Sadrul Ain:
Consumers are panicking about the 'soybean oil' market during Ramadan. The soybean oil market, which has been in a supply crisis for almost two months, has not yet returned to normal.
In this situation, the holy month of Ramadan is starting tomorrow. How will the supply of this essential product be, will it be available properly, and even if it is available, what will the price be - these questions are now swirling in the minds of consumers.
Market people said that during the holy month of Ramadan, the market for almost all daily necessities, from sugar, chickpeas, and dates, has remained stable. The imports of these products have also been adequate. Even soybean oil has been imported more than the demand.
So why do we have to face this situation? Meanwhile, the prices of fish, chicken, lemons, cucumbers, and eggplant have increased slightly in the market on the occasion of Ramadan.
This picture of the prices of various daily necessities was found when I went to check on the spot in various markets in the capital on Friday. Retailers in the market complained about the irregular supply of soybean oil. They said that the company's dealers are not supplying enough oil. Not only that, they are also adding conditions for buying various products along with bottled soybeans.
The National Consumer Rights Protection Department, a government agency that works on consumer rights, recently monitored four markets in the capital. The monitoring found that dealers and wholesalers have reduced the supply of soybeans to the retail market, which has reduced the supply of oil to retail stores.
In addition, it has been found that retailers are adding conditions for buying other products along with oil. Consumers' question - why is no action being taken against the cycle behind this crisis so far?
It is worth noting that a few years ago, soybean oil suddenly disappeared from the market on the day before Eid. Then, after Eid, when the price of soybeans was increased, it returned to the market. So, has the syndicate reduced the supply of oil in the market to increase the price of soybeans this time too?
According to a report by Bangladesh Bank, 598,252 metric tons of soybean oil were imported during the October-January period, which is 34 percent more than the same period last year. But it has not had any positive impact on the market.
Prices are being increased in stages citing supply shortages. The price of soybean oil also increased at the beginning of this week. According to the government's marketing agency, Trading Corporation of Bangladesh (TCB), last Friday, soybean oil was sold at Tk 185 to 190 per liter in the retail market of the capital, which is Tk 5 more per liter than the previous week.
Two-liter bottled soybeans are being sold at a price of Tk 2 to Tk 5, increasing from Tk 350 to Tk 355, and one-liter bottled soybeans are being sold at a price of Tk 175 to Tk 178, increasing by Tk 2.
Consumers Association of Bangladesh (CAB) Vice President SM Nazer Hossain said, "There has been instability in the edible oil market for quite some time. The supply has not yet normalized. The government should conduct a strict campaign in the market before Ramadan and throughout the entire month of Ramadan."
Meanwhile, the Ministry of Commerce has increased its supervision of the soybean market in this situation. After joining the Ministry of Commerce as Commerce Secretary, Mahbubur Rahman said in a meeting with the heads of organizations under the relevant ministry on Wednesday, 'Price control is now the government's priority. The programs that have been taken to keep consumers comfortable during the month of Ramadan will be implemented properly.'
Meanwhile, the prices of beef, chicken, fish, lemon, cucumber and brinjal increased in the market yesterday before the start of Ramadan. In the past week, the price of broiler chicken increased by 10 to 20 taka per kg, and the price of golden chicken was seen at 200 to 210 taka per kg and 280 to 310 taka per kg. In addition, beef was sold at 750 to 800 taka per kg, which is 20 to 30 taka per kg more than last week.
Along with meat, all types of fish have been seen selling at a price of 10 to 20 taka per kilogram in the market.
The prices of lemons, cucumbers and brinjals have increased. A visit to the market showed that lemons, which were priced between 20 and 40 taka two weeks ago, are being sold for 40 to 100 taka yesterday. In addition, brinjals are being sold for 40 to 65 taka per kg, hybrid cucumbers for 50 to 60 taka and local cucumbers for 80 to 100 taka, which is 10 to 20 taka more per kg than last week.
The 'fire feeling' that is present in the daily commodities market every year before Ramadan is gone this time. Except for soybean oil and one or two other products, the market for other products including dates, sugar, chickpeas and others has remained stable so far.
A report by Bangladesh Bank said that sugar imports increased by 20 percent to 454,034 metric tons in the four months from October to January compared to the same period in the previous fiscal year.
During the period under review, imports of pulses increased by 44 percent to 1,57,837 metric tons. Imports of chickpeas were 97,555 metric tons, which is 64 percent more than the same period of the previous fiscal year. Imports of peas and lentils increased by the highest 85 percent during the period under review to 2,2845 metric tons. Imports of onions increased by 2 percent to 2,80,611 metric tons.
Garlic imports have increased by 20 percent. From October to January, 61,381 metric tons of the product were imported. Ginger imports increased by 56 percent to 52,515 metric tons. As a result, there is no shortage of any product. Prices are also stable.
Several traders in the market yesterday said that buyers rushed to shop at the market at the beginning of Ramadan, which led to a sudden increase in demand for various products in the market.
As a result, prices also increase. If you don't buy more than you need, the prices of all products will return to normal within a week of Ramadan.
