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Info dissemination stressed for food market stabality PDF Print E-mail
Friday, 18 January 2008

Staff Correspondent

Absence of necessary information and forecast regarding to food production and its supply has largely contributed to market volatility and price hike, economists said on Wednesday.

The economists at a meeting, held at the office of the commerce adviser, also pointed out that proper dissemination of information was badly needed for keeping the food market stable.

Chaired by commerce adviser Hossain Zillur Rahman, the meeting was attended by former adviser to the caretaker government Wahiduddin Mahmud, Bangladesh Bank governor Salehuddin Ahmed, director general of Bangladesh Institute of Development Studies Quazi Shahabuddin, its former senior research fellow Sajjad Zahir, economist Ali Taslim and BRAC executive director Mahbub Hossain.

The commerce adviser said his ministry would hold several follow-up meetings with market stakeholders for developing a proper information system regarding to food supply.

Terming NBR, Bangladesh Bank, DAE, BBS and TCB as important departments, he said, 'These can help disseminate proper information and make forecasts regarding to food supply.'

The adviser said the government would plan to expand the food distribution safety net for the poor and vulnerable groups.

Economist Wahiduddin Mahmud said, 'It is possible to keep the market stable with timely and proper forecasts on food production and its supply.'

For this, the economist said, 'Accurate forecasts before and after the harvests of local production, monitoring and timely evaluation on supply and price trends in international commodity markets are must.'

Referring to wheat price increase in international market, he said the governments of India, Brazil and Egypt had a good stock of wheat following international market forecasts on bad production and price increase in the future.

He also stressed the need for ensuring a smooth supply chain for both the consumers and traders.

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