09/03/2008 (The New Nation, Bangladesh) - Common people have become frustrated as prices of essentials going up everyday in markets. Sufferings of people continue to increase with the rising prices of essentials. The government's initiative of controlling prices of essentials has broke down.

In spite of the fixing of selling prices of edible oil by the government, prices of soybean and palm oil have increased as many as seven times. The wholesalers have already informed the retailers that prices of soyabean and palm oil may increase once again in the next week.

The Ministry of Commerce at a meeting with importers and wholesalers on February 25 last fixed the prices of soyabean oil highest at Tk 106.50 per kg and palm oil highest at Tk 99.50 per kg. At the same time, Commerce Adviser Dr Hossain Zillur Rahman said the prices decided at the meeting would remain effective till today (March 9). The Commerce Adviser also informed that the prices of edible oil would again be re-fixed at a meeting with the leaders of Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association today. So, the oil importers and wholesalers were aware that the prices of both soyabean and palm oil would again be raised by the government. Dr Hossain Zillur Rahman said special emphasis was given on controlling the prices of essential items, including rice, edible oil, wheat and lentil. A high-level committee was also formed to monitor the prices of essentials in the market. Apart from monitoring the essential prices, the committee was asked to make prior plans to arrest the price hike of essentials. A special office is also being set up for this. But in reality there is no reflection of the government's initiative to control price hike of essentials. Mosaddeq Hossain, a trader of Karwan Bazar said the government is supposed to take the responsibility if the prices of edible oils would not go down. "How long we would get involved in altercations with customers,' he asked.

Visiting three kitchen markets of the city, it was found that the soyabean oil and palm oil were not selling at the prices fixed by the government. Non-packed soyabean was selling at Tk 110-115 per kg while plastic bottles of different brands containing 900 milliliters of soyabean oil each was selling at Tk 115-122.

In the last one week, prices of canned edible oil of different brands of five litres ranged between Tk 525 and Tk 530 against Tk 495-Tk 505 a month ago, traders said.

Apart from edible oils, prices of onion, lentil, sugar and powdered milk marked sharp increase in the market. Price of potato remained unchanged at Tk 14-Tk 15 per kg, while prices of onion shot up by Tk 7-8 per kg. Prices of local onion ranged between Tk 20 and Tk 22 per kg while the prices of Indian one remained unchanged at Tk 17-Tk 18 per kg.

Price of the finer variety of local lentil ranged between Tk81 and Tk 85 per kg against its previous rate at Tk 80-Tk 82. Prices of Nepalese and Turkish varieties of lentil also increased by Tk 2-Tk 3 per kg.

Retailers said though prices of powdered milk of different brands that on an average went up by at least Tk 10-Tk 35 recently remained almost unchanged during the last one week, a baby food item of Nestle increased by Tk 35 since March 1.

Prices of a number of key commodities including flour, sugar, rice and lentil soared again while prices of edible oil that marked sharp rise recently remained almost unchanged at the retail shops in the capital during the past one week, retailers said.

Price of poultry birds that came down to Tk 75 from Tk 85-Tk 90 per kg following lower demand because of news of outbreak of bird flu remained almost unchanged in the last one week.

Beef and mutton were selling at Tk 180-Tk 190 per kg and Tk 240-Tk 250 per kg respectively, unchanged from their previous prices a week ago.

Traders said prices of varieties of local and imported fish maintained an upward trend following their higher demand during the last one week.

Prices of large-size 'ruhi' (local) were Tk 200-Tk 220 per kg against Tk 170-Tk180 a week ago.