Severe shortage of soybean oil in market, rice prices go down

There has been instability in the edible oil market in the country again. After the price of oil was increased by 8 BDT per liter in December last year, the government had announced that the price would not increase further. However, the reality is different. The supply shortage has deepened, and prices have increased. Amidst this situation, a new proposal to increase prices has been made by business owners to the government. Generally, during Ramadan, the demand for oil doubles. When demand increases, prices also rise. Business owners are preparing to raise prices again based on this formula. Meanwhile, the price of rice has decreased slightly this week compared to last week, following news of rice imports. Depending on the variety, the price of rice has decreased by 1 to 4 BDT per kilogram.

This information was gathered on Friday, February 7, after visiting major markets like New Market and Karwan Bazar in the capital and speaking with buyers and sellers.

Sellers have reported that there is a shortage of soybean oil in the retail market, and many buyers are leaving without purchasing oil. Currently, bottled soybean oil is being sold at 175 BDT per liter. The price of open soybean and palm oil is 157 BDT per liter. A 2-liter bottle of soybean oil is being sold for 350 BDT, and a 5-liter bottle is priced at 860 BDT.

This week, the price of coarse rice is between 52 to 55 BDT per kilogram, medium rice is between 58 to 64 BDT, fine rice is between 72 to 85 BDT, and BR-29 rice between 58 to 62 BDT.

Decrease in prices of potatoes, onions, and other vegetables

Now, most types of vegetables are priced under 50 BDT per kilogram in the market. After visiting several vegetable markets in the capital, it was found that the prices are as follows: Eggplant is priced at 25 to 30 BDT per kg, bitter melon (karela) at 60 BDT, carrots at 30 BDT, beans at 25 BDT, radish at 20 BDT, green chilies at 50 BDT, tomatoes at 20 to 30 BDT, sponge gourd at 50 BDT, local cucumber at 30 BDT, lablab beans at 60 BDT, okra at 50 BDT, pumpkin at 40 BDT, and cauliflower (big size) is being sold in pairs at 30 to 40 BDT.

Due to good supply, the prices of potatoes and onions have decreased. New potatoes are being sold at 20 to 25 BDT per kilogram, while new onions are selling for 40 BDT per kilogram. Garlic is priced at 240 BDT per kg, and local ginger at 130 BDT per kg.

The supply of fish in the market is also good. Compared to last week, prices have decreased slightly, although river fish prices have risen. Currently, the price of medium-sized farmed Rui fish is 300 to 320 BDT per kilogram, farmed Pangas fish is priced between 180 to 200 BDT per kilogram, tilapia at 200 BDT, koi fish at 150 BDT, singh fish at 500 BDT, pabda at 350 BDT, shrimp at 700 to 800 BDT, and local mix fish is priced at 500 BDT per kg. A 1 kg Hilsa fish is being sold for 2400 to 2500 BDT. The price of eggs has also decreased, with farm chicken eggs selling at 130 to 135 BDT per dozen.

The price of broiler chicken remains normal, with the price ranging from 190 to 200 BDT per kilogram. Golden variety chicken is being sold for 320 to 350 BDT. The price of beef is between 780 to 800 BDT per kilogram, while goat meat is priced at 1,100 to 1,200 BDT per kilogram.

Shilpi Begum, a shopper at the Moakhali vegetable market in the capital, said, “The price of vegetables is decreasing. We are able to buy according to our needs. However, the prices of essential items remain the same. If the price of oil decreases, it would benefit middle-class families like ours.”

Mohammad Russell Shikdar, a dealer of a renowned edible oil brand at Kawran Bazar, said, "My daily requirement is 200 cartons of oil, but I only received 110 cartons. These run out within a day." He complained, "I had deposited advance money to the company, but they are not supplying the correct amount of oil. How can we continue our business if the oil shortage continues in the market?"