Edible oils still retail at almost previous high level despite the government's latest cuts in value-added tax (VAT) and heightened monitoring of the supply chain.
Market sources said the wholesale price of loose edible oil witnessed a slight decline on Friday but it was still much higher than the government-fixed rate.
On Thursday, the government decided to relieve imported oil of taxes following calls from commerce ministry and the apex trade body FBCCI.
"To keep prices of essential commodities at a tolerable level, we've lifted VAT on some items today," finance minister told the media after a meeting of the cabinet committee on public purchase on Thursday.
According to refiners, the government realises 35-per cent VAT on imported edible oil-first 15 per cent at import stage, then 15 per cent at production (refining) stage and 5.0 per cent at trading stage.
This VAT was the same in 2019 when edible oil was below $800 per tonne globally which has increased to a staggering $1,800 in 2022, said a refiner.
However, loose palm oil retailed at Tk 160-165 a litre, loose soybean (though supply was limited) at Tk 180 a litre (Tk 200 a kg) and bottled oil at Tk 175-180 in groceries on Friday, same price a week back.
Edible Oil Wholesalers Association president Md Golam Mawla told the FE that traders reduced wholesale price by Tk 90-100 a maund (nearly 41 litres).
Refiners need to supply products in time at mill-gates which could help reduce the price notably, he says.
According to Mr Mawla, wholesalers are giving damages of Tk 18,000-20,000 per truck for delay in supply by refiners.
Meanwhile, commoners' anguish further intensified last week with the skyrocketing trend of vegetable prices in a volatile commodity market.
Prices of many vegetables shot up to even Tk 90-160 a kg in the market making those 'out of reach' of the city poor, according to market insiders.
A supply crunch in March due to 'transition of vegetable season' as well as rising transport costs were key reasons behind this hike in veggie prices, said supply-chain experts.
All kinds of chicken and fish also became pricier further last week, augmenting consumer sufferings.
Bitter gourd, a summer harvest, became the dearest on Friday as it retailed at Tk 130-160 a kg.
Newly-cropped long yard bean sold at Tk 90-120 a kg based on quality while seasonal tomato witnessed a hike of Tk 15 in price a kg as sold at Tk 50-60.
Early-harvested summer vegetables like sponge gourd and ridge gourd retailed at Tk 70-90 a kg and summer brinjal at Tk 55-70 on the day, said vendors.
Cucumber price shot up to Tk 80-90 a kg from Tk 50-60 a kg few days back.
All kinds of green leafy vegetables witnessed a price hike of Tk 5.0 a bunch at retail level.
Taheer Islam, a veggie trader at Rayerbazar Sadeq Khan Agricultural Market in the city, said demand for veggies like bitter gourd increased notably among families infected with chicken pox recently.
March is the transitional month for vegetable as supply of winter crops stops and harvests of seasonal summer crops starts this month, he added.
The supply of the summer vegetables has not increased than demand yet, according to Mr Islam.
He said both production and transport costs have also fuelled up for a diesel price hike which could keep vegetable prices up for the rest of this summer.
Edible oil still remained higher at Tk 160 (palm oil) and Tk 181 (soyabean) a litre against the government-fixed rates of TK 133 and Tk 168 respectively.
However, chicken prices witnessed a price hike of Tk 10-50 a kg as broiler sold at Tk 160-165, Pakistani at Tk 310-340, indigenous at Tk 480-530 on Friday.
All cultured fish prices have witnessed a further hike of Tk 30-50 in prices a kg in the past seven days.
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