The Bangladesh Competition Commission has held hearings in two cases it filed against agro-industrial company Kazi Farms Group over the abnormal rise in egg and broiler chicken prices.

The hearing took place in the commission's court on Monday, 26 September, with both sides present. Kazi Farms managing director Kazi Zahedul Hasan attended. The company was ordered to submit the information sought by the commission in both cases by 6 October.

So far 44 cases have been filed over allegations of destabilising essential goods markets by raising prices through syndicates. In the latest round, 11 cases were filed against eight organisations. The two separate cases against Kazi Farms Group were heard on the first day, Monday, and the nine cases against the other seven organisations will be heard on Tuesday, 27 September.

The commission says manipulation by these companies has caused instability in the markets for essential and everyday goods in the past. The companies created shortages and raised prices, so the Competition Commission filed suo motu cases.

According to the list from the commission, cases were filed over the crisis in the rice market against Abdur Rashid, proprietor of Rashid Agro Food Product Limited in Kushtia, and Belal Hossain, proprietor of Belkon Private Limited of Belkon Group in Naogaon.

For the same reason, cases were filed against two more corporate rice suppliers, City Group of Industries and Bangladesh Edible Oil Limited (BEOL). The commission filed a separate case against City Group over a crisis in the flour market.

Cases were also filed against Paragon Poultry Limited, Kazi Farms Group and Amanat Ullah, president of the egg traders' Aratdar Multipurpose Cooperative Society, for creating an artificial crisis in the egg market. Two separate cases were filed against Paragon Poultry Limited and Kazi Farms Group over the chicken market.

A case was also filed against Unilever Bangladesh Limited for creating an artificial crisis by raising the prices of soap, scented soap and detergent powder.

Source: Jagonews24. First published in Bengali on The Agro News.