Unreasonable prices are increasing in the market because there is no one on the side of the consumer
The government does not have any monitoring or supervision over the market and supply system of perishable and non-perishable food products in our country. Therefore, whenever influence is added to such a market structure, the powerful parties in the structure take advantage of it.
By exerting their influence, they take extra profit. As we can currently see in the market with different product prices. Due to this, there is some kind of instability in the price of the product in the market. Consumers are the victims of this instability. For those who do not have a powerful party to speak up in the market structure or the supply system. Simply put, there is no one to speak for the consumer. So as a destiny they have to accept the pressure of increased prices.
If we look at our market structure, we see that the price of goods in the market is determined by the influence of sometimes producers and sometimes middlemen. Because of this, sometimes there is not much difference between the demand and the supply, but the price of goods increases unreasonably. As a result, the higher the influence on the market structure, the higher the price.
Reviewing the situation of the last few years, it can be seen that there have been three phases of instability in the market. The first phase happened during the Corona period. Then there was a shortage of supply compared to demand. And using that opportunity, the price of goods increased abnormally. After the start of the Russia-Ukraine war, prices rose again. Now the prices are being increased citing the rise in fuel prices as the reason. It is true that the cost of transportation has increased due to the increase in fuel prices.
Fuel oil is one of the ingredients that increases not only the cost of transportation, but all kinds of costs. Then it goes beyond the consumer class and affects everyone. There are many types of additional cost pressure on the product price. However, the difference in wholesale and retail prices that we see in the market now cannot be explained by any formula or logic. Because, the price is increasing at a higher rate than the rational price increase. There is no strong consumer side at the moment.
In such a situation, the government has a lot to do. If they really want to protect the consumer. What the government can do in this case is to make arrangements to inform the consumer regularly about the rational price increase.
A figure needs to be presented to the consumer as to how much the price of the product can logically increase due to increase in the cost of transportation and other costs. As the consumer will be aware, similarly those who play a role in increasing the price in the supply system will be cautious