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Mill owners’ syndicate destabilizing rice market

WT24 Desk

The rice market in Mymenshing has become volatile again as the price of rice has increased by Tk 20-25 a bag depending on quality, Agencies report.

Low income people have become victim of this price hike and the whole sellers are pointing their finger at mill owners’ syndicate. It has been alleged that mill owner’s syndicate has suddenly hiked the price of rice for some illegal profit gain.

Such scenarios have been found while inspecting the whole-sale rice market on Hizbullah Road of Mechua bazaar in Mymensingh town On Friday (Aug 11).

It is learnt that rice market faced fluctuation in end of March this year followed by big loss of paddy in the haors due to sudden flash flood. That increased rice price but the market became stable after short period of time. However, the fluctuation has returned again.

On spot inspection of the market shows that a 50kg bag of BR-28 and BR-29 rice are being sold at Tk 2200 and Tk 2100 respectively. Price of these two varieties has increased by Tk 20-25 within a week time.

The whole sellers alleged that the mill owners syndicate has increased this price causing serious trouble to the consumers.

One whole seller, Nazrul Islam of Nazrul & Brothers’, told Banglanews the mill owners are using the excuse of increased price of paddy for hiking rice price.

Abdus Salam of Kawsar rice agency made similar allegation to banglanews accusing mill owners syndicate for price hike of rice. They are making extra profit in the meantime, he added.

The price hike at this rate has made low income people very upset. However the price of IRRI rice most suitable for poor men has comedown a little bit.

Grocery trader Sujit Pal told Banglanews that the absence of market supervision by the administration is also responsible for this type of hike. Due to the hike, the Mechua rice market on Hizblullah road was found in an empty condition without customer.

The price of IRRI has comedown to Taka 35 from Tk 38 per kg. On the other hand, better quality rice namely Nazir shail and Miniket are being sold at Tk 52 per kg.

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