Saturday | 18 January 2025 | Reg No- 06
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Saturday | 18 January 2025 | Epaper

Vegetable prices fall a little but edible oil prices upswing in Dhaka markets

Published : Saturday, 7 December, 2024 at 12:00 AM  Count : 375
Mizanur Rahman
Vegetable and egg prices have fallen a little with the advent of winter but edible oil prices have spiked over the past few days to the disadvantage of the cash-strapped customers in the capital.

The price of potatoes has decreased by Tk 5 per kg in a week. The price of eggs has decreased by Tk 5 per dozen and is being sold at Tk 145. The prices of onions, sugar, chickpeas, and winter vegetables have also started to decrease. Meanwhile, soybean oil has largely disappeared from the market.

This situation was observed while visiting various markets in the capital on Friday. Retailers say that the supply of edible oil in the market has been low over the past week. Bottled soybean oil is particularly in short supply, resulting in sellers not getting enough oil. Some sellers complain that companies are attempting to make extra profits by creating an artificial crisis and increasing prices before the start of Ramadan.

After visiting 5-6 grocery stores in Muslim Bazaar, Mirpur 12, soybean oil was not available. A seller named Alimuddin said that the company will increase the price, and now the supply has stopped. No soybean oil has entered the market for two to three days. With the bottled soybean oil crisis in the market, buyers are returning empty-handed. Despite the government reducing customs duties and taxes in stages, the import of soybean oil has not increased.

Another seller mentioned that many stores do not have soybean oil and some are stockpiling to sell at a higher price when prices increase. Due to these reasons, there is a shortage of edible oil. Buyers are returning home without getting oil. Packaged soybean oil has been found in a few shops, where it is being sold at the fixed price or slightly higher.

A visit to the market showed that the price of one litre of Rupchanda soybean oil is Tk 167, two litres Tk 334, and five litres Tk 818. In most shops, sellers are adding Tk 5 to Tk 10 more than this price. To control prices, the government recently reduced customs duties and taxes on palm and soybean oil imports by Tk 10 to Tk 11 per kg. However, this has not increased imports. On the contrary, a visit to various markets showed that the shortage of bottled soybean oil is the greatest. 

Retailers say they are not even getting 10 per cent of the oil they demand, with prices increasing by at least Tk 5 per litre.
Economic Analyst Md Kamruzzaman (Babu Kamruzzaman) said that the government must actively support importers by easing access to Letters of Credit (LCs). A decline in LCs directly reduces imports, causing supply shortages and driving up market prices. Addressing this early is crucial, especially with Ramadan approaching when demand typically surges.

For example, current stocks of essential items like edible oil, sugar, and onions are already below last year's levels. Although the LC margin relaxation for 11 Ramadan essentials is a positive step, further collaboration between the Commerce Ministry, Bangladesh Bank, and importers is essential to address bottlenecks. Open discussions to resolve import challenges and ensure smooth supply are critical. Ultimately, increasing supply is the only sustainable solution to stabilise prices.

Vendors at Mirpur Muslim Bazaar said that last Friday, potatoes were sold at Tk 80 per kg in various markets. This decreased by Tk 5 on Tuesday. The prices of winter vegetables have also decreased due to increased supply. Cauliflower, cabbage, and gourd pieces have decreased by Tk 5 to Tk 10. Tomatoes are being sold at Tk 130 to Tk 140 per kg, down from Tk 160 last week. Similarly, carrots are being sold at Tk 80 to Tk 110 per kg, compared to Tk 140 to Tk 150 last week.

The price of eggs has decreased by Tk 5 to Tk 145 per dozen. Shamsul Alamin, the proprietor of Bikrampur Dim Bhandar, said that the supply of winter vegetables in the market has increased, reducing pressure on egg prices. Last week, eggs were sold at Tk 150 per dozen, but since last Wednesday, they are being sold at Tk 145.

Traders said that the price of onions has decreased by Tk 10 per kg in a week. Local onions are being sold at Tk 120 per kg, while imported onions are being sold at Tk 110. Similarly, gram is being sold at Tk 125 to Tk 140 per kg, and sugar is being sold at Tk 125 to Tk 135 per kg.

Beef is being sold at Tk 750 to Tk 780 per kg, and mutton at Tk 1100 per kg. Broiler chicken is being sold at Tk 175 to Tk 195 per kg, cock chicken at Tk 290, and local chicken at Tk 550 to Tk 570 per kg. Depending on size and weight, per kilogram of hilsa fish is being sold for Tk 800 to Tk 2200, pabda Tk 400 to Tk 800, shing Tk 400 to Tk 1200, tengra Tk 500 to Tk 800, boal Tk 500 to Tk 900, kajli fish Tk 800 to Tk 1200, rui Tk 350 to Tk 450, katal Tk 400 to Tk 600, kalibaush Tk 500 to Tk 800, and kachhki Tk 400.



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