Commerce Adviser Sheikh Bashir Uddin inaugurated the nationwide selling programme of goods by the TCB. Photo: PID

DHAKA, Jan 8, 2025 (BSS) - Commerce Adviser Sheikh Bashir Uddin today said there is no reason for price hike in the market as the country currently has no scarcity of rice.

"There is no shortage of rice supply in the market ...no scarcity in our own stock, even no scarcity in local production, so there is no valid reason to increase the price of rice," he said.

The adviser made these comments while inaugurating the nationwide selling programme of goods by the Trading Corporation of Bangladesh (TCB) among smart family cardholders at Dipikarmor of Bagunbari here this morning.

The harvest of Aman paddy has been completed recently ...So, at this moment there is no reason for price hike, the adviser added, "We are trying to find out the cause behind the price hike. Hike in the price of rice is not logical right now."

"We are hopeful that rice prices will come down within a few days," he told the function.

On behalf of the government to arrest price hikes, the commerce adviser said the commerce ministry can apply a process of import liberalization that has been imposed on potato prices; as a result, the price of potatoes has declined drastically.

The adviser blamed sudden hoarding of rice by some fraudulent traders for the price hike of the food grain in the market.

He said, "We are now undertaking import-oriented measures to further improve supply chain in the markers as the trade liberalization process is now underway."

A meeting has already been held between the central bank governor and TCB chairman Brigadier General Md Mostafa Iqbal aiming to curb the commodity price at the local markets.

TCB officials, among others, attended the meeting.