The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) will sit today (Sunday) with the traders to discuss the demand, supply and price situation of the essential commodities during the upcoming holy month of Ramadan.
The apex trade body during its meeting with the retailers, wholesalers, importers, distributors and kitchen markets association leaders will determine the way forward to check price spiral during the month of fasting.
Traditionally, it has become a common phenomenon that prices of most of the essential commodities are increased abnormally during Ramadan by a section of unscrupulous profit monger traders.
To check the galloping price surge during the holy month, the government has taken several measures including uninterrupted supply of commodities in the markets and allowing opening letter of credit (LCs) for importing necessary items to fulfill their growing demand.
During Ramadan, the government increases the number of its monitoring teams as well as intensifies their drives to check abnormal price hike of essential commodities aiming to stabilise the market during the month of fasting which will begin next month.
Talking to the FE, an influential trader at Moulvibazar in the capital said they would not increase the prices of edible oil and other essential commodities this Ramadan if there was no supply disruption and import of sufficient amount of commodities was ensured.
He, however, said that the traders will cooperate with the government to contain price hike during Ramadan considering the woes of the limited income-group people.
President of the FBCCI Md Jashim Uddin will preside over the meeting which will also be attended by its senior vice-president, vice-president and directors.
A director of FBCCI who asked not to be named told the FE that the apex trade body will give some directives to traders not to increase the prices of essential commodities during Ramadan.
It is to be mentioned that before the holy month of Ramadan, every year the FBCCI routinely sits with the traders, importers , suppliers and other stakeholders to review essential commodities' price charts, their supplies and stocks too.
