Punish egg price manipulators: FBCCI

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the government to take punitive measures against the egg price manipulators.

The apex trade body made the call in a meeting with the egg producers and the high officials of the Directorate of National Consumers Right Protection (DNCRP), at the FBCCI office in Dhaka today.

Egg prices rose by nearly Tk 3 a piece overnight, but it fell right after the drive of the government agencies, which meant that some sort of manipulation took place there, FBCCI President Md Jashim Uddin said at the meeting.

Hence, he urged the DNCRP to find whether there is anyone involved in the egg price manipulation and punish the culprits.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu raised questions on business ethics of the egg price manipulators.

Taher Ahmed Siddiqui, president of Bangladesh Egg Producers' Association, said: "We produce eggs, but we cannot determine its price. Egg traders of Dhaka's Tejgaon set the prices. We are helpless here."

The Tejgaon businesses rose egg prices at an unprecedented rate recently, which created the crisis, he said.

It is clear that manipulation took place in the egg market and the manipulators have deprived the whole business society, said AHM Shafiquzzaman, director general of DNCRP.

Egg prices fell by Tk 30 to 35 a dozen just after a 3-day drive, which clearly indicates that a third party has taken benefit of the situation, he said.

The DG warned that his office will soon sue the unscrupulous traders involved in the egg price hike.