Bottled Soybean Oil Back to Market After Price Hike
"For the past few days, shopkeepers kept saying the same thing—bottled soybean oil has been unavailable. However, if it was found in rare places, it was claimed a high price. However, today (December 10), I see a completely different scenario in the market. Every shop has plenty of oil. That means whatever happened till now was nothing but a scheme by the syndicate to hold people hostage," said Mansura Hossain, a private-sector employee while shopping for daily essentials in Karwan Bazar.
Expressing her frustration, Mansura said, "Prices of essential commodities are often raised under the pretext of shortages, causing hardships for ordinary people like us. We are forced to buy at higher prices."
Al-Amin, a CNG driver, said, "Yesterday morning I returned empty-handed because there was no 1-liter bottled soybean oil. But today, bottled soybean oil is available everywhere. Does this make any sense? Are they free to do whatever they want without any accountability?"
The CNG driver further alleged, "If there was a shortage, then where did all this oil suddenly come from? Or are the traders orchestrating this to hike the prices? The government should investigate the real reason behind this."
On Tuesday morning (December 10), a visit to the capital's Karwan Bazar area revealed shelves overflowing with bottled soybean oil. However, as the new price-adjusted oil had not yet arrived, consumers were still able to buy at the previous rates.
Speaking to several retailers, the reporter stated that after the announcement of the price hike, dealers increased the supply of oil in the market. However, oil at the new price has not yet been supplied in the market. As a result, consumers are buying 1-liter bottled soybean oil for 167 BDT and a 5-liter bottle for 818 BDT.
Retailers also mentioned that from Wednesday (December 11), the new oil will arrive in the market and will be sold at 175 BDT per liter.
Earlier, on Monday (December 9), Trade Advisor Sheikh Bashir Uddin announced an increase in the price of both bottled and loose soybean oil per liter an 8 BDT.
He said the price of bottled soybean oil has been set at 175 BDT per liter, while loose soybean oil is priced at 157 BDT per liter.
Citing the increase in prices on the international market, the advisor added, "The primary reason for the price hike is the supply shortage of edible oil globally."
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