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Major celebrations don't justify price hike: In Christmas prices go down in Western countries

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07th-Apr-2019       
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The prices of meat, chickens, ducks and hilsa rose in the city's kitchen markets at the weekend on Friday, while the prices of other essentials remained stable. Price of hilsa has shot up across the country, including the capital, due to its high demand for Pahela Baishakh celebration.
Demand for hilsa increases as a large number of people consider the fish as a main part of dishes for the Bengali New Year celebration every year. Eating the fish with water-soaked rice (Panta-bhat) has been an integral part of the New Year celebrations for ages. However, a pair of hilsa, weighing around 700gms was selling at Tk 1400, while that of one kilogram was selling at Tk 1200 per piece.
It is an unfortunate reality that the prices of essential food items start escalating in line with major celebration events in our nation -- especially events like Baishakh and Ramadan. No economic theory can explain why that should be so when there is never a dearth of goods in the market, on the contrary there is always a glut. And unfortunately, every time the prices go up, pegging on the religious and cultural festivals, they hardly ever drop, and go up again the following year. In Western countries, on the other, prices go as competition for attracting larger sale.
Prices have little to do with the market forces but everything to do with the greed of certain section of the traders who exploit these special event months without any conscience for the havoc they bear on the ordinary people. This type of business exploitation is unconscionable and must be stopped. 

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