The government announced a maximum retail price of Tk 36 per kilogram for potatoes, Tk 12 per egg (Tk 144 per dozen), and Tk 65 per kilogram for locally grown onions. This announcement reduced soybean and palm oil prices by Tk 4.0-5.0 per litre. Branded bottle soybean oil was set at Tk 169 per litre, non-brand soybean at Tk 149, and palm oil at Tk 124 per litre on the same day. Non-brand sugar remained stubbornly high, ranging from Tk 140 to 145 per kilogram. Egg and onion prices were still above the government-fixed rates, selling at Tk 12.5-12.7 per piece (Tk 150-152 per dozen) and Tk 75-80 per kilogram, respectively. Meanwhile, potato prices at retail outlets continued to exceed government rates, with the Diamant variety fetching Tk 48-50 and cardinal at Tk 50-55 per kilogram against the government’s set Tk 36 per kilogram rate.
To address these price issues, 37 teams from the Directorate of National Consumer Rights Protection inspected 52 markets across 35 districts, imposing fines of Tk 0.35 million on 82 companies and individuals for alleged price manipulations. The Consumers Association of Bangladesh (CAB) Secretary highlighted that traders were responsible for the surging potato prices. The Commerce Ministry has taken steps to gather data on potato stocks held by traders in cold storage. Moreover, the consumer rights directorate and the Bangladesh Competition Commission (BCC) have filed multiple cases against leading companies for market manipulation between February and September 2022, covering essential items such as eggs, chicken, sugar, flour, and toiletries.
Source for more details:
