Prices of various essential commodities remain unstable in retail markets ahead of Eid-ul-Azha scheduled to be celebrated on June 29.
Retailers continue to sell soybean oil at previous rates even after a week has passed since prices were reduced by the government by Tk 10 per litre.
Besides, while the price of wheat has decreased in the international market it remains the same in the domestic market. The prices increased last year in the domestic market with the price hike in the international market.
According to the international market analyst organisation Business Insider, wheat prices have fallen from over $400 to below $250 per tonne in the past year.
According to the Trading Corporation of Bangladesh (TCB) daily market price data on Thursday, flour is selling for 19-25 per cent higher price than last year. Loose flour was sold at Tk 52-55 and packaged flour at Tk 60-65 per kg on Thursday.
In June last year, loose flour and packaged flour were sold at Tk 40-45 and Tk 50-55 per kg respectively.
Meanwhile, traders have yet to implement the new reduced prices of edible oil.
The government reduced the price of edible oil considering the price reduction in the international market on Jun 12. The price of bottled soybean oil has been reduced by Tk 10 per litre to Tk 189 and loose soybean oil to Tk 167 per litre. The price of palm oil has been reduced by Tk 2 per litre to Tk 133.
According to TCB, the price of bottled soybean oil is Tk 190-195 per litre and Tk 880-900 per five-litre bottle.
However, loose soybean oil was sold at Tk 167-175 per litre on Thursday, while it was Tk 167-180 per litre one week ago.
Palm oil was sold at Tk 125-135 per litre on Thursday, while it was at Tk 125-130 per litre one week ago.
Garlic and ginger prices also increased this week, while the prices of onion remained stable.
Yesterday, imported onion was sold at Tk 45-50 per kg, local onion at Tk 70-75 per kg, garlic at Tk 160-170 per kg and ginger at Tk 300-320 per kg. Garlic and ginger were sold respectively at Tk 150-160 and Tk 280-300 per kg a week ago.
Mustafuzur Rahman, a retailer of Shegunbagicha kitchen market, said, “We cannot sell at a lower price unless the wholesale market, or the manufacturers, reduces the price. We also want the price of products to come down. But prices of all commodities including sugar, oil and flour are fixed by the suppliers at whatever price they want, which is also troublesome for us.”
The sugar market is yet to stabilise. It was sold at Tk 135-145 per kg on Thursday, while it was at Tk 135-140 per kg a week ago.
The refiners urged on Monday the government to hike retail prices of packaged sugar by 20 per cent to Tk 150 a kg and loose sugar to Tk 140 per kg citing a spike in import costs thanks to a rise in international rates. This proposal is yet to be approved.
