The state-run Trading Corporation of Bangladesh (TCB) yesterday started sales of basic commodities in the capital with an insufficient supply, which may not be able to have a positive impact on the prices of essentials during Ramadan.Retailers in city markets said the limited supply would not meet the demand of the consumers. They also complained of a small profit margin for selling these essentials at retail level.
Initially, the TCB started selling 1,000 litres of edible oil and 1,000 kilograms of sugar to each dealer from its warehouses for selling those at fair prices during the month of fasting.
Dealers had to buy edible oil at Tk 73 per litre against the market price of Tk 78 and sugar at Tk 37 against the market price of Tk 43.
Commerce Minister Faruk Khan inaugurated the sales operation at a warehouse in the city's Tejgaon industrial area.
The TCB started the sales operation from its stock of 3,56,136 litres of edible oil and 1,000 tonnes of sugar as the imported goods are yet to arrive from Thailand and Malaysia.
Officials said it would start countrywide sales after the arrival of 25,000 tonnes each of edible oil and sugar in the next seven days.
Ramadan starts in a day or two.
The TCB will appoint three dealers from each ward in Dhaka metropolitan area, the officials said. "As of Tuesday we received 100 applications for dealership," said a senior official of the TCB.
A total of 41 dealers bought goods from the TCB warehouses as of 5:30pm yesterday, he said.
Inaugurating the programme, Faruk Khan warned of stern action against unscrupulous traders who will want to make a windfall profit during Ramadan when the demand of goods increases.
"We will take stern administrative action against unscrupulous traders if they are found manipulating the market," Faruk said, instructing leaders of different trade bodies to identify dishonest businessmen.
He said the TCB would start opening letters of credit for importing commodities like onion and chickpea after a week.
He claimed that the commodities market is still stable and members of Rapid Action Battalion and police are constantly monitoring markets to ensure stability during Ramadan.
Each dealer had to deposit Tk 15,000 to the TCB as security money and pay Tk 1,10,000 for purchasing 1,000 litres of edible oil and 1,000 kilograms of sugar.
Talking to The Daily Star, a dealer said the quantities of edible oil and sugar are not adequate to meet the demand of the consumers. Moreover, the margin of profit--Tk 3 on each of the two commodities--is not enough, he said.
The government has fixed Tk 40 for one kilogram of sugar and Tk 76 for one litre of edible oil.
"After deducting transport and other costs, the profit will be minimal," the dealer said.
Selling of sugar, edible oil starts at lower rates
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