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Stockpiling of rice, potatoes and onions in Bangladesh
Many Bangladesh traders indiscriminately stockpiled rice, potatoes, and onions to drive up prices even when there was a supply surplus. Sources say that government interventions wholly failed to manage the crisis. These findings of three study teams from Bangladesh Agricultural Research Council were revealed yesterday at a press conference in the capital.
The Agriculture Ministry initiated the market research on October 20 last year following public outcry over the prices. The Ministry formed the three teams to investigate why prices of the three essential food items soared in the market.
The study teams found that 52 percent of farmers sold their Boro paddy within a month of harvesting, and only an insignificant minority (5 percent) sold it more than four months after the harvest.