Senior statisticians of the Department of Census and Statistics said that market prices, to a great extent, do not depend on demand and supply, but that certain individuals were controlling the markets and manipulating prices. Oil prices, world food prices, bad weather, political instability affect price changes, but it is the demand and supply mechanism which determine prices on a daily basis. Over the years, they had noticed prices varying from 30 to 100 percent between the major market centres in the Greater Colombo area when they carried out surveys for the Colombo Consumers’ Price Index (CCPI). "It was shocking to see that certain varieties of fish were priced twice as much, say in Maradana, than for the same fish in Pettah on a single day," one statistician said. "It became clear to us in our surveys over the years that vegetables and other produce were haphazardly priced as well," he said. According to them, this trend still continues. Trade is controlled through a single party at the supply level, which means that local producers often part with their produce for a price much lower than that sold in Colombo. Why not go public with their findings? Being government servants, they said that they could not highlight these anomalies. But they said it was a well-known fact. Monopolists and cartels running the show from behind have political backing – another known fact, they said. Apart from inflation, these market racketeers add to the difficulties faced by consumers. These humble government servants cannot fight the system. But they do have some sound advice to offer: Consumers should pick and choose what to buy and when to buy. "We often see consumers paying a high price for fish and vegetables in one marketplace, while the prices may be less in another marketplace. This should not happen. If consumers wish to save, they should compare prices at different marketplaces," they said. But that is time-consuming, They said substituting is another tool consumers can use to their advantage. For example, if certain fish are priced too high, go for the cheaper varieties. Always look for a cheaper substitute. If carrots are too expensive, go for potatoes. "Consumers should make smart choices," statisticians said. These methods of selection will affect prices in markets where prices are abnormally high, and eventually force the manipulators to reduce their prices, in turn. |
