Dhaka's Green Chili Crisis: Soaring Prices Push Millions into Poverty
Dhaka residents are grappling with soaring prices of green chilis, with the vegetable selling for Tk 300-350 per kilogram. This price instability, along with high inflation, has pushed millions into poverty, according to a study by Research and Policy Integration for Development.
The government's efforts to stabilize kitchen market prices have largely failed, with prices of essential vegetables like green chilis continuing to rise. The commerce ministry has been criticized for not intervening earlier to control the situation. Similar price hikes were witnessed after Eid-ul-Adha due to supply disruptions.
Traders blame excessive rain, supply shortages, and dampened soil for the price increase. However, the rising prices have had a significant impact on low-income people, making it harder for them to survive. High inflation has pushed at least 78 lakh people into poverty, with 38 lakh falling into extreme poverty. This sharp increase in poverty, from 18.7 percent in 2022 to 27.93 percent in August, has raised serious concerns about the government's economic policies.
The commerce ministry must take immediate action to stabilize the kitchen market prices and prevent further inflation. The government should also implement policies to protect the most vulnerable from the impacts of high inflation and poverty.
