Bangladesh: Bottled soybean oil reappears in markets as price goes up
Dhaka markets see renewed availability of one-litre soybean oil bottles after a two-week shortage, but prices rose to Tk 204/litre. Atta, flour and sugar prices also increased, while eggs and chicken remain expensive. Unbottled soybean and palm oil continue selling above government-set prices.
For the past two weeks, there has been a shortage of one-litre bottles of soybean oil at different markets in Dhaka. Five-litre bottles were available, but many found one-litre bottles hard to come by except at larger shops.
However, after the price increase, soybean oil bottles are now once again available at grocery stores in the capital’s neighbourhoods. Alongside soybean oil, the prices of Atta and flour have also increased in the past week, while eggs and chicken prices remain high.
Similar prices could be observed during visits to several markets in Dhaka on Friday.
On Tuesday, the Ministry of Commerce increased the price of bottled soybean oil by Tk 5 per litre, from Tk 199 to Tk 204. However, the prices of unbottled soybean oil and palm oil were kept unchanged.
In addition, Commerce Secretary Ataur Rahman Khan also claimed that there is currently sufficient supply of edible oil in the country’s markets.
Before the price hike, buyers had complained that they were not able to find small bottles of soybean oil in the market. Sellers had also spoken of a shortage of small bottles of soybean oil.
University student Amit Hasan bought a one-litre bottle of soybean oil from Daily Needs, a small grocery store in Mohammadpur’s Bosila City Housing, on Friday morning. He says he shares a mess on Road No. 6, Block C of this residential complex with five other people.
Amit told bdnews24.com, “We have more mess members, so we cook more. As such, we run out of oil after a week to 10 days. I buy almost all my groceries from this store. Last week, I couldn’t buy oil from here, so I bought it from a big market. Today, I found it here. However, the price was Tk 204.”
Tanvir Joy, owner of Bosila City Housing’s Daily Needs, said: “For 10-12 days, dealers have not supplied small bottles of oil. Large bottles (5 litres) were easily available. But two days ago, small bottles started coming in. I had to buy them at a higher price.”
One-litre bottles of soybean oil were also available at the streetside shops in Nakhalpara around noon. Buyers said that they are buying soybean oil at the new government-set price of Tk 204 at retail stores. However, shopkeepers were selling a litre of Sena brand oil at Tk 200.
Regarding the low price of Sena-branded oil bottles, Nahian Rahman, a grocer at Astha Enterprise in Nakhalpara, said: “There was some stock from before. We are selling those at Tk 200. However, we also picked up soybean oil from Meghna or Bashundhara yesterday (Thursday), so we are charging the new price for those.”
Like bottled oil, unbottled soybean oil is also being sold at a higher price. It was selling for Tk 185-190 per litre at Mohammadpur Town Hall Market on Friday, while palm oil was Tk 170-175 per litre. These prices are despite government-set prices of Tk 180 per litre for unbottled soybean oil and Tk 163 per litre for palm oil.
Asked why the price of unbottled oil is high, Humayun Kabir, a trader at Khokon General Store in Mohammadpur Agricultural Market, said: “The price of unbottled soybean oil basically depends on the price we get. If the price is high in the wholesale market, we are not satisfied with selling it at the price fixed by the government. Transportation and shop expenses are incurred. Now we have to buy oil at a higher price from the wholesale market, so we have to sell it at a higher price at retail.”
Like oil, the price of Atta and flour has also increased again in the past week. Shopkeepers say that the price of flour has been on the rise for the past month. Last week, the price of loose flour increased by a maximum of Tk 10 per kg, selling at Tk 65-70, while packet flour was Tk 70-75. This week, the price of packet flour has increased again, selling at Tk 80 per kg.
Loose Atta rose by Tk 5 to Tk 45-50 per kg, while packet Atta is selling for Tk 60-65.
Last week, sugar was being sold at Tk 120-125 per kg in the market, up by Tk 10. The highest retail price of packaged sugar was also Tk 110.
The state-run Trading Corporation of Bangladesh (TCB) did not release its market price list on Friday. According to TCB data released on Thursday, the price of loose Atta has increased by 3.16 percent and that of loose flour by 12.5 percent in the past month. The price of sugar has increased by 7 percent.
Egg and chicken prices remained stable, but high. Last month, a dozen farm-raised chicken eggs were between Tk 125-130. Currently, they are selling for Tk 155-160. Broiler chicken is being sold at Tk 190-200 per kg. Sonali chicken is also selling for Tk 320 to 340 per kg, as it was last week.
Although the price of vegetables increased slightly on Tuesday and Wednesday, it fell again on Friday. The prices are now the same as last week. Okra, pointed gourd, spine gourd, sponge gourd and winter melon are being sold at Tk 60 per kg, bitter gourd at Tk 70, bottle gourd and Egyptian sponge gourd at Tk 80 and papaya at Tk 30 per kg. Long brinjal remains above Tk 100. However, it is available at Karwan Bazar at Tk 60-70.
In addition, green chillies are available at Tk 80-120 at Mohammadpur Town Hall Bazar, depending on the quality. They are being sold at Tk 60 per kg at Karwan Bazar. The price of cucumber has decreased to Tk 40-50. However, the prices of beetroot, tomatoes, carrots and spiny gourd are quite high.
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Source : The Financial Express
