File Photo

DHAKA, Oct 23, 2024 (BSS) - Due to the steps taken by the interim government, the prices of essential commodities, including egg, fish, broiler chicken, atta (flour), beef, powder milk, sugar, tomato and green chili have come down and those are now lower than last year's prices.

In view of the recent trend of price hike, the interim government has taken several steps, including reduction of import duty, value added tax (VAT) exemption, strengthening market monitoring activities, open market sale (OMS) and increasing the volume of sales under the state-run Trading Corporation of Bangladesh (TCB).

Traders said the steps of the government have increased the supply of essential commodities, including egg, edible oil and sugar, in the market and this is helping in keeping the prices of daily necessities within the purchasing power of the common people.

Market experts welcomed the initiatives of the government and opined that the government should continue its monitoring activities to ensure more comfort to the people. 

According to traders, the price of green chili is now around Tk 250 per kilogram (kg) which was over Tk 400 at the same period of the last year.

According to the available data of TCB, the price of lentils reduced by 8.16 percent on Tuesday (October 22) compared to the same day of previous year. 

The price of lentils decreased to Tk 115 a kilogram on Tuesday from Tk 120 a kilogram on the same day of the previous year.

The price of atta is now Tk 42 per kg which was Tk 45 last year while per kg beef price is now Tk 750 which was Tk 780.

The price of powder milk (Dano) is now Tk 820 per kg which was Tk 840 the last year while powder milk (fresh) is now Tk 775 per kg which was Tk 790 last year.

 Sugar price also reduced to Tk 128 per kg on Tuesday which was Tk 135 at the same day of last year. 

Talking to BSS, Director General of the Department of Agricultural Marketing Md Masud Karim said despite different natural calamities, including recent massive flood in 13 districts of the country, the prices of essentials are coming down gradually following the government steps.
 
"Vegetable production is now low due to off season and recent floods damaged many vegetable farmlands in 13 districts. To ensure affordable prices for the lower and lower-middle-income people, the government has already taken several steps," he added. 

Vegetable traders informed that the prices of vegetables at the retail level have reduced by Tk 50 to 60 per kg at different markets in the capital in this week compared to the last week.

Market analysts and economists mentioned that the VAT withdrawal and duty cuts have increased the supply of essentials in the market and ensured affordable prices of the essentials.
 
The 30 percent regulatory duty on refined and unrefined sugar has been reduced to 15 percent, they mentioned.

They said that the National Board of Revenue (NBR) has withdrawn the 15 percent VAT levied on local production of crude and refined soybean oil, palm oil, and other edible oils.

Besides, the 5 percent VAT levied on the import of edible oils have also been withdrawn, they added.

They mentioned that the NBR also cut import duty on eggs from existing 25 percent to 5 percent.

In addition, the import duty on the import of the oils has been reduced by 5 percent to 10 percent, they informed.

If the government takes more initiatives, they opined, the country's lower and lower-middle-income people will enjoy more comfort in their daily life.

Due to the government steps, Abu Sufian, a Dhaka city dweller, said that he bought a dozen of farm eggs from Khilgaon Taltola Market for Tk 150 which was Tk 180 a week ago.  

He urged the government to strengthen its monitoring activities to ensure that the sales actually take place at the government-set prices.

At a recent meeting, Adviser to the Ministries of Finance and Commerce Dr Salehuddin Ahmed said the government is selling agricultural products at affordable prices under OMS programme at different areas in the city.

Initially, the government has started selling the products at 20 places in the capital through trucks.

The places are - Khadya (food) Bhaban, Manik Mia Avenue, Mirpur-10, Basabo, Basila, Rayer Bazar, Rajarbagh, Mugda-North, Mugda-South, Palashi Mor, Hazaribagh, Mohammadpur, Gabtali, Mohakhali Bus Stand, Begunbari, Uttarkhan, Dakshin Khan, Kamrangirchar, Rampura and Zigatola.

Under the programme, per kilogram potato is being sold at Taka 30, per dozen of egg Taka 130, per kilogram of onion Taka 70 and green vegetables are being sold under different packages.

Salehuddin, however, said TCB, Department of Agricultural Marketing and some other private agencies are selling daily commodities at fair prices. 

He informed that the government has further increased the volume of sales under TCB.