bdnews24.com :
A downward adjustment of bottled soybean oil prices at the wholesale level two weeks ago is yet to be reflected at the retail level.
Shops at different kitchen markets in capital Dhaka were found selling the commodity at higher-than-fixed rates on Friday.
Companies refining the oil claim they reduced prices of soybean oil early this month following a fall in the prices of the 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.
Prices of same brand and same quantity of oil varied widely at Maniknagar kitchen market.
Hazi Confectionery and Mehedi Store were selling a five-litre container of Teer brand oil at Tk 565 while the price of it at Mayer Doya Store was Tk 540 and at Shamim Traders Tk 505, the rate fixed by the refiner, City Group of Companies.
The variation in prices of Fresh, Rupchanda and Viola brand oil were also noticed.
City Group General Manager Biswajit Saha said they fixed prices of bottled one-litre oil at Tk 94 at the factory level and Tk 102 at the retail level.
The factory price for five-litre oil had been fixed at Tk 465 and retail price at Tk 505, he added.
Before the latest adjustment, price of one-litre oil was Tk 113-116 and five-litre Tk 560-565 at the retail level.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the retailers not to charge the consumers higher-than-fixed rates of oil.
A downward adjustment of bottled soybean oil prices at the wholesale level two weeks ago is yet to be reflected at the retail level.
Shops at different kitchen markets in capital Dhaka were found selling the commodity at higher-than-fixed rates on Friday.
Companies refining the oil claim they reduced prices of soybean oil early this month following a fall in the prices of the 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.
Prices of same brand and same quantity of oil varied widely at Maniknagar kitchen market.
Hazi Confectionery and Mehedi Store were selling a five-litre container of Teer brand oil at Tk 565 while the price of it at Mayer Doya Store was Tk 540 and at Shamim Traders Tk 505, the rate fixed by the refiner, City Group of Companies.
The variation in prices of Fresh, Rupchanda and Viola brand oil were also noticed.
City Group General Manager Biswajit Saha said they fixed prices of bottled one-litre oil at Tk 94 at the factory level and Tk 102 at the retail level.
The factory price for five-litre oil had been fixed at Tk 465 and retail price at Tk 505, he added.
Before the latest adjustment, price of one-litre oil was Tk 113-116 and five-litre Tk 560-565 at the retail level.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the retailers not to charge the consumers higher-than-fixed rates of oil.
