Gap in wholesale, retail prices unusual, says FBCCI chief

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Annisul Huq yesterday asked the administration to remove the unusual gap in prices of essentials between wholesale and kitchen markets in the city.
Annisul, who visited different city markets yesterday, stressed the need for regular monitoring of the kitchen markets by government agencies to keep the prices stable and within the buying capacity of commoners.
“It is not possible for the FBCCI or the media to monitor the prices of essentials regularly. Only the government has such mechanism to carry on regular monitoring,” he told reporters after visiting kitchen markets in Gulshan-2 and Mohammadpur.
Annisul said a number of commodities are selling at Karwan Bazar at 20-25 percent higher prices than those at Shyambazar in Old Dhaka. He said the prices of essential commodities in retail markets might remain unchanged compared with last week’s prices.
The retailers charge customers 20-25 percent more than the wholesale prices but the profit margin should be around 10-15 percent, he observed.
Asked about prices of soya bean oil, the FBCCI president said the edible oil price has reduced by Tk 20 and is selling between Tk 85 and Tk 87 per kg.
He said the business body would meet importers of soya bean by Sunday to keep food prices within the buying capacity of middle income group.
During the visit, the FBCCI president sought vouchers from retailers. But the traders said that wholesalers of Karwan Bazar did not give them any receipt.