Soybean oil still dearer

A downward adjustment of bottled soybean oil prices at the wholesale level a couple of weeks ago is yet to be reflected at the retail level. Shops at different kitchen markets in Dhaka city were found selling soybean oil on Friday and Saturday at higher-than-fixed rates. Companies refining the edible oil claim they reduced prices of soybean oil early this month following a fall in the prices of the essential commodity in the international markets. Retailers, however, say sales representatives of several companies have asked them to sell off their old stocks of soybean oil at the revised prices without specifying how the retailers’ losses will be adjusted. Consumers alleged they could not get the benefit of the price cut due to lack of market regulation by the government, according to a news agency.