Due to rising prices in the global market, edible oil marketing companies have been reducing the supply of soybean oil to the retail market for several days. Even after the Commerce Ministry approved a Tk 5-per-litre increase in the price of bottled soybean oil this week, the supply shortage has not eased. Retail shops in various parts of Dhaka are still facing a shortage of soybean oil.
Taking advantage of the shortage, some grocery retailers were also found selling soybean oil at prices higher than the government-fixed rate, including old-stock oil bought at the previous price. Meanwhile, the supply of sugar was also low at some shops. The price of sugar has increased by around Tk 10 to Tk 15 per kg over the past two weeks.
This was the scenario observed during visits to several retail markets in the capital on Friday (September 4) morning.
The price of bottled soybean oil has been increased by Tk 5 per litre, from Tk 199 to Tk 204. However, the prices of loose soybean oil and palm oil have remained unchanged.
Despite the price hike, visits to several markets in Rampura, Badda, Segunbagicha and Shantinagar found that most shops did not have one-litre bottles of soybean oil. However, two- and five-litre bottles were available at most shops.
Enamul Haque, a retailer at Shantinagar Market, said the supply had not increased even after the new price was announced on Wednesday.
“Companies are not taking regular orders until products at the new price reach the market,” he said.
Shopkeepers said suppliers had not been delivering soybean oil for nearly two weeks. Even when they received small quantities after placing several orders, retailers’ commissions had been reduced significantly.
A similar situation was found at several grocery shops at the Segunbagicha kitchen market. Only two of the first five shops visited had small quantities of one-litre soybean oil bottles.
The sellers said there was no regular supply and that oil at the new price had yet to arrive.
Md Taher, a grocery shopkeeper in the Segunbagicha residential area, said, “Even after placing orders, we are not getting the oil. At the same time, the retailer’s commission on a Tk 200 bottle of oil has been reduced to just Tk 1.50.”
Meanwhile, despite the instability in the edible oil market, egg and chicken prices remained high. A dozen broiler chicken eggs were selling for Tk 150, unchanged from the previous week. Broiler chickens were selling for Tk 185 to Tk 195 per kg, depending on the area, also unchanged from the previous week.
The price of Sonali chicken also remained unchanged, ranging from Tk 320 to Tk 340 per kg.
Prices of some vegetables, however, were found to have fallen. Long eggplants were still selling for no less than Tk 100 per kg, while ridge gourd prices had fallen to Tk 70-Tk 80, snake gourd to Tk 50-Tk 60, and papaya to Tk 30 per kg.
Local bottle gourds, which had previously sold for Tk 80-Tk 90, were now selling for Tk 50-Tk 70. Taro corms were selling for Tk 60-Tk 70, bitter gourds for Tk 60-Tk 80 depending on quality, and small pointed gourds and okra for Tk 40-Tk 50 per kg.
Meanwhile, the price of green chillies had fallen significantly to Tk 80-Tk 120 per kg. Cucumber prices had also dropped to Tk 40-Tk 50 per kg.
However, yardlong beans, tomatoes, carrots and teasel gourds remained relatively expensive.
The price of onions also declined slightly. Onions that had been selling for Tk 60-Tk 65 per kg were now available at Tk 55-Tk 60 per kg.
