Bottled soybean oil still scarce despite price hike

The supply of bottled soybean oil remains tight in Dhaka’s retail markets despite a Tk 5 per litre price hike approved by the Ministry of Commerce earlier this week, with retailers blaming suppliers for restricting deliveries.

A visit to retail markets in Rampura, Badda, Segunbagicha and Shantinagar on Friday found that one-litre bottles were scarce at most shops, while two- and five-litre bottles were available at many 
outlets.

Retailers said suppliers had been limiting deliveries for nearly two weeks amid rising international prices, and the situation had not improved following the new price announcement.

The government raised the retail price of bottled soybean oil from Tk 199 to Tk 204 per litre on Wednesday. Prices of loose soybean and palm oil remained unchanged.

Enamul Haque, a retailer at Shantinagar market, said supplies had not increased despite the new price.

"Companies are not taking normal orders until products at the new price arrive in the market," he said.

Retailers said suppliers were withholding supplies even after they placed orders. When small quantities were delivered, their commissions were also reduced significantly.

At Segunbagicha, only two of the first five grocery shops visited had small quantities of one-litre soybean oil bottles. Retailers said products carrying the new price had yet to arrive.

Mohammad Taher, a grocery shop owner in the Segunbagicha residential area, said retailers were struggling to obtain oil despite placing orders. He said the commission on a Tk 200 bottle had been reduced to Tk 1.50.

Meanwhile, egg and chicken prices remained high. A dozen broiler eggs were selling for Tk 150, unchanged from the previous week. Broiler chicken was priced at Tk 185-195 per kg, while Sonali chicken was selling for Tk 320-340 per kg.

Sugar supplies were also low at some shops, with prices rising by Tk 10-15 per kg over the past two weeks.

Some vegetables, however, became cheaper. Ridge gourd was selling for Tk 70-80 per kg, snake gourd for Tk 50-60, papaya Tk 30, bottle gourd Tk 50-70, taro Tk 60-70, bitter gourd Tk 60-80, and small pointed gourd and okra Tk 40-50 per kg.

Green chilli prices fell sharply to Tk 80-120 per kg, while cucumber dropped to Tk 40-50. Yardlong beans, tomatoes, carrots and teasle gourd remained relatively expensive.

Onion prices also fell to Tk 55-60 per kg from Tk 60-65 the previous week.