Despite the government fixing the prices for edible oil two days ago, there has been little impact on the market as the kitchen essential still remains costlier at the retail level.
On Friday, a litre of soybean oil cost up to Tk5 more than its price a week ago.
Much to the chagrin of the consumers, rice and chicken, too, has gotten pricier.
However, onion and garlic were selling at lower prices, while the prices of vegetables remained stable on Friday, according to sources at different kitchen markets in Dhaka.
The Trading Corporation of Bangladesh (TCB) says the prices of bottled and loose soybean oil surged by 40% and 35%, respectively, in the last one year, while the prices of five-litre soybean oil containers saw a 25% rise.
Prices of palm oil and palm super oil rose by 42% and 37% over the same period.
But Bangladesh Wholesale Edible Oil Traders’ Association President Haji Golam Mawla says the opposite - that the oil prices are on a gradual downward trend.
“In line with a decline in the prices globally, edible oil is now selling at lower prices in the country,” he said.
The businessman, however, argued that the fall in prices was not at the expected level since the demand for edible oil had reduced recently.
The government on Wednesday fixed the prices of soybean and palm oils in a bid to rein in the price hike in kitchen markets.
The commodity pricing committee set the retail price of loose soybean oil at Tk115 per litre, bottled soybean oil at Tk135 per litre and palm super oil at Tk104 per litre. The five-litre bottle of soybean oil was priced at Tk630 then.
Mirpur resident Shahabul Islam said they are buying bottled soybean oil for Tk135, which was just Tk100 a year ago.
“Loose soybean oil was available at Tk80-85 at that time, but now is being sold at Tk115-120. Similarly, we are now being charged Tk630 for the five-litre containers. The same quantity was priced at just Tk430 a year ago,” he said.
Loose soybean and palm oil are selling for Tk116-120 and Tk105-107, says a latest TCB estimate.
The price of fine rice of all varieties increased by Tk1-2 in a week.
Azibar Rahman, a rice wholesaler at Karwan Bazar, claimed that the overall prices of rice were stable, but the fine varieties got a bit pricier due to supply crunch.
Broiler chicken prices increased by Tk5 per kg in a week, and at least by Tk30 or 11% in a month, according to TCB.
Broiler chicken is selling for Tk155 and Sonalika chicken for Tk260. A dozen eggs was priced at Tk90 on Friday.
The retail prices of local onion declined by Tk3-5, to Tk26-32.
Potato is being sold at Tk15-20 while most of the winter vegetables are available at Tk20-30.
But traders are charging exorbitant prices for early summer vegetables. For instance, bottle gourds and okras were selling for Tk80-100, while lemons were priced at Tk10 apiece.
CAB for strict monitoring edible oil sale
The Consumers Association of Bangladesh (CAB) has called for ensuring strict monitoring of the markets to ensure edible oil is sold at government-fixed prices.
The Chittagong chapter of the consumer rights organization made the request on Friday after issuing a media release jointly signed by CAB central committee Vice President SM Nazer Hossain, Chittagong Divisional Secretary Kazi Iqbal Bahar and Chittagong city President Jesmine Sultana Paru.
Edible oil is an import item and the price cannot be hiked without the consent of the Tariff Commission. It is illegal to sell edible oil at a price higher since it is a packaged item, the statement said.
The monitoring agencies are playing the role of silent spectators when the traders are charging higher prices. The price fixed by the government will bring no good to the consumers, said the CAB leaders.
The government’s willingness and sincerity are necessary for regulating the market of daily essentials, the CAB statement said, adding that strict enforcement of law and more rigorous mobile courts are mandatory to stop hoarding.
The dishonest traders should be penalized and jailed. Besides, the state-run TCB should increase its emergency stock, the CAB leaders suggested.
Our Staff Reporter Anwar Hussain contributed to this report
