Edible oil shortage in Dhaka, prices of bottled and bulk oil increase

Due to the ongoing Middle East crisis, there has been a shortage of edible oil in various areas of the capital Dhaka. Buyers have complained that bottled oil is not available in many shops. At the same time, the prices of both bottled and bulk oil have increased slightly.

Sellers say that many consumers are buying more oil than necessary, fearing that prices may increase due to the war situation. On the other hand, the decrease in supply from companies has created a shortage in the market. As a result, bottled oil is running out quickly in many shops.

A visit to Mugda, Maniknagar, Malibagh and Moghbazar areas of the capital showed that the supply of 1 and 2 liter bottled soybean oil is comparatively low. While some well-known brands are in limited quantities, many unfamiliar brands have almost disappeared from the market.

A buyer named Sabuj, who came to buy oil in the Pukurpar area of ​​Maniknagar, said that he could not buy a one-liter bottle of oil even after visiting three shops. In the end, he had to buy bulk oil, the price of which has also increased.

A visit to the market revealed that the maximum retail price (MRP) of a 5-liter bottle of soybean oil is 955 taka. Earlier, the shopkeepers used to buy it from dealers for 930 taka and sell it for around 940 taka. But for the past few days, they have been buying it for 950 taka and selling it for 955 taka. As a result, the profits of the retailers have decreased and the consumers have to buy oil at a price of 5-10 taka more than before.

The price of open soybean oil has also increased. While it was previously sold at 195 to 198 taka per kg, it is now being sold at 200 to 205 taka in many shops.

According to the sellers, the supply of bottled oil has been relatively low for about a month. This crisis has intensified in the last few days. Due to the war situation in the Middle East, many buyers are buying more oil and hoarding it, which is increasing the shortage in the market.

However, the oil producing companies say that they have not reduced their supply. Taslim Shahriar, deputy general manager of Meghna Group of Industries, said that they supplied a large amount of oil in January and February and additional oil was imported to keep the supply normal during Ramadan.

On the other hand, Biswajit Saha, executive director of City Group, said that their organization has not reduced supply. Due to complications related to LC, some small companies are not able to import oil. Besides, this crisis may arise in the market due to increased demand during Ramadan and the tendency of some people to hoard.