Rice prices edged higher this week, making the government's strict warning to reduce the rice price to go in vain as rice mill owners have not yet implemented authority’s decisions to stable the market.

However, in this situation, operations are being carried out against unscrupulous traders, hoarders, and syndicates.

The Food Ministry formed seven monitoring teams to carry out surveillance and control rice prices.

On the other hand, the government is also thinking of canceling the licenses of the millers who are behind the price hike. At the same time, steps are being taken to blacklist the mill owners for not supplying rice to the government as per the agreement and for illegal stocks.

Moreover, the government is also considering to withdraw 25 percent duty to open up rice imports as the manipulation of the syndicate mill owners did not stop. The unholy syndication of unscrupulous traders is make the rice market volatile.

Visiting the capital’s some major rice markets on Sunday, it was learned that, the price of all varieties of rice in the wholesale market, has gone up to Tk 200 to Tk 300 per sack. General consumers have to procure rice at higher prices, leading to increased sufferings of low-income people.

 In the last one week, the price of all varieties of rice has gone up to Tk 4 to Tk 5 per kg in different parts of the country including Dhaka. The lowest-priced coarse Sorna rice is selling at Tk 50 per kg. The fine Miniket and Nazirshail rice are selling at Tk 72 and Tk 75 per kg respectively in the retail market.

Md Yusuf, a rice trader at Karwan Bazar, told this journalist that the price of rice at the retail level has gone up by Tk 4 to Tk 5 per kg in a week. Especially the coarse rice price is now beyond expectation. Apart from these, based on quality a 50-kg sack Minicat price is now Tk 2800 to Tk 3000. As rice price is still high at the wholesale level, this is impacting the retail level too.

However, market analysts said, “Taking the advantage of season-ending and flood, rice mill owners have increased the rice price which is also impacting the retail market. Rice millers showing the reason for procuring paddy at a high price are also increasing rice price.”

General Secretary of Rice Mill Owners Association KM Layek Ali, said, "Even if we sell rice at a fixed price, when it goes to the wholesale and retail markets, the price will go up further automatically. It should also be monitored. There is a need to increase government’s surveillance everywhere.”  

However, rice mill owners also said, they are willing to sell rice at the government’s fixed price. But for that, they have demanded to reduce the price of paddy and increase its supply.

“Various seasonal traders and others have huge stocks of paddy. These stocks have to be brought to the market. That will reduce the price of paddy. This will enable the rice mill owners to sell rice at the price fixed by the government”, added Layek Ali.