Finance and commerce adviser Salehuddin Ahmed on Sunday warned that business syndicate would not be tolerated.
He made the remark following a meeting with the country鈥檚 poultry sector businesses at the commerce ministry conference room in the capital Dhaka.
鈥楾here will always be individuals who try to charge higher prices. But engaging in syndicated business practices will not be tolerated,鈥� Salehuddin told reporters.
The adviser said that the current market prices were not entirely disappointing and that efforts were underway to create a more favourable environment for consumers.
Salehuddin said that once prices increased in Bangladesh, they tended not to decrease easily.
He mentioned that price increases should not be seen as permanent and that efforts must be made to bring prices down once the factors causing the increases are addressed.
The adviser stressed the importance of minimising the price gap between producers and retailers, saying that there are underlying trade and commerce issues that need to be addressed.
Regarding the prices of essential commodities, including chicken, Salehuddin said that the Directorate of Agricultural Marketing would now determine the rational prices and the Directorate of National Consumer Rights Protection and the Competition Commission would monitor market activities.
According to the adviser, producers have committed to increasing production, although there are also some marketing inefficiencies that need to be addressed.
Salehuddin expressed hope that the recent reduction in fuel oil prices would lead to lower transportation and related costs, which should be reflected in the prices of products.
Commerce secretary Md Selim Uddin, fisheries and livestock secretary Mahmood Belal Haider, Bangladesh Competition Commission chairman Pradip Ranjan Chakraborty, Bangladesh Trade and Tariff Commission chairman Moinul Khan, DNCRP director general AHM Shafiquzzaman, Department of Livestock Services director general Md Reajul Huq and leaders of the country鈥檚 poultry sector attended the meeting.
