Soybean Oil Prices Climb in Local Markets Despite Assurances of Adequate Supply

Retail prices of loose soybean oil and palm oil have increased in several local markets over the past few days, even as suppliers and government officials maintain that stocks remain sufficient.

Traders say the change has unfolded quickly. Over the past three to four days, the price of loose soybean oil and palm oil at the retail level has gone up by Tk 5 to Tk 7 per litre. At the same time, bottled soybean oil has been difficult to find in many shops, a situation that retailers say has persisted for about a month.

In Dhaka’s Kawran Bazar, shopkeeper Zakir Hossain described the strain the shortage is placing on small retailers. He said that even when he agrees to pay higher prices, he cannot obtain enough bottled soybean oil from suppliers.

According to him, demand in his shop is about 200 litres a week. Recently, however, he has been receiving only around 100 litres.

Wholesale markets have also recorded price increases. In Chattogram’s Khatunganj market, traders reported that edible oil prices rose sharply over the past week. Soybean oil has increased by Tk 140 to Tk 150 per mound, with the current price reaching Tk 7,170 for 37.32 kilograms. Palm oil is now selling for Tk 6,060 per mound.

Wholesale trader Anwar Hossain said refiners are supplying soybean oil in limited quantities, which is affecting market availability.

The impact is already visible at the retail level in Chattogram city. Over the last four days, the price of loose soybean oil has risen by roughly Tk 7 per kilogram to around Tk 200–202. Loose palm oil has also gone up, reaching about Tk 172 per kilogram after increasing by approximately Tk 6.

Similar complaints are emerging from other districts. In Khulna, traders say bottled soybean oil has become harder to obtain, and prices have climbed as supplies tightened. A five-litre bottle that previously sold for Tk 990 is now being sold for about Tk 1,060, while a one-litre bottle has increased from Tk 183 to Tk 195.

Shop owners attribute the change to a noticeable drop in deliveries from companies in recent weeks.

In Barishal city, grocery shop owner Mahatab Akon said the situation appears much the same, with limited stock and rising prices affecting everyday sales.

Oil producers, however, insist there is no shortage at the supply level. Md Hasan, general manager of public relations at Meghna Group of Industries, which markets the Fresh brand of oil, said the company’s supply remains steady and reserves are adequate.

City Group offered a similar explanation. Its director for corporate and regulatory affairs, Biswajit Saha, said the company is supplying the same quantities daily and regularly submitting supply reports to the commerce ministry and other government agencies.

Saha suggested the difficulties may lie in distribution rather than production. According to him, a shortage of vehicles transporting goods outside Dhaka, linked mainly to diesel-related issues, could be affecting supply in different regions.

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Commerce Minister Khandakar Abdul Muktadir acknowledged that shortages might be occurring at the retail level in certain areas. He said monitoring by the Directorate of National Consumers’ Rights Protection would be strengthened, and local administrations would be encouraged to take a more active role.

The minister expressed hope that the situation would begin to improve within the next two to three days.