Cropping 1.91 crore tones of borro rice in last season’s
production, farmers helped Bangladesh attain highest yield and self-sufficiency
in staple food. Total rice output was 3.47 crore tones in fiscal 2014-15. Farmers
however, were not satisfied, since market glut from India increased supply and
decreased prices, below production costs. Rice import rose almost 4 times last
year, which led the government to put a 10 pc duty on rice. However, Indians decreased
their own prices. Rice prices although fell, but are affected now due to recent
flooding.
Similarly, price gaps between wholesale and retail are
concerning consumers enough to reduce their demand temporarily. Retailers are making sums of profit due to
flood is hampering supply. Vegetables and chili are retailing 50-100 pc more
than wholesale markets. Chili, Brinjal, pointer Gourd, eddo and clocasia stems
were included in those trading in retail at high prices.
Mostly temporary due to expectations that flood waters will
recede, but these are temporary spikes which do cause the consumer basket to
suffer.
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