Prime Minister Sheikh Hasina has warned against price gouging, threatening to put in jail traders found hoarding products, especially rice, in mobile court drives. 

Speaking to journalists before an emergency meeting of the Awami League at the Ganabhaban on Monday, she admitted prices have increased, but added a sudden hike after the party’s election victory is abnormal and suspicious. 

“After an election participated by the people, there are attempts to create confusion. What surprises me the most is that prices of rice and other products have jumped suddenly.” 

The ruling party chief said she always emphasises a production boost to control inflation that increased across the world because of sanctions and counter-sanctions following the Russia-Ukraine war after the coronavirus pandemic.  

Bangladesh, with a 170 million-strong population, has a shortage of wheat, sugar, cooking oil and gas. “These are high priced products because we need to import them. Shipping costs have also increased, leading to inflation,” the prime minister said. 

“This is why we need to increase production. Our harvest was good this time, rice production increased. Even after this, a price hike during the rice season is abnormal. 

“We must find out who are behind this [abnormal price rise] and take immediate action against them. And we’ll do it.” 

The prime minister added that stocking up on goods to sell is nothing unusual, but if someone resorts to hoarding for profiteering they will face action by mobile courts. 

“If necessary, they will be jailed. That’s what we’ll do. We must strike them,” she said, recalling recent abnormal hikes in prices of eggs and onions. 

“What kind of behaviour is this? Using food for profiteering is meaningless.” 

Hasina pointed out that although consumers suffer becasue of price rises, farmers are happy as they make profits. 

“But still, the price of a product is much more than what it should be, including the transport cost,” she said.