Bangladesh : Packaged edible oil crisis, high prices affecting consumers
The price of edible oils, particularly soybean and palm oils, has increased significantly in Dhaka due to reduced supply and rising international prices. Retailers report limited availability, and many are forced to buy at higher prices from distributors. As a result, unpackaged soybean oil now costs Tk 170-175 per liter, while packaged versions are priced at Tk 175-178. Additionally, other commodities like vegetables, onions, and rice have also seen price hikes, with green chilies and potatoes remaining relatively stable
The unpackaged soya bean and palm oil, often a more affordable option for low-income families, had also become significantly more expensive over the past two weeks.
Retailers reported that suppliers had significantly reduced the supply of edible oil and pricing consistency was absent at all levels, including wholesale and retail.
‘We are not receiving the required quantity of edible oil from suppliers and at the same time, retailers are being forced to purchase it at high prices from distributors,’ Mizanur Rahman, a retailer at Karwan Bazar, told New Age on Friday.
He said that the supply of packaged soya bean oil had drastically fallen in Dhaka’s kitchen markets and in most cases, distributors were charging prices higher than the retail cost labelled on the product.
The prices of edible oil increased by Tk 7-10 a litre in past one week and unpackaged soya bean oil sold for Tk 170-175 a litre while the packaged item sold for Tk 175-178 a litre on Friday.
A five-litre bottle of soya bean oil sold for Tk 850 on the city markets.
Palm oil sold for Tk 170-175 a litre on the city markets on the day.
Recently, the vegetable oil refiners’ association has sent a letter to the Trade and Tariff Commission seeking upward revision of edible oil prices, saying that the prices of both the soya bean and palm oil went up on the international market.
In the letter, refiners also said that traders were proceeding cautiously with opening letters of credit for importing edible oil due to the government’s lack of decision on price adjustments on the local market.
An official from a large edible oil refinery company in the country, who wished to remain anonymous, said that the prices of both soya bean and palm oil had risen on the international market, with the price of palm oil unexpectedly surpassing that of soybean oil.
He said that refiners reduced the supply of packaged items to avoid losses from producing bottles, as the local prices had not been adjusted in line with international price increases.
He also claimed that the supply of unpackaged edible oil remained available.
The prices of other commodities, including vegetables, onions and potatoes, remained high on Dhaka’s kitchen markets over the week ending Friday.
Aubergine sold for Tk 80-100 a kilogram, papaya for Tk 40-50 a kilogram, bitter gourd for Tk 80-100 a kilogram, pointed guard for Tk 50-60 a kilogram, okra for Tk 60-70 a kilogram, string beans for Tk 80-90 a kilogram, teasel gourd for Tk 70-80 a kilogram, ridge gourd for Tk 60-70 a kilogram, snake gourd for Tk 60-70 a kilogram, beans for Tk 60-70 a kilogram and tomato for Tk 150-160 a kilogram on Friday.
The price of green chillies remained stable and the item sold for Tk 100-120 a kilogram in the city on the day.
The price of potatoes remained high and the item sold for Tk 75-80 a kilogram on the city’s kitchen markets on Friday.
The prices of onions also remained high and its local variety sold for Tk 120-130 a kilogram while the imported item sold for Tk 90-110 a kilogram on Friday.
The coarse and medium-quality varieties of rice sold for Tk 53–60 a kilogram on Friday.
Lower-grade Miniket sold for Tk 70-75 a kilogram over the week.
The fine variety of Miniket sold for Tk 78–82 a kilogram and Najirshail for Tk 80-90 a kilogram on Friday.
The prices of broiler chicken decreased by Tk 10 a kilogram and the item sold for Tk 170-200 a kilogram while Sonalika variety of chicken sold for Tk 280-290 a kilogram on the day.
The prices of garlic remained high and its local variety retailed at Tk 230–260 a kilogram while imported garlic sold for Tk 220–240 a kilogram on the day.
The price of sugar remained high over the week and the item sold for Tk 135-140 a kilogram on Friday.
The price of eggs decreased by Tk 2 a hali (four pieces) and the item sold for Tk 48-50 a hali on the city’s kitchen markets on Friday.
Rohita sold for Tk 300–450 a kilogram and Katla for Tk 300–450 a kilogram, depending on size and quality.
Pangas sold for Tk 200–230 a kilogram and Tilapia for Tk 220–230 a kilogram on Friday.
The coarse variety of red lentil sold for Tk 105-110 a kilogram and the medium-quality variety for Tk 115–120 a kilogram on Friday.
The price of fine variety of red lentil remained high and the item sold for Tk 135–140 a kilogram on Friday.
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Source : New Age
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