Daily Sun (08/04/2026) - Prices of edible oils have surged by as much as Tk19 per litre in just 15 days in Chattogram, while a supply shortage, particularly of bottled soybean oil, is adding pressure to an already volatile consumer market.

The upward trend, which began ahead of Eid-ul-Fitr, has continued unabated after the holidays, affecting both wholesale and retail markets and contributing to broader instability in essential commodity prices.

Traders attribute the price hike to rising international market rates, increased shipping costs, and a slowdown in opening letters of credit (LCs) for imports.

They warn that without prompt government intervention to adjust prices, sustaining imports may become increasingly difficult.

At Khatunganj, the country’s largest trading hotspot, loose soybean oil was sold at Tk185–Tk190 per litre on Tuesday, up from Tk180–185 two weeks ago.

The price of palm oil rose to Tk175 per litre from Tk156, while “super” palm oil increased to Tk180 from Tk162 during the same period.

The impact has been more evident in retail markets. In areas such as Bahoddarhat and Chawk Bazar, loose soybean oil is now being sold at Tk200–Tk207 per litre, while palm oil is priced at Tk183–Tk185 and super palm oil at Tk188–Tk192.

Meanwhile, a shortage of bottled soybean oil has forced consumers to turn to loose oil.

Mohammad Ismail, a resident of Kalamia Bazar, said he had to switch to loose oil due to limited availability of smaller bottled options.

“We usually consume bottled soybean oil, but most shops only have five-litre bottles. Now, even loose oil prices are going up continuously,” he said.

Ranjit Sen, owner of Mitali Traders at Khatunganj, said although global booking prices have increased slightly due to ongoing geopolitical tensions, the recent surge in the local market appears abnormal.

“Repeated trading of previously purchased stock is destabilising the market,” he said, adding that without a government-led price revision aligned with import costs, further price escalation is likely.

Price adjustment necessary, say traders

In a recent letter to the Ministry of Commerce, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association warned that maintaining a steady supply would be difficult without revising prices under the existing government formula.

The association noted that the last price adjustment was made on 8 December last year, when the international benchmark stood at $1,100 per tonne. Since then, global prices have risen by nearly $300 per tonne.

Despite incurring losses, importers have continued supplying the market at the government’s request.
However, they cautioned that the current price levels in the international market may render continued imports unsustainable without immediate adjustments.

According to the National Board of Revenue (NBR), Bangladesh imported nearly 7 lakh tonnes of soybean and palm oil during the first three months of 2026, in addition to 4.45 lakh tonnes of refined palm oil.

Data from the Food and Agriculture Organisation (FAO) shows that global edible oil prices rose by 5.1% in March, marking a third consecutive monthly increase.

Palm oil prices, in particular, have reached their highest level since mid-2022, driven by increased demand for biofuels amid rising fuel prices and a decline in production.

Consumers Association of Bangladesh (CAB) Vice Chairman SM Nazer Hossain urged the government to reassess the current pricing structure based on existing stock levels, projected demand, and market realities.

Spice market also feels the heat

Prices of imported spices have also increased, largely due to disruptions linked to ongoing conflicts in the Middle East, traders said.

At Khatunganj, Iranian cumin was selling at Tk720 per kg on Tuesday, up by Tk100. Nutmeg prices rose by Tk150 to Tk720, while mace increased by Tk100 to Tk2,800 per kg.

Saffron recorded the sharpest rise, jumping by nearly Tk3 lakh per kg. Depending on quality, it is now being sold between Tk4.20 lakh and Tk4.5 lakh per kg, compared to Tk1.30 lakh–Tk1.50 lakh before the escalation.
Cardamom prices currently range from Tk4,200 to Tk5,000 per kg depending on quality.

Pistachio prices have also surged by Tk1,000 per kg within two weeks, now selling at Tk4,100. Dried plums (alu bukhara) have more than doubled to Tk1,320 per kg from Tk500, while raisins have risen by Tk200 to Tk820 per kg.

Other spice prices include Indian cumin at Tk575 per kg, Chinese cinnamon at Tk365, and Indonesian cloves at Tk1,230.

However, prices of onions, garlic, and ginger have continued to decline due to adequate supply.

Local onions were selling at Tk20–Tk25 per kg at Khatunganj, while local garlic ranged between Tk35–Tk65 and imported garlic between Tk120–Tk122 per kg.

Local ginger was priced at Tk70–Tk80 per kg, while Chinese ginger was selling at Tk90–Tk100.

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