Prices are skyrocketing, the Trade Minister is a failure, government is incompetent, corrupt businessmen are holding the nation to a ransom — that’s the sense one gets from glancing through the newspapers, or watching the Deshi channels. The thing is, this whole narrative based on an obsession with ’syndicates’ — unscrupulous businessmen in cahoots with corrupt politicians — is at most a minor, side story. Much of the price rises we are seeing are likely to be explained by simple interactions of supply and demand.
And while the media is busy hunting syndicates, talk show pundits are castigating the Trade Minister, and the Trade Minister is busy trying to preach the businessmen to ‘not make excessive profit’, no one is talking about the real danger: monsoon is about to fail across South and South East Asia, and there is a real danger of skyrocketing rice prices in 2010.