In the past, many put blame on the global coronavirus pandemic for the sky rocketing food commodities prices. Though it has contributed to some extent, the nature and manner in which the price of basic food commodities is rising, calls for immediate attention.
Also, the ongoing war between Russia and Ukraine is a scapegoat for this exploitative business practice currently seen in our local markets.
Muslims in the country in weeks’ time will start the Muslim Holy month of Ramadan. And Ramadan as taught in various Islamic scriptures is a moment of repentance and forgiveness, and seeking Allah’s blessing. However, in The Gambia the issue is the contrary. Again, on the contrary, this is the moment where unscrupulous businessmen would inflate their commodities beyond the reach of average Gambians.
What is even unbelievable is that the majority of businessmen in most of the country’s urban markets are practicing Muslims.
Evidently, studies have indicated that price hikes most of the time are caused by greedy syndicate of hoarders and retailers, who out of their sheer greed push up prices of certain basic food commodities, fast moving food items for no reason at all.
For instance, a bag of American rice is now being sold at D2300 in some markets around the Greater Banjul Area. In some areas it is even more.
Sugar now costs around D3,000 in some centres in the Greater Banjul, while a 20- litre gallon of vegetable oil D2,100. Onion now costs D1,200. This alone gives a synopsis of the hard times many Gambians go through to put food on the table. Going round most urban markets, one would observe that there are many nefarious and unscrupulous business practices that need urgent attention.
In as much The Gambia operates a liberal market style, where businessmen are free to sell their goods, but that does not give them license to exploit the consumers. Therefore, it is high time the government put in place measures to bring sanity to the market. Effective and reasonable price control measures are important to help poor families.
We also urge the government to intensify regular market monitoring as some unscrupulous traders just inflate their food commodities prices overnight when there is no need for such.
The Gambia should also look at the depreciating nature of dalasi against foreign currencies. This to some extent is also reflecting on food prices looking at international trade. The Gambia should reduce dependence on importation of food and promote agric mechanisation.
This is the only solution to get the country out of this vicious cycle—which also includes depending on other countries to make sound financial decisions and devise a paradigm shift by investing in agro-food companies and industries.