Increase in soybean oil prices: Buyer-seller's discomfort, withdrawal claims

In the face of the debt of the traders, the government has announced the increase in soybean and palm oil prices, and the issue has reacts to the buyer and seller and political parties; In addition to calling the government to be strict in the control of the price, there has been a demand for the withdrawal of increased prices.


The new price of soybean oil and palm oil was announced after a meeting of edible oil traders with trade adviser Sheikh Bashiruddin on Tuesday (April 7th) at the Secretariat.

After the meeting, the Bangladesh Vegetable Oil Refiners and Forest Manufacturers Association announced the new price of soybean and palm oil.

The price of soybean oil has risen to Tk 5 per liter and palm oil prices increased to Tk 12. According to the new price, it will cost Tk 5 per liter of bottled soybean oil, which was 1 taka before. The new price of five liters of soybean oil bottle is Tk 122, which was Tk 12 before.

In addition to bottled oil, open soybean and palm oil priced at Tk 5 per liter, which was earlier Tk 5.

According to the notification of the traders, the increased price has been effective since April 1. They approved the government on Tuesday.

After the announcement of the increase in the price of edible oil, they expressed dissatisfaction with the buyers and sellers in the caravan market in Dhaka.

Noman Hassan Risingbd, who came to buy soybean oil for his home in the caravan market, told DC, “The traders of our country always see themselves. They do not see the purchase power of ordinary buyers.

“The government has become helpless to the traders. If the traders are not human, then the problem is never possible in Bangladesh,” Noman Hassan said.

Another buyer who came to buy soybean oil in the caravan market said. Saniul Haque Sunny told Risingbd.com, “We, who are private workers, do not increase our salary properly. But the prices of essential commodities are rising.”

“This is now that the price of soybean oil has increased by Rs. 5 per liter, it is nothing but oppression on people like us. Now one liter and 2 liters of soybean oil is not available in the market. Sellers say, the brother takes some other products. Consumer rights officers are trying to make more care,” said Sunny.

The government raised the price of soybean oil on December 7, 2021. Babul Shikder, the proprietor of the Babul General Store of Karwan Bazar, expressed his dissatisfaction with the news of the price rise again after almost four months.

When talking, Babul Shikdar told Risingbd.com, “Again, the price of soybean oil is a kind of oppression. Because we have to deal directly with the buyers. The dealers stop supply before raising the price. We are not getting oil as demand. We have no hand to raise oil prices.”

“Now when buyers say new prices, we hear bad things from them. The government is trying hard to control prices, but big companies have forced the oil prices to raise the price,” said Babul Shikdar.

Asked about the complaint of buyers to buy soybean oil, another grocery trader in the caravan market, Nasim Howlader, said, “Dealers from soybeans give us little profit.

He also said, “But the buyers do not complain that the seller does not always do so. When the dealers of other products with soybean oil, we also request the buyers to see if any other product is needed.”

Shafiul Athar, director of TK Group, the top importer of soybean oil, said, “From the beginning of this month, the product is being supplied with VAT on Tk 20-20 per liter.

Jamaat claimed to withdraw increased price
Bangladesh Jamaat -e -Islami has called for the withdrawal of the bottle of soybean oil at Tk 5 per liter and 5 percent per unit of industry gas.

Former Jamaat Secretary General Professor Mia Ghulam Parwar made the call to the government on Tuesday.

Jamaat's Secretary General said, “The government has taken the price to increase the price of soybean oil at the customer level and the decision to increase the price of gas per unit by 5 percent in the new industry.

He said, “Subatas is flowing in the economy of the country after the August 5 political change. There has also been hope among the industrial entrepreneurs of the country. During the past government, there was no industrial friendly environment and new industry did not develop. Many people are currently taking initiatives to set up new factories. In this case, the decision to increase gas prices by 5 percent in the new industry is nothing more than the government's immorality. This will discourage new entrepreneurs. Therefore, the government should withdraw this decision in the interest of development of new industry. ”

Professor Mia Ghulam Parwar said, “The government's decision to increase the price of soybean oil per liter will increase the misery of the poor people. Soybean oil is usually used by poor people for cooking.

“In the interest of development of new industries in the country, the price of gas is 5 percent and the price of soybean oil to increase the price of Tk 5 per liter is to immediately withdraw the irrational decisions to the government,” he said.

NCP claims to bring in purchasing power to protest the price rise
The National Citizens Party-ANCP has demanded that the price be brought into the public purchasing power by revising the decision to increase the price rise.

“We have learned through the media that the media has learned that the price of soybean oil has been raised by Rs 5 per liter by the demand of edible oil traders by the media,” said a notification sent by Saleh Uddin Sifat, NCP Joint Member Secretary (Office) Saleh Uddin Sifat.

“It is important to note that the prices of essential commodities and vegetables from the month of Ramadan have been stable since the last Ramadan. But the National Citizens Party-NCP thinks that the decision to suddenly increase the public suffering is that the decision to suddenly increase.”

The notice said, “In the current economic reality, the large population of the country is lower and middle class.
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“In this case, the National Citizens Party-NCP government called for the highest importance of consumer opinion and rights to determine the prices of all the essential commodities, including rice and edible oils, and, as well, the prices of rice and edible to the public were to bring about this sudden price rise.”

Precedent
Bangladesh Vegetable Oil Refiners and Forests Manufacturers Association issued a new price for Sabyan Oil on Sunday, two days ago, with the prices of government decisions from Tuesday. After meeting with the editor -in -chief businessmen in the commerce secretary's room, trade adviser Sheikh Bashiruddin briefed the journalists and informed the businessmen.

Earlier, a two -point meeting was held on April 7 and April 7 after the Eid holidays. However, no decision was made at that time. Then on April 7, the price of soybean oil per liter of edible oil producing companies would increase the price of Tk 5 per liter. The organization claims that the new bid will be effective since that announcement.

However, the commerce adviser said, “They cannot do it today. If the price has been finalized today, if they announce the announcement, that is illegal before the final decision.”

The businessmen were called for the meeting after the announcement of the price rise in the initiative of the businessmen. Representatives of Suri, Meghna, City Group were asked to attend the meeting by sending a letter from the Ministry of Commerce. The letter was sent to the Chairman of the Tariff Commission and the President of the Consumer Owner Owners Association. Accordingly, the third meeting was held on Tuesday; The meeting in which the business of the traders is increased to the price of oil.

Meanwhile, the mill owners proposed to raise the first new edible oil prices before Eid. The businessmen want to increase the price of bottled soybeans by 5 rupees a liter. And you want to raise the price of open soybean oil at Tk 5 per liter. The businessmen announced the implementation from April 1, the day after the expiry of the consumer tax and the expiry of the expiry of that time. However, the Ministry of Commerce was illegal to implement its prices before the final decision. Now the proposal has been approved somewhat less than that proposal.

From the beginning of April, the traders were trying to raise the price of oil due to the end of the tax benefits and the increase in prices in the international market. The organization informed the Ministry of Commerce and Bangladesh Trade and Tariff Commission about the decision to raise prices that day. From then on, there were several meetings between the government and the businessmen.

The tariff-tax discount on the edible oil to keep the price tolerable before Ramadan was proposed to increase prices as the term exempted on the edible oil. Then after the Eid holidays, talks started from the beginning of last week. At that time, the price of soybean oil per liter will not be more than 5 rupees or less, the government and the businessmen discuss.

Meanwhile, the Bangladesh Trade and Tariff Commission issued a letter to the National Board of Revenue recommending extending the tax deduction at the edible level till June 5, before the factory owners demand. However, the NBR did not agree.

The government raised the prices of the last bottled soybean oil on December 7, 2021; At that time the price per liter was fixed at Tk.