Edible oil crisis: Blame game continues
Companies, wholesalers and retailers are blaming each other for the disappearance of edible oil from the market ahead of Eid-ul-Fitr.
Wholesalers and retailers say mill owners have not provided supplies in adequate quantities. On the other hand, companies say that some wholesale and retail shopkeepers have created an artificial crisis through hoarding with hopes of inflating prices.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) held a views-exchange meeting at its Motijheel office yesterday to review the import, stock, supply and price situation of edible oil. There businesspeople blamed each other.
But the traders agreed on one thing – to take in learnings from this oil crisis so that such a situation does not recur.
Abu Taher, a retailer in Dhaka's New Market, said no distributor provided a single bottle of soyabean oil to a retail trader like him for several days before Eid.
Companies artificially created a crisis in the market to raise the price, he said.
"We have been doing business for long, we have fixed customers. I couldn't give an answer to them. Those who were turned away from my shop before Eid got a negative impression about me," he said.
"But we didn't cut the supply. We delivered the same amount before Eid as I used to supply in the market in normal times. We assume there will be a stable market. But before Eid, the market became unstable," said Kazi Salahuddin Ahmed, senior general manager of S Alam Group.
He said oil was not available at the retail level before Eid. "None of us were prepared for this situation. Let's learn from this incident. We have enough oil in stock. As the price has been adjusted, the places where the oil is stored will be revealed," he said.
Golam Mawla, president of Bangladesh Wholesale Edible Oil Traders' Association, said, "If I don't get oil from the dealer, how can I supply it to the retailer? From millers, dealers, wholesalers, retail traders to the government, let us do whatever we commit to. We should not blame each other. Small and medium businesses like us face humiliation from consumers because of the dealers not supplying oil."
Zahirul Haque Bhuiyan, general secretary of Bangladesh Shop Owners' Association, said, "We had warned traders about the edible oil crisis from the very beginning. Just before Eid, a few retail traders who stocked oil did immoral things. I think action should be taken against them according to the law."
FBCCI President Jashim Uddin said there was oil but it was not available in retail stores before Eid.
The companies say the supply was fine and now various agencies of the government are conducting raids and finding places with stocks of oil, he said.
"Who will remedy the fact that a mistrust in relationship has been created between the businesspeople and the government? Some of the traders who have stocked up on oil have committed the crime. I am not their leader," he said.
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