DHAKA, Jan 1: Thousands of Bangladeshis queued up early on Tuesday at fixed rate food shops run by paramilitary troops in the capital Dhaka, as prices of rice and other consumables rose alarmingly in retail markets.

Officials and traders both say there is no hope prices will come down soon.

Since last week rice, the country’s main staple, sold at nearly 40 taka ($0.60) per kilogram in retail markets, twice the price the troops are offering, buyers said.

But the troops’ shops do not reach the vast majority of Bangladesh’s more than 140 million people, who live in villages and suffered from repeated loss of crops due to floods and cyclones in the past year.

Traders and officials say food prices more than doubled since the army-backed interim government took over last January, promising to tackle what it said were “syndicates” (dishonest traders) pushing food prices up.

As the government, headed by former central bank chief Fakhruddin Ahmed, nears completion of its first year in office, prices continue to soar to all-time highs.

The government blames the spike largely on high commodity and fuel prices in international markets, and partly on dishonest traders and natural calamities.

Qazi Kholiquzzaman Ahmed, president of the Bangladesh Economic Association, said rocketing prices reflected “poor market control”.

“Commodities selling at exorbitant prices include rice, wheat, flour, edible oil, milk, spices, pulses, fish, meat and vegetables,” said Shahabuddin Ahmed, a buyer at a Dhaka market.

—Reuters