Branded soyabean oil prices fall in Ctg
All the branded soyabean oil companies finally slashed the product's prices by Tk 5 per litre here on Tuesday following a promise made by them to the prime minister on February 23.
Retailers however are still charging higher prices showing the ground of a poor supply and a huge old stock bought at higher rates.
Leading edible oil importers of the country at a meeting with the prime minister on February 23 announced to reduce the prices supposed to be effective from the following day (February 24).
Representatives of City Group, Meghna Group, TK Group, Mostafa Group, MEB Group, SA Group, S Alam Group, Abul Khair Group, PHP Group, KDS Group and Nur Jahan Group were present at the meeting.
The new company rate of a 5-litre jerry can of Rupchanda brand soyabean oil was fixed at Tk 369 on Tuesday from its earlier price at Tk 394.
Price of a 5-litre jerry can of Mostafa brand soyabean oil came down to Tk 348 from Tk 373, while Dada brand dropped to Tk 343 from Tk 364 and Teer brand to Tk 344 from Tk 373.
Md Sadek, a wholesaler at Karnaphuli CDA Market, said the importers 'mysteriously' took nine days to reduce the prices only to make 'quick profit'.
“This delay was done intentionally by the importers,” he alleged.
Shoaeb Riad, director of MEB Group, said they had to delay due to 'poor supply'.
“We had to take some time to cut the price on poor supply,” he said.
Meanwhile, retailers at different kitchen markets were found charging higher rates for the product.
A five-litre can of Rupchanda brand soyabean oil was selling at Tk 380 at a store at Karnaphuli Market.
Jahangir, owner of the store, said they had some old stocks bought at previous rates, and so they had to charge higher to adjust loss.
He alleged some companies like Mostafa, Teer and Pusti re-fixed the prices but did not ensure enough supply.
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