Bangladesh: Government will stock essentials to prevent Ramadan price fluctuations

The government of Bangladesh plans to import or buy locally key essential items to face any crisis or price spiral in future, particularly during the month of Ramadan. A buffer stock of such products will be built up to offset any shortages. The items include sugar, edible oil, onion, lentils, dates, etc.

The Trading Corporation of Bangladesh will import essential goods -or procure them locally- to help keep the commodity market stable in future especially during the month of Ramadan, a Commerce Ministry source said.

The TCB sells essential commodities at subsidized rates to keep the commodity market stable. The prices of commodities may go up in the domestic and international markets. So, the government is prepared to successfully intervene in the market in the coming days.

The government's agency concerned will closely monitor and watch the supply and price movements so that manipulators cannot create any artificial crisis in the kitchen market. Usually, the general public suffers a lot due to an unusual hike in the prices of key essential items during Ramadan and Eid-ul-Azha.

According to salaamgateway.com¸ the government has already approved purchase of 0.15 million tons of onion through TCB. The agency has imported 80,000 tons of onions and it would collect more or less 50,000 tons of onions from local sources, if necessary. Presently, the TCB has a stock of 25,000- 30,000 tons of onions.

 

Photo source: Dreamstime.com


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