Currently, the most uncomfortable place in the country is the market. The fire that has started in the market has no sign of stopping, rather it is increasing every day. Whether it is the poor, whether it is the lower class, whether it is the
middle class, a sigh of relief for everyone is the rise in commodity prices. Whatever market one goes to, whatever product one looks at, the prices of everything are skyrocketing and unbearable. It is true that the global supply chain has been disrupted due to the coronavirus pandemic and subsequent geopolitical conflict, and inflation has become largely inevitable.
In this world economic reality, more or less inflation has occurred in all countries in recent times. However, in the last six months, the rate of inflation has decreased in many countries of the world. Economically distressed countries like Sri Lanka have also brought inflation under control. The exception is Bangladesh, where inflation has not decreased, on the contrary, it is continuously increasing. Inflation has become a national problem in the country. The prices of daily necessities are constantly increasing. Retail prices of rice, pulses, oil, gas, sugar, spices, and vegetables are increasing by leaps and bounds. The market cannot be controlled even by fixing the price.
The functioning of a market economy depends on the ability of market demand-supply regulators to operate freely, naturally and without influence. However non-market factors often negatively affect normal market processes. One of the most powerful of these off-market elements is syndication.
Traders set higher prices by keeping higher profit margins or create artificial crises through market manipulation to increase the prices of goods in the hope of making more profits. This market manipulation is at the root of the main discomfort of the market in Bangladesh. Especially Bangladeshi businessmen always have an upper hand, which is called 'excuses'. They always increase the price in the market by making some excuses. Bangladesh Bank's recent financial report has pointed out that syndication is behind inflation in the market.
The fire of the market is directly affecting the poor and marginalized people. The common poor are being severely affected by the continuous price hike. A kind of silent moaning and silent imperfection all around. One thing they say, we have no way to survive. Everything is going up in price. There is no way for the poor to survive.
From university teachers to students, rickshaw pullers to tea sellers, vegetable sellers to grocers, and fruit to chicken or fish sellers, they all have one thing in common, the situation is not good. Buyers and sellers are all very uncomfortable with the product price. Some are going back without hearing the price, some are buying less. Many on fixed incomes have cut down on consumption. Many have forgotten the taste of meat. Not being able to buy fish, we have to rely on potatoes and pulses. But when the price of potatoes increases, it is difficult to even buy food.
Many people continue to borrow money somehow. Many are standing in long queues with bags on the back of the truck, forgetting the shame of finding a way to survive. To cope with the effects of this market war, many are having to compromise on the nutritious food they buy for their children, compromising on the quantity and quality of food. It is very important to find a way to peace before people burn to death. -Editor