The Commerce Ministry claims that it has approved the price hike after reviewing the international edible oil market price
The prices of essential cooking ingredients have become too expensive for consumers this week amid the extended lockdown due to Covid-19.
According to data provided by Trading Corporation Bangladesh (TCB), almost all types of daily commodities are now being sold at higher prices compared to the same period last year. Consumers have to spend an increased 1.67-75% per kilogram of product.
Amid the Covid-19 pandemic, consumers said that the rise in the price of edible oil has become unbearable.
The Commerce Ministry claims that it has approved the price hike after reviewing the international edible oil market price.
Additionally, importers said prices will not fall sharply unless the government moves away from imposing import duty on edible oil.
Also Read – Price hike of Tk13 more proposed for edible oil
In the last 4 months, the price of bottled soybean oil has gone up by Tk33 per litre. Last May 3, the price of bottled soybean oil was fixed at Tk141 with an increase of Tk2 per litre.
Bottled soybean oil was also priced at Tk100-105 per liter in the retail market last November. Adjusting with the international market, importer companies increased the price in January.
Hatem Ali, a retail edible oil seller at Hatirpol Kacha Bazar, said: “Edible oil prices have again gone up, one-liter soybean is being sold Tk145, five liters bottled is being sold at Tk685,”
Importers have increased the price due to the international market, although they bought this oil 4-6 months earlier at an old rate, he added.
Nurul Hossain, a customer at Hatirpool Kacha Bazar, said: “Edible oil prices have gone up again. It’s difficult to survive on a fixed income like this. Even after the supply of rice is replenished, the prices do not come down.”
Also Read – Edible Oil: How Bangladesh can cut import dependency
According to TCB, the price of medium and large lentils has gone up in the last week, increasing by 7.14% and being sold at Tk70 to Tk80 per kg.
The price of medium grain lentil pulses has increased by 2.94% and is being sold at Tk80 to Tk95 per kg.
Consequently, the price of potatoes has increased by 15.79% and is being sold at Tk19 to Tk25 per kg.
According to TCB, in the past week, domestic onions prices increased by 2.35%, imported onions by 6.67%, imported ginger by 2.33%, cumin by 2.78%, cloves by 2.86%, cardamom by 85%, and broiler chicken by 3%. Prices have risen by 85% overall.
Vegetable retailer Rakib Hossain said that prices have overall gone up and ranges depend on the size of the vegetables: tomato cost Tk52-60 per kg; pointed gourd Tk45-50, bitter gourd Tk55-60; eggplant Tk40-50; papaya Tk30-40; cucumber (hybrid) from Tk35-40; green chilies Tk40; potatoes usually sold at Tk15-20 are being sold for Tk30-35. Spinach seeds are being sold at Tk20-25.