As the first week of the holy month of Ramadan passes, the prices of various essential commodities are showing a downward trend. The most reassuring news for consumers is that although the supply of bottled soybean oil has not yet normalized, no major crisis has emerged.
Additionally, the price of loose soybean oil has decreased. Prices of other high-demand products during Ramadan are also on the decline.
Market insiders have stated that every year during Ramadan, the prices of various goods tend to rise. However, this year, except for soybean oil and lemons, the prices of other products have not increased significantly.
Moreover, after the first week of Ramadan, demand has decreased, leading to a drop in prices. However, the Directorate of National Consumer Rights Protection and other relevant government departments must continue strict monitoring of the market.
This is because a section of unscrupulous traders tends to hike prices whenever they get the chance.
A survey conducted yesterday, Saturday, at New Market, Shantinagar, Turag's Notun Bazar, and Kawran Bazar in the capital revealed these price trends. According to traders, the price of loose soybean oil has decreased by 10 to 15 BDT per liter over the past two days.
At the beginning of Ramadan, loose soybean oil was selling for 190 to 200 BDT per liter in the retail market, but yesterday it was available for 180 to 185 BDT per liter. The price of palm oil has also dropped. Within a week, the price of palm oil fell by 3 BDT per liter, selling at 147 to 154 BDT per liter in the market yesterday.
Meanwhile, bottled soybean oil was being sold at 175 to 178 BDT per liter.
Regarding this, Saddam Hossain, the owner of a departmental store in the Turag area, told Ittefaq that the demand for oil, which was high before and at the beginning of Ramadan, has now decreased.
Additionally, the supply of loose soybean oil in the market has increased, causing the price to fall. He also noted that when the price of loose soybean oil drops, the demand for bottled soybean oil naturally declines. However, he mentioned that the supply of bottled soybean oil has still not normalized.
Notably, there is no reason for a soybean oil shortage this Ramadan. According to a report from Bangladesh Bank, 598,252 metric tons of soybean oil were imported between October and January, which is 34% higher than the same period last year. So why is there still a supply shortage of bottled soybean oil?
The Director General of the Directorate of National Consumer Rights Protection, Mohammad Alim Akhtar Khan, told journalists last week, after inspecting the kitchen market at Kawran Bazar in the capital, that it would take some time to determine whether there is any supply or wholesale shortage of soybean oil.
"We will form an investigation committee. After the investigation, we can confirm if there is a crisis or not," he said.
Meanwhile, after the first week of Ramadan, the prices of sugar, broiler chicken, onions, and packaged flour have also declined. Market surveys show that within a week, the price of sugar has decreased by 2 BDT per kilogram, now selling at 118 to 125 BDT per kg, whereas last year, sugar was priced at 140 to 150 BDT per kg in the retail market.
The price of onions has also dropped, falling by 5 BDT per kg to 35 to 40 BDT. Packaged flour is now 2 BDT cheaper per kg, selling at 48 to 55 BDT. The price of broiler chicken has also decreased by 10 BDT per kg.
Yesterday, broiler chicken was being sold at 190 to 210 BDT per kg, down from 200 to 210 BDT per kg last week. However, the price of beef has remained unchanged, selling at 780 to 800 BDT per kg, compared to 750 to 780 BDT per kg a month ago.
Another source of relief for consumers this Ramadan is that the prices of vegetables remain relatively affordable. Although lemon prices were high at the beginning of Ramadan, they are now decreasing.
On Saturday, depending on size, a set of four lemons was being sold for 40 to 80 BDT, whereas at the beginning of Ramadan, they were priced at 60 to 100 BDT. Additionally, the prices of various vegetables have also decreased slightly over the past week.
Tomatoes, on Saturdya, in the market, were being sold for 20 to 25 BDT per kg, carrots for 40 BDT, beans for 50 to 60 BDT, eggplants for 50 to 70 BDT, bitter gourds for 80 BDT, papayas for 35 to 40 BDT, radishes for 40 BDT, drumsticks for 150 to 200 BDT, pointed gourds for 80 to 100 BDT, ridge gourds for 50 to 60 BDT, and green chilies for 60 BDT per kg. Among other vegetables, green bananas were selling at 20 to 30 BDT per set, bottle gourds at 50 to 60 BDT each, and cauliflower and cabbage at 30 to 40 BDT per piece.
