Volatility on the edible-oil market still prevails even after a record-breaking price raise by the government as groceries almost ran dry of the cooking oils on Friday.
The result is obvious: consumers' desperate but failed attempt for buying some soybean and palm oils from market to market or grocery to grocery continued.
At some points, customers were seen picking an altercation with the grocers over unavailability of the oils even after the massive price hike of bottled and loose oils.
Few vendors, who had sold loose palm and soybean oils at Tk 190 to Tk 220 a litre till Thursday, however, totally stopped their sale as the government declared loose soybean-oil price at Tk 180 and palm oil Tk 172 a litre.
The FE correspondents found the fiascos while visiting various kitchen markets and groceries in residential areas of the densely-populated city which accounted for major share of widely-consumed cooking oils.
The government Thursday raised maximum retail price (MRP) of brand soybean oil by Tk 38 a litre to Tk 198 while the MRP for a litre of loose soybean oil raised by Tk 37 to Tk 180.
As per the latest decision on price adjustment of the most- consumed cooking oils that came into effect Friday, the rate of per-litre palm oil rose to Tk 172, up by Tk 39 from Tk 133.
Md. Kabir Akand, the proprietor of Tania General Store at East Rampura, said they had no soybean oils in the shop for the last several days as distributors stopped supplying the bottled and packed soybean oil.
He said people came and blamed them for the supply shortage, which is "not true at all".
"No one from the distributors came to us after the Eid. We called them several times for the supply but they didn't give us any satisfactory response," he said.
Few people were found altercating with a shopkeeper of Nasu General Store, which is 500 yards ahead of the Tania General Store, over the supply scarcity of soybean oil.
One of the customers, identifying himself as Mostafa Mridha, told the FE that he had visited groceries for the last couple of days for a 5-litre or 2-litre bottle of soybean oil, but to no avail.
"I am sure they have oil but they don't deliver us. It's their trick to raise the price creating artificial crisis on the market through stopping supply. The plot is proven successful," he said.
"If they (grocers) start selling oil soon after the price raise, people will understand their trick. That's why they have not started selling bottled oil," he added.
Suroz, shopkeeper at the shop, said they issued order for bottled oil few days ago but had yet to receive. "The distributor told us that they will start delivering the order soon. Then, what can we do? We are not the producer."
But grocers are expecting to get oil with new price tags from the distributors in next two or three days.
When contacted, a major distributor in Purba Rampura area, M/S Bismillah Traders, said the companies skipped supplying edible oils.
"We will start delivering orders soon after getting the supply," keeper of the wholesale outlet Khokon said.
Director of TK Group, one of the leading refiners in the country, Md. Shafiul Ather Taslim said they did not stop supply of the cooking oil.
He said they heard about the allegation. They also sent letter to all the distributors warning them not to get involved in such malpractices to avoid any harsh measure by the company management.
However, various quarters, including political parties, strongly protest the upward MRP (maximum retail price) revision of edible oils which were already turned too costly for the commoners to afford.
In a statement, a group of left-leaning parties termed the hike "irresponsible move of the government", fearing that it would further intensify woes of the common consumers.
They called upon the government to reverse the decision and keep prices of key essentials under people's purchasing capability "even by giving subsidy".
They also suggest introducing universal rationing alongside intensifying market-monitoring system.
