New AI Tool to Strengthen Market Monitoring in Bangladesh

Bangla Press Desk:  The government is planning to introduce an artificial intelligence (AI)-based data analytics system to monitor the supply of essential commodities and detect potential shortages before they disrupt the market, Commerce Minister Khandaker Abdul Muqtadir has said.

Speaking at an e-commerce implementation meeting at the Ministry of Commerce on Tuesday, the minister said the AI-based market monitoring system would analyse 10 years of data on production, imports, exports and global market trends to help policymakers make faster and more informed decisions.

He said ministries and agencies currently manage sensitive commodities across the agriculture, food and industrial sectors, but a coordinated system is needed to assess whether products are locally produced, import-dependent or sourced through a combination of domestic production and imports.

"The main objective is to prevent supply disruptions that often trigger price hikes. If potential shortages are identified in advance, the government can take timely action to maintain market stability," the minister said.

He cited products such as lentils and onions, stressing the need to continuously monitor domestic production, seasonal demand, international prices and the export capacity of supplier countries.

According to the minister, the AI-based market monitoring system will be able to forecast when shortages may occur, identify the most suitable countries for imports and recommend the best time to purchase commodities based on global market conditions.

He said the new system would significantly reduce the time required for policy decisions, replacing lengthy inter-ministerial consultations with AI-generated analyses available within minutes.

The Commerce Ministry plans to develop the Bangladesh to launch AI-based market monitoring system in collaboration with the ministries of agriculture, food and other relevant agencies. The database will combine official government information with reliable international open-source and subscription-based data.

The minister said the initiative is aimed at strengthening Bangladesh's market management system, ensuring a stable year-round supply of essential commodities and protecting consumers from unnecessary price volatility.

The meeting also discussed the development of the country's e-commerce sector, technology-driven market management and future policy priorities.