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Soybean oil is being sold at higher prices in Dhaka markets despite traders receiving a show-cause notice from the authorities after announcing new rates without government approval.
Bottles bearing the updated printed prices have already reached shops.
On Friday at Mohakhali kitchen market, both old-price and new-price bottles were on display.
"We have bottled cooking oil at both old and new prices," said Rajib Hossain, a grocer at the kitchen market.
Rajib Hossain, owner of Rajib General Store, said customers are being allowed to choose which price they want to pay.
"We still have bottles at the old rate. Whoever wants the new one will get the new rate, whoever wants the old one will pay the previous rate. We cannot argue with customers, so we are keeping both," he told bdnews24.com.
Under the earlier rate, a one-litre bottle was selling for Tk 189. The revised rate adds Tk 9, taking the price to Tk 198.
A five-litre bottle has risen from Tk 922 to Tk 965.
The two-litre bottle has increased by Tk 8 to Tk 396.
The rise in the price put consumers and sellers in trouble.
Masud Rana, a worker at Shahriar Varieties Store in the same market, said they had no option but to comply with the higher wholesale rate.
"What can we do? There is no reason, no explanation. They suddenly raised the price. If we bring it at a higher cost, we must sell it at a higher price," he added.
The price hike comes just a day after Commerce Advisor Sheikh Bashir Uddin told the media that the government served show-cause notice on the traders who had earlier announced to increase the oil price without the government's approval.
He said traders were also invited for talks over the matter.
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association had announced on Oct 14 their decision to raise edible oil prices.
The planned increase was Tk 6 per litre for bottled soybean oil and Tk 8 per litre for loose oil.
The government did not approve the revised rates. Advisor Bashir said importers and marketing companies raised prices without notifying the authorities.
The price of a kg of local onion was increased by Tk 10, currently selling at Tk 140.
"Onion price is supposed to drop during winter. A kg of onion should have cost a maximum of Tk 80," said Idris Ali, a consumer interviewed at Mohakhali kitchen market.
Winter vegetables, on the other hand, continued to sell at high prices, which were supposed to fall with an increase in their supplies.
The local tomato price has remained at Tk 80 per kg. Kidney beans are sold at Tk 80 a kg, eggplants at Tk 100 and a piece of cauliflower at Tk 40.
The price of a kg of parsley was dropped by Tk 30. The price of a kg of green chili was reduced by up to Tk 40. The price of large tilapia has increased by up to Tk 70. The price of juvenile hilsa has also been increased by Tk 200 a kg.
https://thedailyexpress.news/news/business/1f0d33d4-b68f-61c0-9304-4ff84796efee