Those who have an illegal stock of rice that crosses the government fixed limit will be sealed off, says Food Minister Sadhan Chandra Majumder.
He made the warning while briefing reporters in Dhaka on Wednesday noon.
Stating that there is no shortage of rice in the country, the minister said that the prime minister has been notified about the "manipulation" of regular traders along with some non-business people in hiking rice prices.
Those who will be identified as hoarders will not be able to buy rice from the open market and sell it in packets, he added.
The minister said that Prime Minister Sheikh Hasina herself is monitoring the whole situation and has instructed the authorities concerned to take stern action against the culprits regardless of their political affiliation.
"None [of the hoarders] will be spared. Rice prices will come down thanks to the efforts of the government," he added.
Earlier on Tuesday, the government launched drives across the country against rice hoarders.
Total eight teams of the ministry started the drives to detect those who are involved in creating an artificial crisis by hoarding rice illegally and they will take legal steps against them.
The decision was taken at a meeting with Food Minister Sadhan Chandra Majumder in the chair, held at the Secretariat.
The meeting also decided to send letters to the deputy commissioners, upazila nirbahi officers, National Security Intelligence, Rapid Action Battalion and Directorate of National Consumer Rights Protection to tackle the crisis created by the illegal hoarding of rice.
The Food Ministry also opened a control room and people have been requested to inform them about illegal rice hoarding by making phone call on -- +88022233802113, 01790499942 and 01713003506.
The Cabinet on Monday directed the relevant authorities to find out why the rice price is so high during the peak harvest season.
The directive came from the Cabinet meeting held with Prime Minister Sheikh Hasina in the chair at her office.
The meeting decided to conduct drives against illegal rice hoarders like the recent drives carried out against the edible oil hoarders in the country, said Cabinet Secretary Khandker Anwarul Islam.