In a rare initiative aimed at stabilising the market ahead of Eid-ul-Adha, Chattogram Deputy Commissioner Mohammad Zahidul Islam Mian has introduced a “festival discount” programme under which traders have reduced prices of various essential commodities.
The initiative was launched on Saturday at Reazuddin Bazar, one of the city’s largest wholesale markets, under the direction of the Chattogram DC.
Speaking at the inauguration, the DC said the programme was introduced with the slogan: “Prices will fall during festivals, joy will rise.”
According to a price list signed by Reazuddin Bazar Traders’ Welfare Association President Mohammad Salamat Ali and General Secretary Md Abdus Shukkur, prices of several spices and daily essentials have been reduced.
Cardamom prices were reduced from Tk4,800 to Tk4,200 per kilogram, cinnamon from Tk600 to Tk520, and cloves from Tk1,600 to between Tk1,350 and Tk1,400.
Raisin prices were cut from Tk980 to Tk720 per kg, ginger from Tk190 to Tk150, and garlic from Tk140 to Tk110.
Onion prices have also been reduced by Tk25 to Tk40 per kg depending on quality, while cumin prices dropped from Tk750 to Tk520.
Market sources said Indian cumin prices were reduced from Tk650 to Tk570, sweet cumin from Tk280 to Tk225, and cardamom from Tk4,600 to Tk4,100 per kg.
Discounts ranging from 5 to 20 per cent are also being offered on cloves, cinnamon, black pepper, nutmeg, chilli, turmeric and coriander.
During the market visit, DC Zahidul Islam inspected shops and warehouses, reviewed stock and import conditions, and monitored price lists.
He also spoke with traders dealing in onions, garlic, ginger and spices to assess the implementation of the discount programme.
Officials said trader leaders agreed to keep prices at a tolerable level for consumers following a series of meetings with the DC.
Traders said they offered discounts considering the hardship faced by ordinary consumers, with some products seeing price cuts of up to 20 per cent.
Speaking to reporters after the inspection, DC Zahid said festivals in Bangladesh often trigger market instability and abnormal price hikes.
“In developed countries, prices usually decrease during festivals. But in our country, some dishonest traders tend to seek excessive profits during such occasions,” he said.
“As a result, low-income and lower middle-class people often struggle to celebrate festivals properly. We want people from all classes to enjoy Eid in a festive atmosphere,” he added.
Praising traders in Chattogram, the DC said businessmen in Khatunganj and Reazuddin Bazar had honoured their commitments by reducing prices of ginger, onion, garlic, chilli and spices by 5 to 30 per cent.
“In some cases, cumin prices have dropped by Tk300 to Tk400 per kilogram,” he said. Calling Chattogram the country’s commercial capital, he added that local traders had once again set an example for the rest of the country through the initiative.
Referring to the recent volatility in the ginger market, the DC said the crisis had been created due to delays in releasing 41 containers stuck at the port.
“With the cooperation of the port authorities, 37 containers have already been released. The remaining containers will also be cleared soon,” he said.
The DC also warned against market manipulation and syndicate activities.
“No one will be allowed to manipulate the market through syndicates. We will not allow anyone to damage public confidence or the country’s image,” he said.
The DC said mobile courts and monitoring teams would continue operating in Chaktai, Khatunganj, Reazuddin Bazar and other markets across the district until Eid.
Local consumers welcomed the initiative, while leaders of the Reazuddin Bazar wholesalers’ association said there was no shortage of goods in the market and that traders remained committed to selling products at fair prices with reasonable profit margins.
