Commerce adviser says supply of the item will normalise in 2 days
The supply of packaged soya bean oil remained inadequate on Dhaka鈥檚 kitchen markets and general stores as on Monday, with retailers reporting that companies were yet to meet demand following weeks of supply shortage.
On the second day of Ramadan, the fasting month of the Muslims, customers rushed to purchase soya bean oil as limited stocks became available, but many were left frustrated as supplies ran out very soon.
Moreover, many retailers in Dhaka reported that they did not receive edible oil supplies from the companies yet.
Commerce adviser Sk Bashir Uddin assured that the soya bean oil supply would normalise within two days.
He made the statement during a visit to the Mohammadpur Town Hall kitchen market on Monday.
Earlier on February 12, he claimed that the edible oil market would stabilise within seven to ten days, yet the shortage continues.
鈥楾here is no shortage of essential commodities. The soya bean oil supply is somewhat lower, but we expect the situation to improve starting today,鈥� Bashir said.
According to TK group, an edible oil supplier, enough edible oil was being distributed daily to meet demand and any shortage could be due to market manipulation.
Retailers reported that the ongoing crisis had pushed the price of unpackaged soya bean oil to Tk 180-210 per litre in recent months.
Besides the edible oil crisis, consumers also expressed concern over rising prices of essential commodities and fruits.
Fruit sellers reported sharp price hikes, with apples selling at Tk 280-450 a kilogram, sweet oranges at Tk 300-350 a kilogram and mandarin oranges at Tk 350-400 a kilogram.
In the past 2-3 weeks, apple prices have increased by Tk 100 a kilogram, sweet oranges by Tk 100-120 a kilogram and mandarin oranges by Tk 60-70 a kilogram.
Md Abdul Mannan, a fruit seller at the Palashi kitchen market, blamed syndicates for the price hike.
鈥楤oth customers and retailers are suffering. When prices rise, customers buy less and we earn lower profits,鈥� he said, adding that his reduced earnings were making it difficult to meet his family鈥檚 expenses.
Rice prices ranged from Tk 55-100 a kilogram, with fine Miniket rice selling at Tk 75-82 a kilogram throughout February.
Coarse and medium-quality rice was available at Tk 55-65 a kilogram on Monday.
Retailers reported that prices of rice were showing an upward trend in the past 2 days, increasing by Tk 1-2 for different varieties.
Lemons, a Ramadan staple, saw a steep rise in prices, selling at Tk 80-140 a hali (four pieces) on Monday, nearly triple the item鈥檚 price since January 31.
The item previously sold at Tk 30-32 a hali.
Chickpeas, another essential item during Ramadan, were selling at Tk 105-110 a kilogram, down from Tk 130-140 a kilogram in January.
Broiler chicken was priced at Tk 210-220 a kilogram, up from Tk 190-210 a kilogram in late January, while the Sonalika variety was selling at Tk 320-330 a kilogram.
Vegetable prices have also risen since late January. Aubergine was selling at Tk 80-100 a kilogram on the day, up by Tk 20-40 a kilogram in a single day. Onion prices saw a slight decline, with the local variety selling at Tk 48-55 a kilogram. Egg prices also dropped slightly, selling at Tk 42-46 a hali, down by Tk 2-6 a hali from January 31.
Meanwhile, red lentil prices surged ahead of Ramadan, with the coarse variety selling at Tk 120-125 a kilogram, the medium variety at Tk 130 a kilogram and the fine variety at Tk 135-140 a kilogram.
Earlier on Saturday, Fakir Muhammad Munawar Hossain, director of operations and laboratories at the Directorate of National Consumers鈥� Right Protection, acknowledged supply shortages until Friday, stating that while some companies faced difficulties, others were trying to stabilise the market.
He noted that DNCRP drives had found retailers hoarding unpackaged soya bean oil for profit and actions were being taken against them.
Regarding rising fruit prices, he said that the DNCRP had not received complaints, but would investigate.