Administration sets retail price of loose soybean oil at Tk160 per litre in Ctg

The administration set the price of loose edible oil at different levels in Chattogram from importers to retail sellers in a decision at a special task force meeting today (4 March).

As per the decision, importers will sell loose soybean oil at Tk153 per litre, traders at Tk155, and retailers at a maximum of Tk160 per litre. This pricing will be effective from today until 10 April.

The meeting held at the Chattogram Circuit house, aimed to stabilise the prices of essential commodities during Ramadan.

The special task force committee warned that strict action will be taken against any seller who charges more than the fixed price. Business representatives present at the meeting agreed to the set pricing.

Chattogram Deputy Commissioner (DC) Farida Khanam presided over the meeting, while Chattogram City Mayor Shahadat Hossain attended as the chief guest.

Farida Khanam said, "There is currently a shortage of edible oil in the market. To resolve this, discussions have been held with all stakeholders. According to the decision, retailers cannot sell loose soybean oil for more than Tk 160 per litre, although they may sell at a lower price if they wish.

However, no one is allowed to charge above the fixed price. Any trader violating this decision, whether in wholesale or retail, will face legal action through the special task force committee, the DC added.

Speaking at the meeting, Mayor Shahadat Hossain mentioned some other Muslim countries where governments provide subsidies on essential commodities during Ramadan to ensure affordability.

He said that a handful of unscrupulous traders cause sudden price hikes in Bangladesh and due to these dishonest practices, essential commodity prices surge ahead of Ramadan.

"Therefore, a fixed price has been set for edible oil, and any violation will result in strict legal action. Besides the district administration, Chattogram City Corporation will also monitor the market," he added.

Earlier on Monday, Mayor Shahadat Hossain and DC Farida Khanam visited Khatunganj, the country's largest wholesale market, following reports of a supply crisis of bottled soybean oil.

During the visit, they found evidence of an artificial shortage of edible oil, prompting a meeting with producers, importers, and wholesalers to address the issue.