The interim government recently raised the price of soybean oil by Tk8 per litre, setting it at Tk175.
However, this adjustment has not mitigated the supply crunch, as edible oil companies have reportedly curtailed distribution, leaving retailers struggling to procure adequate stocks.
While five-litre bottles are sporadically available, one- and two-litre variants remain elusive.
Retailers and consumers allege that companies are deliberately restricting supply to justify another price hike as Ramadan approaches.
Some retailers claim that even when they receive supplies, company representatives compel them to purchase additional products such as lentils and rice.
At Masud Store in Hatirpool Market, Masud lamented, "Prior to the price hike, companies had already reduced supplies. Now, despite the Tk8 increase to Tk175 per litre, we face renewed shortages. Occasionally, we receive five-litre cartons, but not the smaller bottles, or vice versa. Wholesalers sell at maximum retail price (MRP), leaving us with no profit margins."
Similar grievances resonate in Karwan Bazar, where retailers report erratic supplies.
Jahangir Alam of Faridganj Store noted, "City Group's Teer oil is unavailable. Dealers of Rupchanda and Pushti oils insist we purchase rice and lentils alongside the oil. Refusal results in outright denial of supplies."
Shah Alam Khan of Mayer Doa Store added, "When oil is available, wholesalers sell it strictly at MRP. For instance, five-litre bottles marked at Tk852 are sold at that exact price, unlike earlier when we had a slight margin. Higher pricing risks fines from magistrates. The Consumer Rights Directorate must intervene to ensure fair supply practices."
Tamiz Uddin, a private sector employee, expressed frustration, "This mirrors the previous government's pattern: sudden shortages followed by price hikes. The government must address this manipulation promptly to avert a worsening crisis."
Kuddus Khan from MR Traders observed, "The situation is unchanged. Supplies dwindle shortly after price hikes, with rates climbing again as Ramadan nears."
Despite official assurances, the crisis persists. On 9 December, following pressure from mill owners citing high international prices, the government increased the price to Tk175 per litre.
At the time, Commerce Adviser Bashir Uddin assured, "We have set the new price after discussions with suppliers, expecting no further shortages." Yet, nearly two months later, the market remains unstable.
Biplob Kumar from Messrs Minu Traders, a dealer of Meghna Group's Fresh brand, acknowledged, "Transactions have halved. We cannot meet retailers' demands due to insufficient supplies."
Mustafa Haider, President of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association and Managing Director of TK Group, refuted claims of supply issues, stating, "Our production and supply remain consistent. I am unaware of other companies' practices or any conditions imposed by dealers. Our operations continue as usual."
Meanwhile, staple food prices remain high.