Prices of non-brand edible oil defy govt-fixed cap
Naim-Ul-Karim | Friday, 11 July 2008
Prices of non-brand edible oil remained unchanged Thursday at their previous highs at the retail level amid lax government monitoring despite setting a cap on their wholesale rates earlier on Wednesday.
In a meeting between the officials of the Directorate General of Forces Intelligence (DGFI) and the edible oil importers and traders in Chittagong the maximum wholesale prices of soyabean oil and palm oil were fixed at Tk 112 per litre and Tk 100 per litre respectively.
But retailers in the capital city said prices of the edible oil remained unchanged at their previous highs at the wholesale level.
Showing sale receipts, Md Swapan, a retail trader at Ananda Bazar in the city, told the FE Thursday: 'Today I bought palm oil at Tk 103.25 per from a wholesaler at Thathari Bazar.'
Another trader said prices of soyabean and super palm oil in the city's wholesale market were selling Thursday at Tk 118 and Tk 106.8 respectively, unchanged at their previous rates.
Mokter Hossain of Delwar Enterprise, a wholesale shop of edible oil in the city's Kaptan Bazar, said prices of edible oil at the wholesale level declined to some extent Thursday but it was yet to come down to the government-fixed rates.
'Prices of edible oil did not decline at the importers' level, so they are unable to sell the item at the rates fixed in the meeting,' he claimed.
At the wholesale level, he claimed prices of soyabean, super palm and palm oil were selling at Tk 116, Tk 106 and Tk 102 respectively against Tk 118, Tk 108 and Tk 102 a day ago.
Requesting to be unnamed, an importer said, 'The prices of edible oil fixed in the meeting are unrealistic. We can't sell at those rates.'
On Thursday, the non-brand soyabean and super palm oil were selling at Tk 122-Tk 125 and Tk 116-Tk 120 respectively in the city's retail market.
However, a large number of consumers alleged that there was no consistency in the prices of edible oil even in the shops under the same roof.
'One shopkeeper charged Tk 125 for soyabean oil while another demanded Tk 122,' a consumer said.
A number of consumers also alleged that many traders were selling super palm oil in the name of soyabean oil amid lax government monitoring.
'We're now fine as there is no monitoring on the market,' a trader at Moulavibazar said in a happy mood.
In a meeting between the officials of the Directorate General of Forces Intelligence (DGFI) and the edible oil importers and traders in Chittagong the maximum wholesale prices of soyabean oil and palm oil were fixed at Tk 112 per litre and Tk 100 per litre respectively.
But retailers in the capital city said prices of the edible oil remained unchanged at their previous highs at the wholesale level.
Showing sale receipts, Md Swapan, a retail trader at Ananda Bazar in the city, told the FE Thursday: 'Today I bought palm oil at Tk 103.25 per from a wholesaler at Thathari Bazar.'
Another trader said prices of soyabean and super palm oil in the city's wholesale market were selling Thursday at Tk 118 and Tk 106.8 respectively, unchanged at their previous rates.
Mokter Hossain of Delwar Enterprise, a wholesale shop of edible oil in the city's Kaptan Bazar, said prices of edible oil at the wholesale level declined to some extent Thursday but it was yet to come down to the government-fixed rates.
'Prices of edible oil did not decline at the importers' level, so they are unable to sell the item at the rates fixed in the meeting,' he claimed.
At the wholesale level, he claimed prices of soyabean, super palm and palm oil were selling at Tk 116, Tk 106 and Tk 102 respectively against Tk 118, Tk 108 and Tk 102 a day ago.
Requesting to be unnamed, an importer said, 'The prices of edible oil fixed in the meeting are unrealistic. We can't sell at those rates.'
On Thursday, the non-brand soyabean and super palm oil were selling at Tk 122-Tk 125 and Tk 116-Tk 120 respectively in the city's retail market.
However, a large number of consumers alleged that there was no consistency in the prices of edible oil even in the shops under the same roof.
'One shopkeeper charged Tk 125 for soyabean oil while another demanded Tk 122,' a consumer said.
A number of consumers also alleged that many traders were selling super palm oil in the name of soyabean oil amid lax government monitoring.
'We're now fine as there is no monitoring on the market,' a trader at Moulavibazar said in a happy mood.