Dhaka, Nov. 13 -- Traders have cautioned that prices of essential commodities could soar ahead of Ramadan if extortion, corporate manipulation, and disruptions in the supply chain are not urgently addressed.

At a discussion hosted by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) in Dhaka on Wednesday, wholesalers and importers alleged that law enforcement agencies were turning a blind eye to widespread extortion and harassment of traders.

The meeting was chaired by FBCCI Administrator Md Abdur Rahim Khan.

Speakers warned that unless the government intervenes swiftly, market instability could deepen in the run-up to the fasting month.

They also accused large corporations of driving up prices through packaging a...