Major soybean refiners are divesting customers by selling edible oil more exorbitantly than the government-fixed rates, according to consumers and groceries.
"A majority of city groceries have now half-litre soybean bottle with MRP Tk 98-100," said Gulzar Hossain who owns a grocery on Iqbal Road of Mohammadpur.
One litre price is Tk 196-200, he added.
In December, the government in consensus with refiners fixed MRP (maximum retail price) of branded soybean at Tk 187 a litre, loose soybean at Tk 167, loose super-palm oil at Tk 117, according to commerce ministry.
Mr Hossain said two companies have delivered one-litre jars with new MRP but most of the suppliers are not eager to give new jars before Ramadan.
Haider Ali, a East Rayerbazar grocer, said demand for half-litre bottles is higher amid a nearly 100-per cent hike in oil prices in the last one-and-a-half year.
Poor and lower-middle income families look for half-litre bottle as loose oil is also not so available in the market, he observed.
He said the companies are supplying 500-millilitre (ml) jars at Tk 95-96 each to grocers and they are selling those at Tk 98-100 as per the MRP tagged.
Rubel Hasan, a sales representative of a refiner, said all government directives are for one-litre to five-litre bottle jars.
The refiners do not think it should also be maintained for half-litre or 250ml bottles, according to the man.
He said few companies have even 250ml soybean jars, which retail at Tk 58, meaning one litre at Tk 232.
The FE could not get immediate comment from five top refiners after repeated efforts over phone on Saturday.
Asked, Consumers Association of Bangladesh (CAB) vice-president SM Nazer Hossain said refiners are realising higher from consumers against the government-fixed rate when global prices showed a downtrend.
He said soybean oil with 500ml and 250ml jars are almost unregulated, thus encouraging traders to fix prices as per their wish.
Demand for such bottles has increased amid rising prices and declining real income of people, he added.
Mr Nazer said minimum retail price of super-palm is Tk 137 in the market when the government fixed Tk 117.
He said the state monitoring agencies should conduct mobile courts to prevent such wrongdoings.
Global commodity portal Index Mundi shows soybean oil prices have remained static at $1,380-1,410 per tonne and palm oil at $960-980 a tonne for the past three months.
According to commerce ministry, Bangladesh has a total demand for 2.1-2.2 million tonnes of cooking oil. Of which, it imports 90 per cent.
Of the imported oil, soybean comprises above 40 per cent and the rest is palm oil.
