14.12.2023 (The Business Post) - Retailers attribute the increase to higher prices set by oil companies.

This sudden surge follows recent price rises for other essential goods, including onions, potatoes, eggs, chicken, garlic, and green chillies, further burdening already-strained household budgets.

With Ramadan still two and a half months away, consumers fear prices may not decrease before the holy month, adding further financial pressure to low and middle-income families.

While the supply of various vegetables, including onions and potatoes, has increased in key Dhaka markets like Shantinagar, Khilgaon, Malibagh, Maniknagar, and Segunbagicha, contributing to price stability for these items, the situation is different for edible oils and five other products.

In the capital's retail markets, loose soybean oil was sold at Tk 155-160 per litre on Thursday, compared to Tk 150-155 a week ago. Bottled soybean oil prices also rose, reaching Tk 168-170 per litre, up from Tk 165-170 a week prior. Loose palm oil was sold at Tk 130-140 a litre, compared to Tk 125-135 a week ago.

On September 14th, the government set prices for six essential products to stabilise the market.

The maximum retail prices were established at Tk 36 per kg for potatoes, Tk 12 per egg, Tk 65 per kg for onions, Tk 169 per litre for bottled soybean oil, and Tk 159 per litre for loose soybean oil.

This decision came from a review meeting held by the Ministry of Commerce, addressing the production, demand, and price situation of daily agricultural essentials.

However, despite government intervention, fluctuations continued in other sectors.

Prices for sugar, lentils, and flour displayed an upward trend, with sugar ranging from Tk 145-150 per kg, loose flour selling between Tk 45-50 per kg, and packet flour reaching Tk 60-65 per kg.

Poultry prices also saw adjustments. Farm eggs experienced a slight increase of Tk 2-3 per hali (four pieces) over the past week, with retail prices reaching Tk 42-45 per hali.

Similarly, broiler chicken prices increased by Tk 10, now costing Tk 180-190 per kg, compared to Tk 170-180 previously.

Vegetable prices, however, presented a mixed picture. While the arrival of new onions in the market led to a modest price decrease, with new onions selling at Tk 80-100 per kg and onions with leaves at Tk 50-60 per kg, the price of old local onions remained unchanged at the higher range of Tk 170-190 per kg. Imported onions also maintained their price point of Tk 120-130 per kg.

Garlic, however, joined the rising cost trend, with both imported and local varieties experiencing a jump of Tk 30-50 per kg over the past week, pushing their retail prices to Tk 250-270 per kg.

Green chillies followed suit, increasing from Tk 100-120 per kg to the current range of Tk 120-140 per kg.

https://businesspostbd.com/national/edible-oil-price-increases-by-tk5-per-litre