The much-discussed caretaker government of 1/11 assumed office in January 2007. Immediately after taking office, a strong anti-corruption campaign was intensified nationwide. Many large businessmen went into hiding to escape the crackdown. This disrupted the supply chain of goods. That year, the country experienced two rounds of flooding and Cyclone Sidr, severely affecting the agricultural sector. As a result, the market situation became unstable. Even attempts to import food could not mitigate the situation. Inflation exceeded 12 percent, while food inflation rose to nearly 17 percent. The surge in prices of daily commodities led to growing public outrage. Eventually, the caretaker government led by Fakhruddin Ahmed was compelled to resign after calling for elections.

After a decade and a half, the current situation in the market for daily commodities is reminiscent of that time. Following the fall of the Awami League government in August, an interim government led by Professor Dr. Yunus took charge of the country. Just 12 days after this government assumed power, a devastating flood struck 11 districts in the country's central-eastern region. This resulted in losses of at least BDT 50 billion in the agricultural sector alone, accounting for nearly 36 percent of the total damage. Before recovering from the impact of this flood, Sherpur, Netrokona, Mymensingh, and Jamalpur were again hit by flooding at the beginning of this month. Preliminary estimates indicate that this recent flood caused losses of approximately BDT 11 billion in the agricultural sector alone.

Price instability in the country's daily commodities market has intensified further. The price of coarse rice has risen above BDT 60 per kilogram. The vegetable market has also become heated, with prices for almost all types of vegetables hovering around BDT 100 per kilogram. There is also instability in the markets for flour, eggs, and chicken. The price of hilsa fish has increased, and despite official figures indicating that production exceeds demand, the egg market remains out of control.

In discussions about the rise in commodity prices, issues related to supply shortages have given way to concerns about market management and the influence of syndicates. The government has taken various initiatives to control the market, including duty exemptions on certain goods. However, relief has yet to return to the marketplace. Restoring normal price conditions in the market for daily commodities has become a challenge for the new government. Many market observers see the current situation as a repetition of the period during the 1/11 caretaker government.

A former research director of the Bangladesh Institute of Development Studies (BIDS) believes that supply shortages and uncertainty contribute to market instability. Speaking to Bonik Barta on the condition of anonymity, he stated, "When there is uncertainty, suppliers in the market behave differently. There tends to be an expectation of rising prices. The increase in rice prices is driven by the thought that production may decrease in the future due to flooding. Additionally, a large amount of money is currently in people's hands outside of banks, which has an effect similar to excessive money printing. When people have so much money, it can contribute to market instability."

In August and September 2007, the country experienced two rounds of flooding, followed by Cyclone Sidr in November, which caused significant damage to the aman rice crop. Approximately 1 million hectares of arable land were affected. According to reports published in the media then, the average price of rice was BDT 33 per kilogram at the beginning of 2007, but it rose to BDT 45 in 2008. Although it slightly decreased to BDT 40 per kilogram in 2009, agricultural economists believe that prices should not rise this time due to increased production and sufficient stock. Agricultural economist Dr. Jahangir Alam told Bonik Barta, "This time, over 40 million tons of rice have been produced in the country. Therefore, there is no rice crisis. Both government and private stocks are sufficient. So, prices should not rise. However, suppliers are increasing prices. Action needs to be taken against such manipulation. Despite the change in government, there has been no change in market management."

Many individual entrepreneurs are now among the major suppliers in the country's daily commodities market. These individuals and several businesses have faced various restrictions due to allegations of involvement in irregularities under the previous government, stagnating their business activities.

In this regard, economist Dr. AK Enamul Haque, a professor in the Department of Economics at East West University, told Bonik Barta, "A straightforward method to break the syndicate is to allow imports when there is a shortage of goods. However, taking action against them may lead to instability. During the last caretaker government, many businesses shut down when crackdowns began. If something similar happens now, it will create further instability in the market."

During the 1/11 government, the prices of goods rose due to floods, cyclones, and market mismanagement, leading to increased inflation. In the fiscal year 2006-07, general inflation was 9.39 percent, but it rose to 12.30 percent in the following fiscal year. Last month, the country’s general inflation was 9.92 percent, while food inflation exceeded 11 percent.

Policymakers in the interim government identify syndicates as a major cause of market instability. On Friday (October 11), referring to the recent increase in egg prices, Fisheries and Livestock Advisor Farida Akhtar mentioned that the government is working on this issue, and regular operations are underway in the market. There has already been a slight decrease in wholesale prices, which are expected to stabilize soon.

However, economists believe that the government’s monitoring system has yet to produce effective results. Dr. Muinul Islam, a former professor in the Department of Economics at the University of Chittagong, stated that if syndicates exist in the market, the nation will not be free from artificial shortages. He told Bonik Barta, "The government's market monitoring system is malfunctioning. I have not seen any efforts to break the syndicate, and it does not seem likely that the market will stabilize before winter."

The government has already formed coordinated committees led by district commissioners to control the market. Initiatives for duty exemptions on some daily commodities have also been undertaken, and import permits are being issued. However, the impact of these measures on the market has been minimal. Meanwhile, as conflicts increase in the Middle East, the price of fuel oil in the international market is rising, which observers fear may also affect the domestic market in the future.

SM Nazer Hossain, vice president of the Consumers Association of Bangladesh (CAB), believes that the new government has not yet taken effective initiatives for market reform. He stated, "Market monitoring is proceeding sluggishly, yet this should have been the top priority. The government’s other reform initiatives and commissions should also have a clear position on reforming the daily commodities market. Even though there has been a change in ministers, the bureaucrats remain the same. They have maintained the syndicate in the market through collusion with businessmen."

When asked about the government's actions to control the prices of rice and flour, the new secretary of the Ministry of Food, Md Masudul Hasan, told Bonik Barta, "Through the Trading Corporation of Bangladesh (TCB), rice and flour are being sold at affordable prices to 1 million families, and through the Open Market Sales (OMS) program, to 50,000 families. In every district, new OMS dealers are being appointed by new policies. Many previously politically appointed dealers have fled, so by appointing new dealers, we ensure that the public can access rice and flour."