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“We provide protection for our country’s mills and factories so they proliferate, but now they are taking advantage of us,” he said
Published : 18 Jan 2024, 07:57 PM
Wholesale traders have blamed large mill owners and corporate companies for the sudden rise in rice prices, and have asked the government to open up import opportunities.
The government gave facilities to large companies in the hope of getting lower rice prices but this has not panned out, said State Minister for Commerce Ahsanul Islam Titu after hearing comments from traders.
After hearing the traders’ concerns, the state minister for commerce said, “We protected the mills and factories because we wanted them to proliferate. But now they are starting to take advantage of us.”
“We gave them incentives so they could supply us with rice at affordable prices. That’s why we stopped imports. If they do not act with proper business conduct, we will allow imports if necessary. After that, they will survive if they can compete. Otherwise they won’t.”
If there is any attempt to wrest control of the market, the government will take action, Titu said.
The National Directorate of Consumer Rights Protection organised the meeting between the state minister and traders at the Mohammadpur Government Agricultural Products Wholesale Market Traders Association’s office on Thursday.
The meeting was arranged after a sudden jump in rice prices following the election on Jan 7.
Shahidullah, president of the Mohammadpur Government Agricultural Products Wholesale Market Traders Association, said, “Consider the corporates. Go to their warehouses. Millions of sacks are in their warehouses.”
“The way the corporate companies stockpile rice, the entire market is in their hands,” said Mishkadur Rahman, owner of the Asian Rice Agency of the Agriculture Market.
“If we place an order to buy from the millers in the afternoon, they release it at night. If you want to buy from corporate traders you have to buy the DO in advance. The goods arrive 10-15 days later. They use my money to buy rice. I am their hostage.”
The price of rice is higher if it is packaged by corporate companies, he said.
“The price of company branded packets of rice is Tk 85 per kg. I sell at Tk 62. There is a Tk 23 price difference.”
Monirul Islam Montu, the general secretary of the association, said millers had warned him before the election that prices would rise afterwards and they jumped several taka afterwards.
Older orders were cancelled when the price jumped, he said.
“In the meantime, we ran out of rice. We were in trouble. We were blamed for stockpiling rice. But we don’t do that.”
He urged the government to open up imports.
“LCs should be opened, then the market price will drop. Big or small, we will import.”
