Concern over soaring rice price

RICE prices are soaring in the market all over the country as news report said following the devastating flashflood, which has washed away Boro crops from the field of several northeastern districts about two weeks ahead of harvesting begins. Haors of Sylhet, Sunamgonj, Habigonj, Kishoregonj and Netrokuna have become severely affected by gushing floodwater that destroyed crops and also fish stocks, birds and livestock as aftermath of the flood rendering the Haor people to the brink. Meanwhile fresh flood has hit Mymensingh and Rangpur districts this week spreading fear that the impact of flood may be quite severe and also longer unless special measures were taken to supply rice to people at low cost.

Meanwhile price of fine quality rice recorded a rise of at least Tk 10 per Kg in Dhaka market and traders are spreading fear that the supply crunch may continue until the next Boro harvest. Price of any category of rice has increased by Tk 5 to 7 per Kg over the past one-week as consumers helplessly look on. Estimates suggest about 1,40,000 heaters of land lost Boro crop in northern Haors out of total cultivation of 48 lakh hectares of land throughout the country this year.

It appears to be around 10 percent; which is no less an area in terms of crops loss but the price impact is already spreading all over when the losers – the farmers of the flood affected Haors – are still almost unattended. Scanty relief is not enough to support their life while rehabilitation of many is a far cry.

Looking at the rice marketing chain, one can easily say that traders and millers are using flood as immediate reason for price hike destabilizing the market; which is not acceptable looking at the huge additional cost burden on consumers. Market sources say millers have enough stock that they can put to market but they are more greedy to make fortune instead of using their stock to keep the market stable.

But one can easily visualize that this year is going to be a very difficult year for people as the food grains supply syndicates are already at work to exploit the situation. The government has enough stock and moreover planning for local procurement and imports to beef up its stock. But as it is known to all that the OMS (Open Market Sale) will not have enough outreach and many will not find it easy to stand in long queue to collect rice at low cost.

Moreover stealing and grabbing of OMS rice and other stock for sale to the poor at low cost (Tk 10 to 15 per Kg) by dealers and party men as such reports galore in the media is not good hope for many to an easy life. We suggest that the government should monitor the market and sternly deal with people trying to exploit the people.