Soybean oil bottles vanish from the market even before the month of Ramadan arrives. Despite a recent price increase, soybean oil bottles are still unavailable in the market with around a month and a half till Ramadan. A group of dishonest businessmen are allegedly manipulating oil prices in advance of Ramadan. The Rajshahi and Chattogram oil markets have seen the same pattern.
Soybean oil bottles vanish:Â Local dealers have been accused by buyers and general traders of fabricating a shortage by hoarding oil in an attempt to increase their revenues during Ramadan. Many sellers are exacting various requirements even though they are only providing a limited amount of oil compared to the demand. For example, in order to purchase a 5-liter bottle of oil, the merchant must also sell six kilograms of salt or other goods. If the conditions are not met, the oil is not being sold.
A visit to a number of markets in Rajshahi’s Saheb Bazaar on Tuesday, January 21, showed that, prior to December, a one-liter bottle of soybean oil cost 167 BDT, while a five-liter bottle cost 818 BDT. At the moment, a one-liter bottle should cost 175 BDT, and a five-liter bottle should cost 875 BDT. Even at these costs, Rajshahi does not have access to soybean oil.
Oil dealer Abhi Karmakar stated, “Before the price increase, bottled soybean oil had completely disappeared from the market. Soybean oil was accessible in some stores after the price hike, but it is now out of stock even at the increased price. One-liter bottles cost 175 BDT at the RDA Market’s supermarket outlets. Loose soybean oil sells for 176 BDT per liter, which is more expensive than bottled soybean oil.”
The identical scenario was also noticed in Chattogram’s markets. Along with the scarcity of bottled soybean oil, loose soybean oil is also in low supply in Chattogram marketplaces.
Traders claim that the current crisis was produced artificially to drive up prices. They have demanded immediate action to stabilize the soybean oil market ahead of the holy month of Ramadan.
Ehsan Ullah Jahedi, former General Secretary of the Chaktai-Khatunganj Traders Association, stated that “the soybean oil shortage in Chattogram’s market persists.” Along with the scarcity of bottled soybean oil, loose soybean oil is also in short supply. However, to guarantee that this shortfall does not persist during Ramadan, he has urged the government to act swiftly.”
Soybean oil bottles vanish.. Soybean oil bottles vanish.. Soybean oil bottles vanish
