An organized market syndicate targeted to make the kitchen markets across the country by spreading the rumors of enhancing price of salt as if ‘rub salt on onion wound’. Following rumors that salt prices would go up like those of onions, people across the country went into panic buying yesterday, emptying shelves.
The government swung into action and mobile courts jailed scores of unscrupulous traders, fined a huge number of retailers and several dozens of stores, and held 52 people for stockpiling and selling salt for unreasonable prices.
The rumors started spreading like wildfire, on the streets and in social media, since Monday afternoon and people who had to endure the recent onion price hike got spooked and made a dash to stores in huge numbers, buying a lot more table salt than they needed.
Unscrupulous traders across the country took advantage of the panic buying and jacked up the prices as high as Tk 80 a kg, which is usually Tk 25-35.
The chaos prompted police and local administration to launch drives in the capital, Savar, Sylhet, Rajshahi, Bogura, Dinajpur, Thakurgaon, and Moulvibazar.
There were also reports of panic buying in Cox’s Bazar, Chattogram, Lalmonirhat, Chandpur, Cumilla, Pirojpur, Narayanganj, Bagerhat, ChapiNawabganj, Thakurgaon, Natore, Jashore,Noakhali, Feni and Gaibandha.
The government even issued a press note yesterday, warning stern actions against anyone spreading rumors about salt or anything else in social media.
“A quarter has been involved in spreading rumors in the country in a planned way. And there is an evil attempt to spread rumors about the supply of salt,” the statement read.
It noted that the industries ministry already assured people of enough salt stocks and freshly produced salt in the market in December.
There are no shortage of salt and no possibility of supply shortfall, the statement said.
Millers and leading salt companies also said there was no shortage of salt.
Bangladesh Small & Cottage Industries Corporation (BSCIC) said that misleading information over salt stocks and price were being spread by an unscrupulous group.
Salt production in the country hit a record 18.24 lakh tones in 2018-19 fiscal year, the BSCIC said.
The Police Headquarters requested people to dial 999 or inform their local police stations if shop owners demanded exorbitant prices for salt.
Since Monday afternoon, rumors started making the rounds in social media that there would be a shortage of salt supply and the prices would go through the roof.
Panic buying started first in Sylhet with people thronging grocery shops.
Barta24.com district correspondents found panicked customers thronging kitchen markets in the different markets across the country to buy salt from the experience of onions.
Police, local administrations, even mosques through megaphones asked locals not to pay heed to the rumor. The government said in separate statements that a quarter with vested interests was trying to destabilize the market by spreading rumors.
Businesses said they believed the situation was created to put the government in a tight spot. The Ministry of Industries said in a statement in the afternoon: “It appears that a quarter with vested interests is spreading rumors to make windfall profits by manipulating salt prices. The public is requested not to get confused.”
Later, in another statement, the government vowed to take tough legal action against any person who spreads rumors about salt amid panic buying.
A quarter is out to spread rumors in Bangladesh and there are “evil attempts” to spread rumors about the supply of salt, according to the statement.
It noted the Industries Ministry already assured people of enough salt in stock and new products are expected to arrive in December.
“So, there is no lack of salt and no possibilities of any shortage,” the statement said.
“If any person or group tries to spread rumors about salt or anything else on social media or in any other way, they will face tough legal steps,” it added.