Despite the minister’s assurances to keep the edible oil market stable, the reality tells a different story. A severe shortage of bottled soybean oil persists across various markets in the capital. In some places, bottled oil is completely unavailable, while in others, limited supplies fall far short of demand. As a result, loose soybean oil has become the only option for many consumers, with prices rising to Tk 210 per kilogram.
Commerce Minister Khandaker Abdul Muktadir held a meeting with traders on April 12 to discuss the supply situation of edible oil. During the meeting, he emphasized maintaining a normal supply in the market and strictly avoiding any price hikes. However, just two days later, a visit to markets revealed a contrasting picture.
Visits to retail shops in Rampura, Malibagh, Shantinagar, and Segunbagicha showed that bottled soybean oil was unavailable in most shops. Many shopkeepers said they had not been receiving adequate supplies from dealers for several days, forcing them to sell only loose oil.
Retailers stated that the shortage of bottled oil is due to reduced supply. Many companies are not delivering oil regularly, causing instability in the market. Some shopkeepers reported that despite placing orders with dealers, they were unable to obtain bottled oil. In some cases, even when limited supplies were delivered, they were insufficient to meet demand.
Consumers alleged that an artificial crisis is being created in the market. Many believe that some unscrupulous traders are stockpiling oil to earn higher profits, despite sufficient supply being available. This has caused significant hardship for the general public, particularly low- and middle-income families.
At the April 12 meeting, the commerce minister said that the global situation, particularly in the Middle East, has created uncertainty in fuel and supply chains. He added that the government is closely monitoring the issue.
He said, “We have listened to the concerns of the businessmen. After discussions with all relevant parties, we will soon reach a practical decision to ensure the supply chain remains uninterrupted.”
He emphasised that the government is prioritising consumer interests while also urging responsible behavior from traders, noting that this is a sensitive time. Instability in the market for essential commodities like edible oil causes suffering for ordinary people.
Responding to journalists after the meeting, he clearly stated that the government does not want prices to increase under the current circumstances. “Our first priority is to ensure that prices of essential goods do not rise. We will take steps with that goal in mind,” he said.
However, even two days after the meeting, the supply of soybean oil had not returned to normal.
Md Afzal Hossain, a trader from Hajipara in Malibagh, said, “We placed orders with companies for bottled soybean oil, but it has not arrived. Company representatives have not even visited for the past two days. We’ve heard that they may release oil into the market only after prices increase, though we are not sure about the reality.”
He added that due to the shortage of bottled oil, the price of loose soybean oil has increased. “We were selling loose soybean oil at Tk 190 per kg a few days ago; now we have to sell it at Tk 210. We are not responsible for this price hike. Wholesale prices have gone up, so we are forced to buy at higher rates.”
At a shop in the Hajipara area, a few one-liter bottles of soybean oil were seen. Shopkeeper Afsar Ali said, “I am selling one-liter bottles at Tk 200, and I have only five bottles left. I have no more stock beyond that. Five-liter bottles ran out several days ago. Company representatives haven’t come for days, so I haven’t been able to restock. There’s nothing we can do.”
A similar shortage was observed in Malibagh market. Trader Alamgir Hossain said, “Supply of bottled soybean oil has been halted for several days. We don’t know why companies are not supplying oil. However, we’ve heard their costs have increased, so they want to raise prices. If prices go up, supply will likely return to normal.”
Amanur Rahman, a customer in Segunbagicha, said, “I visited several shops but couldn’t find bottled soybean oil anywhere. So I had to buy loose oil at Tk 210 per kg. Prices of everything are rising, and it is becoming increasingly difficult to manage household expenses.”
Another customer in Malibagh, Aktaruzzaman Titu, said, “I read in newspapers that oil prices would not increase and supply would remain normal. But in reality, bottled soybean oil is nowhere to be found. It has disappeared from the market. The minister held a meeting with traders, but I doubt whether he has actually visited the shops.”
He added, “Once prices are increased, you’ll see there is no shortage of oil. So the current situation cannot be normal. Traders are clearly creating an artificial crisis. The government should increase market monitoring and take strict action against those responsible. Otherwise, we will continue to face such situations again and again.”