Al Amin :
Prices of different brands of edible oil have been increased by Tk 6-10 per litre, price of egg rose Tk 5 per dozen affecting the consumers while onion prices reduces.
Traders said that the prices of the edible oil is increasing as US dollar is gaining over taka and the government increased 5 percent Advance Tax (AT).
Visiting different kitchen markets in the city, this correspondent found that both loose and bottled soybean oil prices have been increased by Tk 6-10 a litre in the retail and wholesale markets across the country.
Most of the companies started supplying bottled oil with new price tags from Wednesday evening, said grocers.
Bottled soybean of Teer, Pusti and Bashundhara brands were selling at Tk 108- Tk 110 a litre on Friday against Tk 98-Tk 100 a litre earlier.
Previously-bottled Rupchanda soybean oil, a brand of Bangladesh Edible Oil Ltd (BEOL), was sold at Tk 110 a litre while their new bottle would be sold at Tk 117, Fuhad Hossain, a grocer at Madhu Bazar, Dhanmondi-15, said.
Hossain said few grocers had old stocks which would les for few more days and then they would have to purchase bottles with new price tags.
Loose soybean oil prices increased to Tk 90-Tk 92 a litre while super palm reached Tk 78-Tk 80, palm oil normal Tk 76-Tk 77 a litre on Thursday, up by Tk 6.0-7.0 in a week, said Hossain.
The state-run Trading Corporation of Bangladesh (TCB) recorded 4.0 to 13.5 per cent hike in edible oil prices in the last seven days.
Nurul Islam, Secretary of Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association, said that depreciation of the Bangladesh taka (BDT) against the US dollar and an increase in the global prices forced them to raise the prices.
He said it cost them Tk 90.5 to Tk 91 for dollar against Tk 84-Tk 85 even three months back.
He said the government is realising 5.0 per cent Advance Tax (AT) from them from this financial year while they are paying VAT in three stages-import stage, production stage and marketing level.
“We sent a proposal to the Bangladesh Tariff Commission last month to raise the price of edible oil” he said.
Biswajit Saha, director (legal and regulatory affairs) of City Group, which markets edible oil brand Teer, said, “We did not raise the price of edible oil but it will increase owing to US dollar gaining over taka.”
“We did not raise the price. However, the cost of production is rising. As a result, we have withdrawn the discount on edible oil prices from distributors and wholesales traders,” said Asif Iqbal, deputy managing director FMCG of Meghna Group of Industries, which markets edible oil brand Fresh.
Housewife Shahanaj Begum went to the Shukrabad kitchen market and bought a five-litre Teer edible oil for Tk460, which she had bought for Tk450 a few days ago.
“There is no monitoring. As a result the price of essential commodities is rising day by day. We are helpless,” Shahanaj lamented.
An official at the commerce ministry said a meeting might be held on the matter at the ministry on December 29. According to the commerce ministry, the country’s annual demand for edible oil is 2.2 million tonnes, of which it imports 1.9 million tonnes.
Meanwhile, prices of onion reduced by Tk 10-Tk 20 in a week as the supply of local onions have been increased.
Local newly harvested onion was selling at Tk 90-110 a kg at the retail level on Thursday. Imported varieties were selling at Tk 50-Tk 90 a kg based on quality.
Prices of local and Sonali chicken increased by Tk 20-Tk 50 a kg which traders attributed to the upcoming New Year Eve. Local chicken was selling at Tk 480-Tk 600 and Sonali at Tk 240-Tk 270 a kg.
Farm egg price has been increased by Tk 5 per dozen in the city’s retail markets while prices of most of the fish increased by Tk 20-Tk 100 a kg.
Prices of different brands of edible oil have been increased by Tk 6-10 per litre, price of egg rose Tk 5 per dozen affecting the consumers while onion prices reduces.
Traders said that the prices of the edible oil is increasing as US dollar is gaining over taka and the government increased 5 percent Advance Tax (AT).
Visiting different kitchen markets in the city, this correspondent found that both loose and bottled soybean oil prices have been increased by Tk 6-10 a litre in the retail and wholesale markets across the country.
Most of the companies started supplying bottled oil with new price tags from Wednesday evening, said grocers.
Bottled soybean of Teer, Pusti and Bashundhara brands were selling at Tk 108- Tk 110 a litre on Friday against Tk 98-Tk 100 a litre earlier.
Previously-bottled Rupchanda soybean oil, a brand of Bangladesh Edible Oil Ltd (BEOL), was sold at Tk 110 a litre while their new bottle would be sold at Tk 117, Fuhad Hossain, a grocer at Madhu Bazar, Dhanmondi-15, said.
Hossain said few grocers had old stocks which would les for few more days and then they would have to purchase bottles with new price tags.
Loose soybean oil prices increased to Tk 90-Tk 92 a litre while super palm reached Tk 78-Tk 80, palm oil normal Tk 76-Tk 77 a litre on Thursday, up by Tk 6.0-7.0 in a week, said Hossain.
The state-run Trading Corporation of Bangladesh (TCB) recorded 4.0 to 13.5 per cent hike in edible oil prices in the last seven days.
Nurul Islam, Secretary of Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association, said that depreciation of the Bangladesh taka (BDT) against the US dollar and an increase in the global prices forced them to raise the prices.
He said it cost them Tk 90.5 to Tk 91 for dollar against Tk 84-Tk 85 even three months back.
He said the government is realising 5.0 per cent Advance Tax (AT) from them from this financial year while they are paying VAT in three stages-import stage, production stage and marketing level.
“We sent a proposal to the Bangladesh Tariff Commission last month to raise the price of edible oil” he said.
Biswajit Saha, director (legal and regulatory affairs) of City Group, which markets edible oil brand Teer, said, “We did not raise the price of edible oil but it will increase owing to US dollar gaining over taka.”
“We did not raise the price. However, the cost of production is rising. As a result, we have withdrawn the discount on edible oil prices from distributors and wholesales traders,” said Asif Iqbal, deputy managing director FMCG of Meghna Group of Industries, which markets edible oil brand Fresh.
Housewife Shahanaj Begum went to the Shukrabad kitchen market and bought a five-litre Teer edible oil for Tk460, which she had bought for Tk450 a few days ago.
“There is no monitoring. As a result the price of essential commodities is rising day by day. We are helpless,” Shahanaj lamented.
An official at the commerce ministry said a meeting might be held on the matter at the ministry on December 29. According to the commerce ministry, the country’s annual demand for edible oil is 2.2 million tonnes, of which it imports 1.9 million tonnes.
Meanwhile, prices of onion reduced by Tk 10-Tk 20 in a week as the supply of local onions have been increased.
Local newly harvested onion was selling at Tk 90-110 a kg at the retail level on Thursday. Imported varieties were selling at Tk 50-Tk 90 a kg based on quality.
Prices of local and Sonali chicken increased by Tk 20-Tk 50 a kg which traders attributed to the upcoming New Year Eve. Local chicken was selling at Tk 480-Tk 600 and Sonali at Tk 240-Tk 270 a kg.
Farm egg price has been increased by Tk 5 per dozen in the city’s retail markets while prices of most of the fish increased by Tk 20-Tk 100 a kg.
