No impact of price fall of edible oil in local market
Our Correspondent | Monday, 11 August 2008
CHITTAGONG, Aug 10: Despite showing declining trend in price of edible oil in the international markets, it has not made any positive impact in the local market.
On the other hand, price of edible oil is on the rise in both wholesale and retail markets of Chittagong.
In the wholesale markets of Khatungonj, soyabean oil and palm oil are being sold at Tk 120 and Tk 112 per kg respectively.
Despite having a stock of 2,25,000 tonnes of edible oil, a section of dishonest importers and DO traders is trying to create unrest in the local markets ahead of the holy month of Ramadan.
Meanwhile, the government has fixed the price of each kg of soyabean at Tk 112 and that of palm oil Tk 100 respectively .
In this connection, mill owners and importers sources said, with the price of edible oil declining in the global markets , they are to count huge losses as they imported the commodity when prices were already up.
Concerned sources further said, while the holy month of Ramadan is drawing nearer, dishonest business syndicate, with an ulterior motive of making the markets instable , has reduced the transaction of DOs.
But the business sources assume, with the floating of DO of the edible oil in the markets, its price would come down.
Meanwhile , in a meeting held between Commerce Advisor and oil mill owners and importers, it has been resolved not to raise the price of the edible oil.
On the other hand, price of edible oil is on the rise in both wholesale and retail markets of Chittagong.
In the wholesale markets of Khatungonj, soyabean oil and palm oil are being sold at Tk 120 and Tk 112 per kg respectively.
Despite having a stock of 2,25,000 tonnes of edible oil, a section of dishonest importers and DO traders is trying to create unrest in the local markets ahead of the holy month of Ramadan.
Meanwhile, the government has fixed the price of each kg of soyabean at Tk 112 and that of palm oil Tk 100 respectively .
In this connection, mill owners and importers sources said, with the price of edible oil declining in the global markets , they are to count huge losses as they imported the commodity when prices were already up.
Concerned sources further said, while the holy month of Ramadan is drawing nearer, dishonest business syndicate, with an ulterior motive of making the markets instable , has reduced the transaction of DOs.
But the business sources assume, with the floating of DO of the edible oil in the markets, its price would come down.
Meanwhile , in a meeting held between Commerce Advisor and oil mill owners and importers, it has been resolved not to raise the price of the edible oil.