October 29, 2024

Bangladesh trade organisation monitors egg and chicken prices to stabilise market amid supply concerns

A team from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), led by administrator Md Hafizur Rahman, conducted a visit to Kaptan Bazar in Dhaka as part of ongoing efforts to stabilise the prices of eggs and chickens in the country and maintain a secure supply chain, The Business Post reported.

The FBCCI's market monitoring cell inspected the kitchen market, gathering updated information on egg prices and current supply levels.

Following the visit, Rahman engaged in discussions with leaders from the Kaptan Bazar Egg Businessmen Multipurpose Cooperatives Association, appealing to both wholesale and retail egg sellers to help keep prices within the reach of the average consumer.

Rahman highlighted FBCCI's commitment to a stable market and encouraged cooperation from local businesses to deter market manipulators. "We want information on those attempting to create artificial supply crises. We will share this information with the government, which will take appropriate actions," he stated.

The FBCCI Administrator also noted that the market monitoring cell is prepared to extend its oversight to the suppliers' level if needed to ensure an uninterrupted chicken and egg supply.

In response, Md Nazrul Islam, former president of the Kaptan Bazar Egg Businessmen Multipurpose Cooperatives Association, pledged the association's support for the FBCCI's market-stabilisation initiatives. He expressed optimism that prices could decrease if items are sold at government-fixed rates and supply matches demand.

The visit was attended by former FBCCI director Khandaker Ruhul Amin, additional business leaders, representatives from the Bangladesh Competition Commission, and student coordinators.

-      The Business Post