Staff Correspondent:

There is no edible oil crisis in the country. Compared to the same period last year, over 100,000 tons more oil has been imported this year.

Additionally, more than 800,000 tons of oil are in the pipeline, waiting to enter the country. Yet, bottled soybean oil has vanished from the market just before Ramadan. The situation is so dire that even after visiting five different markets, a one-liter bottle cannot be found.

Groceries in neighborhoods are also running empty. Consumers fear that this may lead to a severe crisis during Ramadan. Industry insiders claim that six to seven companies are holding consumers hostage by artificially reducing supply in order to force a government-approved price hike.

Despite having evidence, the authorities continue to bow to unseen influences, allowing the identified syndicate to remain untouchable. As a result, consumers are left helpless in the market.

Meanwhile, the Bangladesh Trade and Tariff Commission has reviewed the overall situation of essential commodities ahead of Ramadan. According to the commission’s report, the annual demand for edible oil in the country is 2.3 to 2.4 million tons, with a demand of 300,000 tons during Ramadan.

From January 1 of last year to January 5 of this year, the country imported 1,857,548 tons of edible oil. Additionally, 250,000 tons were produced domestically. Another 812,565 tons are still in the import pipeline. Furthermore, international market prices are declining.

According to Chattogram Customs on Thursday, from July 1, 2023, to February 8, 2024, a total of 2,170,003 tons of unrefined edible oil were cleared through Chattogram Port.

This included 521,952 tons of soybean oil and 1,648,051 tons of palm oil. In the current fiscal year (2024-25), 2,270,289 tons of edible oil have been cleared during the same period, including 1,436,386 tons of palm oil and 833,903 tons of soybean oil.

This means that over 100,000 tons more oil have been imported compared to the previous year. Yet, there is no edible oil available in the market.

After visiting seven stores in the Jinjira kitchen market in the capital, not a single bottle of soybean oil was found. At 1:30 PM, six grocery stores in Naya Bazar were checked, but none had bottled soybean oil.

At 2:30 PM, five stores in Kawran Bazar were visited, and only one had a one-liter bottle of soybean oil, but the price was not labeled on the bottle. The seller had erased the original price and was charging 195 BDT per liter, whereas the government-set price is 175 BDT.

However, loose soybean oil was available in these markets, selling for 200–220 BDT per liter, even though the government-fixed price for loose oil is 157 BDT per liter.

Abu Bakr Siddique, a wholesale trader in Kawran Bazar, said, “A week ago, I received only a quarter of the soybean oil I requested from dealers. Now, I am not even getting that much. The supply has decreased.”

Md. Nure Alam, a consumer in Naya Bazar, shared his frustration:

“I ran out of oil at home, so I thought I would buy some from my neighborhood store on my way back from the office. But on Wednesday night, I couldn’t find bottled soybean oil in any store in Laxmibazar. So, I returned home empty-handed”.

He continued, “Since Thursday morning, I have searched three different markets—Shyambazar, Ray Saheb Bazar, and Tanti Bazar—but still couldn’t find bottled oil. I finally came to Naya Bazar, only to find that it’s unavailable here as well. It has completely disappeared! I visited five markets and still couldn’t find it”.

Md. Sohel, a grocery store owner in Jinjira kitchen market, said, “For the past four months, six to seven major companies have not been supplying oil to their dealers. Before Ramadan, people from all economic classes shop for essentials”.

This is when these companies stop supplying oil to the market. As a result, there is no bottled oil available. The companies are doing this intentionally to increase the price. Once the government raises the price, there will be no shortage of oil in the market. Even dealers have told us the same thing,” he added.

Atiya Sultana, Deputy Director (Operations) of the Directorate of National Consumer Rights Protection (DNCRP), said, “A stakeholder meeting has been organized at the DNCRP headquarters to review the latest situation of edible oil, ensure price stability, and maintain an uninterrupted supply.”

SM Nazer Hossain, Vice President of the Consumers Association of Bangladesh (CAB), remarked, “If the government had taken the necessary steps, this problem could have been solved within seven days. They know exactly where the problem lies, yet they have not taken the necessary measures”.