Economic Reporter //

The holy month of Ramadan is coming. Every year, the prices of essential commodities in Bangladesh start increasing even before the month of Ramadan and reach their highest level during Ramadan. Although there is currently no supply crisis in the country, some unscrupulous importers and traders increase the prices of essential commodities to make extra profits during Ramadan.

Due to the rise in commodity prices, the pressure on people with limited income increases. Due to the high prices of essential commodities and their going beyond their purchasing power, most families have to struggle to buy essential food items. Due to the lack of regular market monitoring and traders hoping to make unreasonable profits, they hoard goods. They create an artificial crisis in the market.

However, this year the government is already on alert. Dr. Muhammad Yunus, the chief advisor to the interim government, has strictly instructed field-level officials to work to keep commodity prices and supply chains normal during the upcoming Ramadan.

Various law enforcement agencies, including the state-run Trading Corporation of Bangladesh, have made extensive preparations to keep commodity prices normal during the month of Ramadan. As a result, it is expected that the syndicate will be broken this time.

All preparations have been made ahead of the upcoming Ramadan and Eid. As there is sufficient stock of all the related products during Ramadan, the market will be stable this time and the prices of daily necessities will remain low.

The current interim government is importing a large amount of goods from about 30 countries as per demand before Ramadan. It is expected that the prices of daily necessities will decrease this time during the holy month of Ramadan compared to any time in the past.

In this case, Bangladesh has imported a large amount of goods from about 30 countries, including Myanmar, Japan, Pakistan, Afghanistan, China, Saudi Arabia and Turkey. Some goods are also being imported from India. In the meantime, Bangladesh’s economy has started to turn around. The prices of daily necessities have decreased.

The current government is also increasing relations with the Muslim country Turkey in view of the holy month of Ramadan. An agreement has already been signed to import and export military equipment and goods from the country. This year, Bangladeshi businessmen are importing a large amount of fruits from Turkey, focusing on the month of Ramadan.

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