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Targeting high profits
Artificial shortages of soybean and sugar created through market manipulation
Published : Saturday, 29 August, 2026 at 10:20 AM
Observer Online Report
Companies have set their sights on making high profits from soybean oil and sugar by exploiting consumers. To achieve this, they have strategically reduced supplies to the market over the past two weeks, creating an artificial shortage. Prices are being raised accordingly. In the meantime, consumers are already being charged an additional Tk 25 per kilogram for sugar.
Similarly, the price of soybean oil has been increased by Tk 6 per liter. By deliberately keeping supplies below normal levels and gradually raising prices, companies are ensuring higher profits. Not only oil and sugar, but the prices of flour and refined flour have also been increased recently.
At the same time, eggs are being sold at high prices despite adequate supplies. As the prices of one essential commodity after another continue to rise, discomfort is growing in the market, increasing the daily expenses of ordinary people. These details were learned from discussions with relevant parties on Friday.
S.M. Nazer Hossain, Vice President of the Central Committee of the Consumers Association of Bangladesh (CAB), said, “Who is actually controlling the market? It seems that the entire consumer community is once again being handed over to the old syndicate. Although several government agencies have been assigned responsibility for controlling the market, there has been no visible progress.
Instead, the prices of one commodity after another are being increased every week, putting consumers under increasing pressure. Therefore, strict monitoring must be carried out to keep commodity prices within consumers’ reach. Whenever irregularities are found, those responsible must immediately be brought under the law and exemplary punishment should be ensured.”
On Friday, six grocery shops were visited in the capital’s Naya Bazar. Packaged sugar was found in only one of them, while supplies of loose sugar appeared to be limited at all six shops. According to the sellers, loose sugar was being sold at Tk 120-125 per kilogram at the retail level, compared with Tk 110-120 a week earlier. Two weeks ago, it was selling for Tk 100 per kilogram. Thus, sugar prices have increased by Tk 15-20 per kilogram in two weeks.
At around 11:00PM, eight grocery shops in the capital’s Ray Saheb Bazar were visited, and packaged sugar was found in only three of them. Although the packets were marked with a price of Tk 110, they were being sold for Tk 120-130. In addition, because supplies of loose sugar were limited, shopkeepers were selling it at higher prices.
Meanwhile, sources within the companies said that a gas and electricity shortage has been continuing for a month. Mills have not been receiving adequate gas, making sugar production difficult. As a result, supplies from the mills have declined, which has subsequently reduced supplies to retailers through dealers. Prices have therefore increased.
On the other hand, an influential syndicate is reportedly planning another round of soybean oil price increases by putting pressure on the government. To this end, despite sufficient imports and stocks, an attempt has allegedly been made to create a supply shortage at the mill level.
-MT
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Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
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Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Advertisement: 41053012; 01793317829, 01550707291, E-mail: [email protected], [email protected] Online: email: [email protected] 41053014; 01550707297 Advertisement: 01550707296
