The New Nation - Internet Edition

Talha Bin Habib

The prices of some essential items are still high in the local markets despite significant fall of those in the international markets.

Prices of soybean, onion and lentil (red musur) have come down appreciably in the international markets during the last few weeks, yet there is no any positive impact of it in the local markets so far.

We do not understand why the prices of soybean oil are still high in the local markets even when their cost has plummeted in the international markets, customers said.

When the price of a commodity increases in the international markets then it simultaneously increases in the local markets. But in the case of price fall it does not decline in the local markets, they added.

They called upon the government to adjust the prices of all varieties of soybean oil with the international rate so that none could make windfall profits.

Retailers in the city markets said the prices of soybean, super soybean and palm oil are yet to come down in the wholesale markets.

We have no way but to sell them at high prices since we brought them at high rates, they said.

Wholesalers at Moulvi Bazar said they are not getting timely delivery of soybean oil from the mills. And the rates of soybean oil in the mills also remained high as in the last couple of months.

Admitting the fall in the soybean price in the international markets some businessmen alleged that most of the mills are still selling it at a high rate to As a result the prices of soybean are not coming down to a desired level, they informed.

When asked on the high prices of soybean a business leader said the consignment of crude soybean oil is yet to reach to the Chittgong port.

He hoped that the prices of all varieties of soybean would fall to a tolerable level before the start of the holy month of Ramzan.

To contain the prices of soybean and other essential items within the purchasing power of the commoners, the Trading Corporation of Bangladesh (TCB) is going to float tender today for importing 2,500 tonnes of soybean oil.

TCB is also taking necessary steps for importing onion, lentils and other essential items before the start of the holy month of Ramzan, said a high level official of the organisation.

Per kg of soybean oil was sold between Tk 122 and Tk 125, super at Tk 110 to Tk 112 and palm oil was sold at Tk 104 to Tk 106 in the city market yesterday.