A common proverb in rural Bengal is ‘Kazi’s cow is in the book, there is no cow’. The explanation is that it is not necessary to see how many cows are in the herd or what the real picture is; Documents must be kept in order. During the colonial rule, the government officials kept the records without seeing the image of the field. Then this proverb was born. The English left almost a quarter of a century ago. But the Bangladesh Ministry of Commerce is adopting the strategy of Kazi’s book. Over the past year, the prices of various products have risen and fallen. Effective as soon as the price of the product rises. But if the price of the product is reduced, it will take months to take effect. It is as if the important ministry is taking its responsibility in lowering and raising prices. The market does not need to see the actual picture.
The prices of the products are increased without seeing the real picture of the demand and supply of people’s daily products; In some cases it is reduced. But then the market is not monitored and controlled. Currently, there is anarchy in the country’s edible oil market. On October 3, the price of soybean oil in bottles was reduced by 14 Tk per litre. There was no impact on the market after this announcement. Traders will be selling oil at the old price until Saturday in markets across the country, including the capital Dhaka. Meanwhile, on October 6, the Ministry of Commerce lowered the price of palm oil by 8 taka per liter to 125 taka. At the same time, the sugar price has been increased by 5 rupees per kg. With the announcement, the price of sugar on the market rose, but the price of palm oil did not fall. Disadvantaged buyers say the Ministry of Commerce is freed by fixing the price. They don’t control the market. While mobile courts are sometimes established, there is no effective action to ensure that consumers can purchase products at prices set by the ministry. Forcing consumers to buy products at higher prices.
Retailers say they haven’t gotten cheap oil yet. And the supply companies say production of newly priced oil has begun. On Saturday, several shops in the parts of the capital Jatrabari, Shanirakhra, Dholaipar, Arambagh and Sayedabad found no new oil prices. The shopkeepers complained that they are buying from the company at the old price.
Last Monday, however, the Bangladeshi vegetable oil refineries and the Bonaspati Manufacturers Association lowered the price of 1 liter of soybean oil to 178 Tk; That was previously 192 Tk. On the other hand, the new price of a 5 liter bottle has been reduced by 65 Tk to 880 Tk; That was previously 945 Tk. In other words, 5 liters of bottled soybeans have decreased by 13 Tk per liter. The price of open soybean oil has been reduced by Tk 17 to Tk 158. But some retailers said they are buying and selling oil at its previous price. Shanir Akhara Monir shop owner Md. Monir Hossain said he sells 1 liter of bottled oil for Tk 190-192. On the other hand, 5 liters of oil are sold for Tk 945. With regard to the increased price, he said, we are selling oil at the previous price. Because the company has not yet given oil at the new price. If we give oil at a discounted price, we can also lower the price of oil.
A few shops in the Jatrabari area showed the same picture. Retailers said they had heard of the new price but it had no effect. Because companies are still selling oil at old prices. Following the government’s announcement of the price cut, oil must be bought and sold at the old wholesale market price. If we get oil at a low price, we sell it at a low price.
A similar picture was seen in the markets of Arambagh and Fakirapool. Wholesalers and retailers say the new price of soybean oil has not yet hit the market. Everyone sells oil at the old price. Buyers go to the stores to ask for the new price of soybeans, which has created an embarrassing situation.
Meghna Group Senior General Manager SM Mujibur Rahman told reporters that the new price of soybean oil has not yet entered the market. But production has started. New oil prices are expected across the country this week.
Meanwhile, on October 6, the Ministry of Commerce decided to cut the price of palm oil by 8 taka per liter to 125 taka. While most stores don’t sell palm oil, the stores that sell palm oil sell the oil at the old price. Sellers complained about getting oil at old prices as the reason.
It has been revealed that after making the decision to raise and lower the prices of products, he ended his position as the Ministry of Commerce with a press release to the media. Later on, the market does not see whether that decision is implemented or not.