Prices of 10 daily necessities double as they reach the retail market from farmers: CPD study

The prices of daily necessities are increasing abnormally as they pass through multiple stages to reach the consumer's plate from the farmer's field. Due to the excessive profit trend of middlemen, millers, wholesalers and retailers and extortion in the transportation system, the prices of at least 10 daily necessities in the country are sometimes more than double compared to the farmer level. This information has emerged in a study conducted by the private research organization 'Center for Policy Dialogue' (CPD). The organization released these sensational data after reviewing 810 markets of the country in a dialogue in the capital on Thursday.

The CPD study says that there are differences in the level of market-based price increase by product. In the case of rice, the price increases the most at the miller level (about 18 taka per kg), as a result of which the average price of rice almost doubles when it reaches the consumer level. Similarly, in the case of pulses and green chillies, city grocers and retailers in the brinjal and potato markets make the most profit. In addition, among other products, the price increase is 116 percent for green chillies, 87 percent for onions, 78 percent for lentils, 72 percent for brinjals, 50 percent for potatoes and 25 percent for eggs.

In the dialogue, CPD Executive Director Dr. Fahmida Khatun and other economists said that due to the lack of adequate monitoring and transparency in the market, unfair profits are being made at every level of the supply chain. As a result, farmers are being deprived of the fair price of their products, while consumers are also having to pay extra. The study has mentioned that especially in the fish market, wholesalers in the case of eggs and chicken, and traders in the case of beef are playing a major role in increasing prices.

Speaking as the chief guest at the event, Commerce Minister Khandaker Abdul Muktadir admitted that extortion and high logistics costs in the transportation of agricultural products are contributing to the country's inflation. He said that while the average logistics cost of the global GDP is 10 percent, in Bangladesh it is about 16 percent, which is important to reduce. In addition, in the dialogue, Consumers Association of Bangladesh (CAB) President AHM Shafiquzzaman said that sometimes the price of goods increases by about 30 percent due to invisible extortion in transportation. However, the Commerce Minister said that the government is taking various steps to regulate the market and improve the supply system.