Dhaka, Oct 15 (V7N) — The price of eggs has surged due to an insufficient supply in the market, Finance and Trade Advisor Dr. Salehuddin Ahmed explained during a market inspection on Monday at the Karwan Bazar in Dhaka.

Addressing the press, Dr. Ahmed emphasised that the demand for eggs currently ranges between 450 to 500 million, but supply is falling short, causing prices to rise. "Eggs cannot be manufactured by machines," he remarked, highlighting the challenges in meeting demand.

He issued a stern warning against traders accused of hoarding eggs by keeping their shops closed to create artificial shortages, promising strict action. However, he noted that monitoring the market alone won't resolve the problem if production remains low.

Dr. Ahmed also acknowledged consumer dissatisfaction with the rising prices of essential goods and stated that the government is working to ease their suffering. "We don't want traders to incur losses, but profiteering is unacceptable, particularly when the gap between wholesale and retail prices is abnormal," he added.

The advisor pointed out that rising vegetable prices are another concern, driven by disrupted supply chains caused by floods, ongoing rains, and damage to farms. "When supply falls short of demand, prices rise naturally. However, we are doing our best to stabilise the market," he assured.

Responding to questions about the government’s ability to control prices despite setting official price caps, Dr. Ahmed said, "No country can control prices solely by fixing them. Our focus is to keep the price difference between producers, wholesalers, and consumers reasonable."

When asked whether the government had failed to address rising commodity prices, the trade advisor defended the administration: "It’s unfair to judge a government’s efforts in just two months. What about those who failed over 15 years? Addressing commodity prices is complex, and we need patience. Tackling syndicates will take time, but we are working to prevent such practices."

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