Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, December 16, 2017 05:08:17 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter
BREAKING NEWS:

Food inflation must be held in check

By
18th-May-2017       
Comments
Share your thought
Post a comment »
Read all () »

MEDIA reports on Wednesday said food inflation almost doubled in March, spurred by rising prices of essentials including rice affecting the poor and fixed-income groups in cities and rural areas. The single rice item is now taking away the bigger part of a family budget as the prices are spiraling in post flood situation.

In city market places the impact is highly visible as prices of rice soared between Tk 5 to Tk 8 on per Kg rice in recent weeks. The situation is poised to further aggravate, as the holy month of Ramzan is only a week away when prices of most kitchen items have registered sharp rise at all places. It must be held in check.

Report said in March, food inflation stood at 6.89 percent, up from 3.89 percent from a year earlier and 6.84 percent from February, according to data released by the Bangladesh Bureau of Statistics (BBS) on Tuesday. But the real market picture is much critical for ordinary consumers. Ministers responsible to ensure supply in the market and stop price spiraling are only talking big that no one would be allowed to exploit people.  But the market is working quite differently. Prices of edible oil; sugar, onion, lentils and green vegetables are on rise and staying beyond the reach of common people. Inflation on non-food items is also soaring but it is rice prices hitting buyers the worst. Who will rein in the situation is most conspicuous by their absence from the scene. 

Economists blamed food inflation mainly to shortage of government stock; which now stands 4.90 lakh tones by the end of March and account for 43.7 percent shortfall from a year earlier. Since we have a desperate situation becoming clear with government market intervention capacity sharply limited, private stockiests and retailers are taking advantage charging higher prices. No rice item now sells in the city market below Tk 35 per Kg while improved quality rice sells at Tk 50 and above. The rising food price is noticeable all over the country.
 
Markets blamed higher tariff on rice import; which is now 25 percent from 2017-18 up from 10 percent earlier for poor stock. But the question is why the government has not procured enough stock and now waiting arrival of new imports to beef up the stock. But the critical fact is that once hoarders and retailers could realize that the government intervention capacity is quite at low, they start recklessly exploiting the situation. Barring the controversy whether or not the flood and blasts have destroyed 7.50 lakhs tonnes crops the fact is that it has created the vulnerability in which dishonest traders are free to exploit the situation. 
 
Our point is that it is not a matter of debate how flood has created the vulnerable situation, the issue is what is the government preparedness is there to tackle the post flood situation and ensure supply at fair cost during Ramzan. The situation is not much hopeful anyway.  


Tariff
Add Rate

News Archive

Inside The New Nation

International »

Trump promises `giant tax cut` as `Christmas gift` to Americans


PTI, Washington :US President Donald Trump today said the Congress has reached an agreement on tax legislation that will deliver more jobs, higher wages, and "massive tax relief" for American families and domestic companies.Trump recognised the tax reform as a campaign promise during his run-up to the 2016 presidential election, ...

Editorial »

Muslim leaders must continue to act together not to be ignored


WE welcome the OIC's (Organisation of Islamic Cooperation) decision declaring East Jerusalem as capital of Palestine at a summit at Istanbul on Wednesday as the most appropriate and timely action to denounce US President Donald Trump's unilateral declaration that Jerusalem is the capital of the state of Israel. Their call ...

Football »

Players of A Level team, the champions of the Inter-Class Victory Day Football Competition of Manarat Dhaka International School & College with the teachers of Manarat Dhaka International School & College pose for a photo session at Manarat College field on Thursday.


Entertainment »

Meryl Streep is the most Golden Globe-nominated actor


Meryl Streep has begun her Hollywood award season dominance by bagging her 31st Golden Globe nomination, which is a record in the 75-year history of the award show. Streep won the nomination in the best actress, drama category for her portrayal of the Washington Post publisher Kay Graham in Steven ...

Entertainment »

Porimoni, Zayed Khan`s Antorjwala releases today


Entertainment Report :Today across the country in 175 cinema halls Malek Afsari directed and Porimoni-Zayed Khan acted much awaited movie Antorjwala is set to be released. On the occasion its releasing Pori and Zayed will enjoy the movie along with director Malek Afsari in Dhaka’s Modhumita, Shyamoli and Sony halls.While ...

City »

Speaker Dr Shirin Sharmin Chowdhury handing over ICT Award to Director General of Health Department Prof Dr Abul Kalam Azad for his contribution in using digital technology in health services at Bangabandhu International Conference Center in the city on Tuesday.


Weekend Plus »

Quick recipes for the burger-lover in you


Weekend Plus Desk :If you are a burger lover or want to fix a burger quickly for uninvited guests, here are a few recipes which can save the day. Recipes by Chef Gaurav Chadha, in-house chef, Dr Oetker India Pvt Ltd:* Chicken and egg burger: Heat oil in a kadhai ...

Editorial »

Attack on New York City is disgusting


AN attempted terrorist attack in a New York City bus terminal by a US national of Bangladesh origin has caused widespread surprise and condemnation here and also in the Bangladesh community in the USA. The person Akayed Ullah at his 27 is a taxi driver in New York City and ...

International »

US embassy unlikely to move to Jerusalem before 2020: Tillerson


Xinhua, Washington :U.S. Secretary of State Rex Tillerson said Tuesday the U.S. embassy in Israel was unlikely to be moved to Jerusalem before 2020, national media outlets reported."It's not going to be anything that happens right away," U.S. news daily the New York Times quoted Tillerson's speech at the State ...

Football »

Crystal Palace's James McArthur (centre) celebrates scoring his side's second goal of the game with team-mates during the English Premier League match between Crystal Palace versus Watford at Selhurst Park, London on Tuesday.


Sports »

A scene from the SA Group Premier Division Chess League at the Auditorium of the National Sports Council Tower on Wednesday.


Entertainment »

Akshay shares the new poster of PadMan while giving the hint about trailer


Akshay Kumar is gearing up for his next release PadMan which is all set to release on Republic Day, 26th January 2018. Recently Akshay is on spree of releasing new posters of the films. A day before yesterday Akshay shared a poster of the film in which he can be ...

City »

DU VC Prof Aktaruzzaman speaking at a seminar on' Mass Media Vs Social Media at TSC organised by the Dhaka University Journalists Association on Wednesday .


Editorial »

Colleges without enrolment should cease to exist


OVER 1,500 colleges are in fear of closure as they have failed to fulfil the condition of the Education Ministry in terms of students' admission at Higher Secondary level, The concern is genuine because opening of new colleges and also their closure is not small thing, as it impacts lives ...

Cricket »

A good number of spectators arrived at the Sher-e-Bangla National Cricket Stadium to watch the final match of the AKS Bangladesh Premier League (BPL) Twenty20 Cricket between Rangpur Riders and Dhaka Dynamites at the Sher-e-Bangla National Cricket Stadium in the city's Mirpur on Tuesday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news