In recent months, the prices of essential commodities like onions, potatoes, and edible oil have seen a sharp rise in Bangladesh. Despite government-imposed price controls, traders continue to sell at inflated rates, ignoring official directives. On Friday, retail markets in Dhaka revealed that new potatoes were being sold at BDT 90-100 per kg, while older varieties cost BDT 70-80 per kg. Allegedly, a manipulative syndicate has been driving up potato prices, even as the government reduced import tariffs from 25% to 15% and facilitated imports to stabilize the market.

Imported potatoes, which cost BDT 21-30.6 per kg at the source, should ideally be sold to consumers at BDT 30-35 after accounting for transport and profit margins. However, retail prices remain exorbitant at BDT 75 per kg, reportedly due to collusion among importers and wholesalers in Dhaka’s Shyambazar.

The former president of the Consumers Association of Bangladesh (CAB), Golam Rahman, criticized traders for holding consumers hostage and flouting government regulations. He noted that enforcement agencies appear powerless against unscrupulous traders, leaving consumers without relief.

In the retail markets, domestic onions were sold at BDT 115-120 per kg, hybrid onions at BDT 110-115, and imported Indian onions at BDT 98-100. Other vegetables, such as eggplants, bitter gourds, and tomatoes, were priced between BDT 60-140 per kg, adding to consumers’ financial strain.

A shopper at Nayabazar expressed frustration over soaring prices and the inefficacy of monitoring authorities. Meanwhile, edible oil prices showed a slight dip, with loose soybean oil selling at BDT 165-168 per liter and palm oil at BDT 157-159. Despite measures like VAT reductions, edible oil supply fluctuations continue, and bottled soybean oil remains limited in availability.

The Directorate of National Consumer Rights Protection insists that market monitoring is ongoing, with daily inspections and penalties for violations. Officials warn that businesses found guilty of irregularities may face closure in addition to fines.