The New Nation - Internet Edition

Syful Islam

None of the edible oil companies put maximum retail price of the product on the label of container allowing the retailers to charge extra price from the customers.

During the last couple of days retailers charged huge sums from the customers shooting up the price of per litre edible oil to Tk 100.

On Sunday last, president of the Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association MA Rouf Chowdhury urged the customers to buy edible oil at no more than the price mentioned on the label of containers.

However, a survey in different markets found that no companies mention the price of edible oil on the containers.

When his attention was drawn to the issue, MA Rouf Chowdhury told newsmen Tuesday that the companies should have marketed edible oil mentioning the maximum retail price on the label of containers.

"May be the companies mention the price on the body of the containers but the retailers pick up those to charge extra sum from the customers," said the sector leader who does not have any idea of the issue.

One shop owner at the city's Karwanbazar said, "I am in this trade for the last 7 years. I see the MRP in every product except edible oil. The manufacturers do not mention MRP in the label to increase the price frequently," he said.

Another seller in the same market said, "Rouf Chowdhury has no idea of the issue except talking much. The manufacturers only know how to make more profit."

An official of the ministry of commerce said, " We met with the edible oil association leaders several times. They had committed not to raise the price. But in practice they did the same. They never care for keeping word".

President of Consumers Association of Bangladesh (CAB) Kazi Faruk Ahmed said an influential group has put on hold the labelling policy using their power. He said, "Mentioning MRP in the label of products is mandatory in most of the countries. But in Bangladesh the profit mongering businessmen have blocked formulation of the labelling policy to earn extra profit through increasing price repeatedly."

Ahmed, blaming former adviser Tapan Chowdhury and Geetiara Shafia Chowdhury, said the two advisers have delayed formulation of the labelling policy.

He said a meeting of the BSTI in July 2007 was scheduled to finalise the labelling policy but failed to do so under the pressure of business leaders. The meeting, that time, had decided to make the policy effective from 1 January 2008. But adviser Geetiara Shafia Chowdhury has delayed it for another six months at a recent meeting for unknown reason, he said.

In the retail markets on Wednesday edible oil was being sold at various prices. Retailers were charging the customers at will. Each 5-litre container of different companies was selling ranging from Tk 475 to Tk 515 in different outlets.

According to the market monitoring report of the Trading Corporation of Bangladesh (TCB) price of edible oil have increased by 57.12 per cent over the year and 6.47 per cent over the month.