demand, but there is also the undeniable influence of opportunistic market players who take advantage of seasonal demand to raise prices artificially.
The ongoing instability in the rice market over the past four months highlights the pressing need for greater regulation. The price of Miniket rice, which was Tk 3300 per sack (50 kg) at the mill level in December, surged to Tk 4000 in January. Limited stock among a few major millers has exacerbated the situation, allowing them to dictate market rates. Such monopolistic tendencies must be addressed to prevent artificial inflation that disproportionately affects ordinary citizens.
Moreover, the cost of beef has risen to Tk 800 per kg, with mutton and goat meat prices also seeing an increase. In contrast, the price of fish has remained relatively stable, providing some relief to consumers. However, with rising meat prices, people have turned to chicken as a more affordable alternative, only to find its cost increasing as well. This situation highlights the need for timely government intervention to ensure a steady supply and fair pricing of essential proteins.
While vegetable prices have remained largely stable, new seasonal produce like drumsticks and pointed gourd are selling at higher rates. On the other hand, staple vegetables such as potatoes, onions, and tomatoes are relatively cheaper compared to other times of the year, providing some respite for consumers. Egg prices have also remained unchanged, along with various grocery items, which is a positive aspect amid the broader inflationary trend.
The rising costs ahead of Eid emphasize the need for stricter market monitoring and supply chain management. Authorities must take immediate steps to curb price manipulation and ensure fair pricing. Strengthening food reserves, cracking down on hoarding, and increasing imports where necessary are crucial measures to stabilize the market. Consumers deserve relief from undue financial strain, especially during a festive season meant to bring joy and unity. Only through proactive governance and stringent market regulations we can protect the public from the consequences of unchecked price hikes.
