Ramadan Price Shock Looms: FBCCI Urges Early Action to Keep Essentials Stable

With Ramadan fast approaching, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for early and coordinated action to prevent a fresh spike in the prices of essential commodities, urging the government and businesses to begin dialogue well ahead of the holy month.

FBCCI Administrator Fazlul Haque made the call on Tuesday at a stakeholder consultation organised by the apex trade body at its Motijheel office, where businesspeople from different sectors discussed the stock, supply, import and price situation of essential goods.

“To keep the market for essential commodities stable, we will hold another consultation with businesses by next October, in discussion with the concerned ministries and departments, ahead of Ramadan,” Fazlul said.

He stressed that market stability could not be achieved through last-minute or symbolic measures, saying the FBCCI wanted to work with businesses and the government to identify problems early and implement practical solutions.

Prices of essential commodities traditionally come under pressure during Ramadan as demand for food and other daily necessities surges, while supply-chain bottlenecks, import constraints and market manipulation can further fuel the increase.

The risk is compounded by unscrupulous traders who may exploit the seasonal demand by hoarding goods, creating artificial shortages and charging prices above government-fixed rates.

Over the past two Ramadan periods, prices of several popular iftar and sehri items in Bangladesh typically rose by around 10 to 30 per cent, although significant government tax cuts in 2025 triggered sharp price reductions for some basic staples.

At Tuesday’s meeting, business representatives placed a range of recommendations before the FBCCI administrator on how to contain commodity prices and ensure adequate supplies during Ramadan.

Fazlul said the recommendations would be reviewed with the relevant ministries and government departments before being forwarded for necessary action.

He said the FBCCI initiative was aimed at bringing all stakeholders to the same table to identify market weaknesses before they turn into crises and develop workable solutions, describing the participation of both small and large businesses as encouraging.

Demand for daily essentials normally rises sharply ahead of Ramadan and Eid, he said, adding that the FBCCI would submit necessary recommendations to the government to ensure that ordinary consumers were not forced to pay excessive prices during the peak season.

“We do not want to carry out mere symbolic activities to control the market. We want to play an effective role by implementing the recommendations given by businesses,” Fazlul said.

He also warned of a potential new source of inflationary pressure following the announcement of a new pay scale for government employees.

The FBCCI administrator urged the government to send a clear and reassuring message to the public to prevent fears of a price spiral triggered by higher wages.

He also cautioned traders and businesses against using the wage increase as an excuse to raise prices, stressing that the pay-scale adjustment must not become an opportunity to destabilise the market.

The FBCCI’s early intervention signals a shift towards preparing for Ramadan market pressures well before the seasonal demand surge, with closer coordination among the government, businesses and other market stakeholders seen as crucial to preventing shortages, hoarding and abnormal price hikes.