Consumers bearing the brunt of price spirals ahead of Eid

With consumers already feeling the pinch of the soaring prices of essentials, most spices are becoming pricier ahead of the Eid-ul-Azha. Within just a couple of days, the price of cumin has increased by Tk 120 per kg to Tk 940 per kg at the capital’s Karwan Bazar wholesale market. The spice was sold for Tk 380 per kg ahead of the Eid-ul-Azha last year. According to data from the Trading Corporation of Bangladesh (TCB), the price of cinnamon has increased by 10.47 per cent to Tk 500 per kg on average while the price of clove and coriander has soared by 37.78 per cent to Tk 1,600 per kg and 62.96 per cent to Tk 240 per kg respectively.

The prices of garlic and ginger have also gone up. The prices of both local and imported ginger have risen by 177.78 per cent to Tk 400 per kg and 281.25 per cent to Tk 330 per kg respectively on average compared to last year. Retailers at Karwan Bazar sold local garlic for Tk 140 per kg and imported garlic for Tk 180 per kg. A week before the Eid-ul-Azha last year, the figures were Tk 60 and Tk 100 respectively.

Every year before the Eid, businesspeople hike the spice prices and the government fails to control the prices. The price of green chilli has shot up within a week. Retailers were selling green chilli for Tk 250 per kg yesterday, up from Tk 150 – Tk 180 a week ago. CAB at a press conference on Thursday said some businesspeople are defrauding consumers of crores of taka. Though the government organisations concerned are working, their activities are having little impact on the prices of essentials and spices. The consumers are bearing the brunt of the price spirals.
It is the government who is responsible for making the citizens’ life easy and enjoyable during the festival. In democracy, people are the priority of the government, while in autocracy, the government does not bother about people and their festivity.