Commerce ministry to share commodity prices on website daily

The commerce ministry will start sharing the market-based retail and wholesale prices of essential commodities on its website from the first week of March so the consumers can buy the goods at reasonable prices.

Under a price discovery method, different ministries like food, agricultural, fisheries and livestock will supply a price chart to the commerce ministry every day and the commerce ministry will review these prices of different markets.

If the commerce ministry thinks the price of any essential commodity is high in any market, then it will fix the price of the item and share the price on its website, said a senior official of the commerce ministry seeking anonymity.

Otherwise, it will not fix or change the price of any item, the official said.

Majority of the essential commodities under the price discovery method are rice, flour, edible oil and some spice items.

The official shared the information after a task force meeting of the commerce ministry held at the ministry in Dhaka chaired by State Minister for Commerce Ahsanul Islam Titu.

The commerce ministry is empowered under the essential commodities act to fix the prices of essential commodities if it notices that the prices are high, the official said.

Replying to a query by The Daily Star, Senior Commerce Secretary Tapan Kanti Ghosh said through a WhatsApp message that the commerce ministry has not taken any decision yesterday to fix the prices of 17 essential commodity.