Oil, sugar shortages persist with high egg prices

Consumers are finding no relief from the prices of essential commodities in the market. Adding to their woes, soybean oil and sugar are now facing fresh supply shortages as those are being sold at prices higher than their maximum retail prices (MRPs).

A visit to local markets found that a 1kg packet of sugar, which has an MRP of Tk 110, is now being sold for Tk 120 at most shops.

A 1-litre bottle of soybean oil is being sold for Tk 210 instead of Tk 204. In some places, packet sugar and bottled soybean oil are unavailable. Loose oil and sugar are being sold at the same prices as their packaged counterparts.

Egg prices have also remained high, adding to consumers’ difficulties as they are forced to pay more for essential goods.

While visiting to several retail markets in Rampura, Hajipara, Malibagh, Segunbagicha and Moghbazar in the capital on Friday ,those situation was observed.

The supply shortage of soybean oil has persisted for several weeks. Retailers said the supply of bottled soybean oil in the retail market is low.

In many cases, shops that have oil are keeping it out of customers’ sight and selling it at higher prices when an opportunity arises.

At Shaheen Super Shop on Road 7 of the DIT Project in Merul Badda, a 1-litre bottle of soybean oil was seen being sold for Tk 210, although the bottle carries an MRP of Tk 204.

The Ministry of Commerce recently approved an increase in the price of soybean oil. Even after the increase, traders have demanded another price hike. Traders have reportedly contacted the Bangladesh Trade and Tariff Commission and the Ministry of Commerce to seek a further price adjustment, citing rising edible oil prices in the international market.

Sales representatives have said companies will not properly restore the supply of oil to retailers until another price increase is approved.